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International Cannabis Weekly: 292

March 31, 2023

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AVAILABLE NOW | THE EUROPEAN CANNABIS REPORT: 8TH EDITION

The European medical cannabis industry has seen steady growth over the past year and it is projected to reach over €550 million in sales by the end of this year. The UK is set to become the second-largest European market over this time, as has been long-predicted by analysts.

The European CBD market remains complex, and in some aspects opaque, but increasingly the picture is becoming clearer. The normalisation of various channels of the industry is slowly moving forward, though the wait for novel food authorisations continues. The combined market size of all CBD categories in 2023 is over €2 billion.

Four European countries are in the process of developing regulatory models for an adult-use cannabis market; Germany, Czech Republic, Switzerland and the Netherlands. These early adopters are likely to set a precedent for other countries to follow, and may well form the blueprints for a European adult-use cannabis market.

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LEGALISATION IN GERMANY ‘NOT FEASIBLE IN THE SHORT TERM’

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UK FSA HAS ADVANCED NEARLY 3,000 CBD PRODUCTS TO THE SECOND STAGE FOR APPROVAL

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Europe

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Upcoming Event

CANNABIS EUROPA TICKET PRICES RISE AT MIDNIGHT TONIGHT

There are less than five weeks to go until 1500+ influential leaders, investors, policy makers, pioneers and leading industry executives descend on The Barbican Centre for Cannabis Europa London. Will you be joining us on 2-3 May?

Whether you are just starting out in the industry or are an industry veteran, join us in London to navigate all corners of the rapidly evolving European cannabis market. Meet the right people to help expand your business, share insights, and make crucial business connections.

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Stocks

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United States
  • Curaleaf Holdings, Inc. announces that it has entered into a definitive agreement to acquire Deseret Wellness.
  • Recent studies find CBD may help curb opioid cravings and enhance the effects of the opioid antidote, naloxone.
  • Texas agriculture officials have approved hempseed-derived feed and authorised the state feed agency to set regulations.
  • South Carolina medical cannabis legalisation bill’s fate in question, but supporters are making a last-ditch push.
  • PVJOBS awarded US$6 million CalVIP grant to expand job training and placement services in cannabis industry.
  • AYR Wellness Inc. announces that it has closed the definitive agreement to sell Blue Camo, LLC.
  • Maryland Senate will vote on cannabis sales bill this week as lawmakers consider hemp industry input.
  • RS BioTherapeutics raises more funds to advance cannabis-based therapy for lung diseases.
  • BLAZE Cannabis Retail Software announces sustained pattern of growth in 2022 and into 2023.
  • Herbies Seeds is now launching an express delivery service for its US customers.
  • Marvina Thomas announces acquisition, to become first black woman to own and operate an Arizona dispensary.
  • The Bad River Ojibwe Tribe in northern Wisconsin is opening a retail cannabis business on the reservation.

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Canada
  • New images taken by the Canadian Synchrotron Light Center in Saskatoon will likely help cannabis researchers.
  • Health Canada is seeking feedback on potential amendments to the Cannabis Regulations around licensing and more.
  • Canada’s Shoppers Drug Mart is handing over the reins of its cannabis vertical to this biopharma company.
  • Statistics Canada released January retail sales for the country, with cannabis sales falling from the inflated December levels.
  • Canada House Cannabis Group reports Q2 fiscal year 2023 financial results with quarterly net profit.
  • The Nasdaq Stock Market LLC advises that Aurora Cannabis Inc. was not in compliance with a Nasdaq Listing Rule.

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Reports

ACCESS PREMIUM DATA WITH THE EUROPEAN CANNABIS REPORT: 8TH EDITION

As well as the free-to-download version of The European Cannabis Report: 8th Edition, there are Premium Packages available that provide additional specialist information and data analytics to help connect with the industry, make smarter decisions, maximise marketing impact and improve business performance.

In addition to market sizing data for CBD, medical and adult-use markets in Europe, there is also an exclusive European Adult-Use Cannabis Report also available for purchase, which deep dives into developments in Germany, Czech Republic, Switzerland and the Netherlands.

ACCESS THE DATA »

 

 

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LATAM & The Caribbean
  • Andréia de Jesus (PT) seeks to introduce a policy in Brazil for the free supply of cannabis-based medicines.
  • The 3rd Brazilian Congress on Medicinal Cannabis Law took place in Brazil on 29 March.
  • Is Argentina the next green frontier? Here’s why it’s bound to become a global player in cannabis.
  • Colombian lawmakers advance cannabis legalisation bill, aiming for enactment this year.
  • Hemp industry diversifies in Ecuador: creams, oils and coffee are made from cannabis.

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APAC

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Africa & The Middle East
  • The Tikun Olam Cannbit company lost tens of millions of shekels within a year and its future is unclear.
  • Cannabis industry plans for South Africa have stalled – how to get them moving again.
  • The South African cannabis industry is estimated to be worth R406 million by 2026, up from R87 million in 2021.
  • Christina Lake Cannabis Corp. announces that the company has signed a supply agreement with MG BioTech Ventures.
  • IM Cannabis reports fourth quarter and fiscal year 2022 financial results; revenues in 2022 increased 60% year-over-year.

 

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