Europe's Booming CBD Market Grows Will Grow More Than 400%
FN Media Group Presents Potstocknews.com Market Commentary
NEW YORK, Aug. 14, 2019 /PRNewswire/ -- In February, the World Health Organization recommended that the United Nations remove pot and its key components from a list of highly-controlled substances under international drug treaties. Since then, there has been rapid development towards regulation and capitalization of pot-related industries, especially in Europe. Amidst reports that the CBD industry on the continent is exploding—with the Brightfield group projecting that in Europe the market will grow more 400% through 2023—there is remarkable room for growth in the CBD space. CBD cultivators and product manufacturers will have to move quickly to navigate existing regulation and produce nothing but the highest quality goods. By doing this, companies like StillCanna Inc. (CSE:STIL) (OTC:SCNNF), GW Pharmaceuticals (NASDAQ:GWPH), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTCQX:TGODF), OrganiGram Holdings (TSX-V:OGI) (NASDAQ:OGI), and Tilray Inc. (NASDAQ:TLRY) will establish in Europe a lucrative and trustworthy market for CBD products.
"CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited, Brightfield Managing Director, Bethany Gomez, recently highlighted. "This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we're seeing in the U.S."
Industry-Leading Cultivation and Extraction
StillCanna Inc. (CSE:STIL) (OTCPK:SCNNF) has taken this opportunity to heart by combining its proprietary strengths with a number of key acquisitions and initiatives. In May, the company acquired legacy Polish hemp company Olimax, a vertically integrated licensed cultivator, extractor, and formulator of CBD. This purchase makes StillCanna by far the largest hemp cultivators in Poland and, when combined with its Romanian facilities, one of the largest in all of Europe.
Because hemp has been legal to grow in Poland for years, the company quickly got to work seeding more than 3,700 acres (1,500 hectares) of Polish farmland with its EU-certified, high-CBD-content hemp.
Of note, StillCanna is one of only three companies on the continent that has its own proprietary and registered hemp seed. Furthermore, its varietal strain has a gestation period of just 45 days, meaning that the company can plant two crops a year on a number of its properties to increase cultivation capacity starting in 2020.