In a global cannabis market brimming with potential, where should businesses focus their attention? Experts from the Benzinga Cannabis Capital Conference examined the profitability and growth prospects across Europe, Australia, Southeast Asia, and Canada, with Germany standing out as the market leader.
Europe: A Booming Market Led By Germany
The panel, moderated by Jamie Pearson, President of New Holland Group (OTC:BHNGF), featured William Muecke, co-Founder of Artemis Growth Partners, Michael DeGiglio, CEO of Village Farms International Inc (NASDAQ:VFF), Beena Goldenberg, CEO of Organigram Holdings Inc (NASDAQ:OGI), and Finn Age Hänsel, Founder of Sanity Group.
The panelists agreed that Germany is the leading force in the global cannabis market. “Germany is the poster child for what we think the rest of Europe could look like,” Muecke said. Since April 1, Germany enacted CanG, decriminalizing cannabis sales, which led to a surge in demand. He added that the patient base grew from 250,000 to 600,000 in under a year, with more growth on the horizon.
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