Europe’s CBD Market Projected To Grow By 400%
CBD is seeing monumental demand in Europe. The growth of the CBD market in Europe is growing because of the adoption of CBD infused products in industries such as pharmaceuticals, personal care, cosmetics, nutraceuticals, along with medical applications. In particular, legalisation of medical cannabis, and decriminalization in some countries, has led to a significant decrease in black-market activity, as people are shifting to legally purchasing cannabis for medical as well as recreational use. The legal cannabis industry continues to expand around the world with major contribution to the market coming from continuous legislative victories in North America and Europe. In Europe alone, the market is on course to grow 400% over the next four years, according to the Brightfield Group report. Another report from New Frontier data supports that projected growth in a report that said 46% of Europeans view CBD favorably, and up to 77% of surveyed respondents also believe CBD should be accessible in some way. Active companies in the Cannabis market this week include World High Life Plc (OTCQB: WRHLF), Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNHF), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB).
Another report focused on the European markets, by Cannabis Business Plan further supported the growth saying that: “Although the legal cannabis market in Europe is targeted strictly towards medical consumers, the consumption of hemp-derived CBD infused products for recreational purposes is legally permitted across much of the continent. According to the Orian Research Group, the current market size for CBD in Europe is about €450 million representing 31% of the global CBD oil market share, second only to North America with a market share of 40%. It is suggested that CBD products market could account over 0.15% of the health and wellness market value by 2028. According to the latest research by the Global Wellness Institute, the worldwide wellness market grew 12.9% from a $3.72 trillion in 2017 to a $4.2 trillion (€3.5trn) in 2018. The European CBD market is projected to be worth at least €1.5 billion by 2023.”
World High Life Plc (OTCQB: WRHLF) BREAKING NEWS: WORLD HIGH LIFE & LOVE HEMP BRAND AMBASSADOR GEORGES ST-PIERRE TO BE SHOWCASED ON BT SPORT SPECIAL – World High Life is pleased to announce that Georges St-Pierre, brand ambassador of World High Life and its wholly owned subsidiary, London-based CBD brand, Love Hemp Limited (“Love Hemp”) will be showcased on BT Sport, one of Europe’s largest sport networks and rights holder for UFC (Ultimate Fighting Championships) in the U.K.
Georges “Rush” St-Pierre, also known as “GSP,” is a Canadian professional mixed martial artist and 3-time UFC world champion who holds black belts in both Kyokushin karate and Brazilian Jiu Jitsu.
“Georges St-Pierre is an integral part of our vision. He has contributed greatly and valuably to our brand culture and towards the development of key Love Hemp ranges,” said Mr. Tony Calamita, CEO at Love Hemp. “This showcase special on BT Sport will serve to provide a retrospective on Georges’ incredible history in the UFC and provide significant exposure for the Love Hemp brand while doing so.”
Georges St-Pierre BT Sport Programme Highlights
- Georges St-Pierre BT Sport Special will consist of a 5-hour programme, to air on Thursday, August 27th from 9pm to 1am
- The special will consist of a 1-hour interview with Georges wearing Love Hemp branded apparel
- The special will include 4 hours of insights from Georges as his favourite fights are showcased
As Brand Ambassador, Mr. St-Pierre facilitates and provides promotional services, including branding, social media, product placement, endorsement and overall support of the Company and the “Love Hemp” brand.
In 2006 he became the UFC Welterweight Champion. He lost the title in 2007 but subsequently regained it in front of his hometown fans of Montreal in 2008 and has not lost a single title defense since then.
Georges retired from the sport on 13 December 2013, holding the UFC record for most wins in title bouts and then returned to the octagon after a four-year layoff, on 4 November 2017 at UFC 217 in New York City (Madison Square Garden), where he defeated Michael Bisping by submission in the third round to win the UFC Middleweight Championship title, becoming the fourth fighter in the history of the organization to be a multi-division champion. On 7 December 2017, after being diagnosed with ulcerative colitis, Georges vacated his UFC middleweight title and officially announced his retirement from professional MMA competition on 21 February 2019.
“I believe that using Love Hemp’s CBD products in my training helped my recovery and overall wellbeing greatly, and I embrace this opportunity to help create innovative products and grow the Love Hemp brand so that others can benefit as well,” said Mr. Georges St-Pierre. “I am committed to building great teams and getting world class results in everything I do, and I am thrilled to contribute to the World High Life and Love Hemp team to help achieve those standards.” Read this and more WRHLF news at: https://www.worldhighlife.uk/investor-relations/announcements/
Other recent developments and major influences in the cannabis industry include:
Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNHF) recently announced it has agreed to a settlement of its ongoing lawsuit against the Nevada Department of Taxation and other parties which subsequently joined the litigation (the “Settlement”). As part of the Settlement, Planet 13 is receiving one provisional adult-use dispensary license in unincorporated Clark County, Nevada (the “License”). The License will be used to re-open Planet 13’s former dispensary located at 4850 Sunset Road in Las Vegas, Nevada that closed on October 30, 2018 (the “Medizin Dispensary”).
“We’ve always known that as one of the top operators in Nevada, responsible for 9% of the state’s sales, we deserved to win a license from the Nevada Department of Taxation. Although we are not happy with how long the process took for us to obtain the license to re-open our original location, we are thrilled to be able to service our loyal customers who supported Planet 13 from day one,” said Larry Scheffler, Co-CEO of Planet 13. “The Medizin Dispensary at 4850 Sunset Road in Las Vegas is a fully built-out 4,750 sq. ft. store that offers the same dedication to customer service, high-quality products, and innovation that Planet 13 is known for, all in a compact footprint designed to compliment its local neighborhood.”
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced its 2020 second quarter business results. “In the second quarter of 2020, we continued our progress despite unprecedented shifts in our industry and the global economy. We officially entered the Israeli medical cannabis market, with Cronos Israel commencing the sale of PEACE NATURALS™ branded dried flower products to medical patients. During these extraordinary times, it is very encouraging to see that we are making progress against our strategy across our global footprint,” said Mike Gorenstein, CEO of Cronos Group.
“While following safety guidelines, our employees are finding new and creative ways to keep our production, manufacturing, and R&D facilities operating, and we are bringing new products and brands to markets across the globe. Cronos Group was founded on the mission to improve people’s lives by unlocking the full potential of cannabis and our Company is very proud to be at the forefront of providing safe access and high-quality products to patients and consumers around the world.”
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) recently announced that it has opened a new dispensary in Clearwater, Florida, marking its 29th retail location in the state. Curaleaf Clearwater, located at 2082 Gulf to Bay Boulevard, will carry a wide range of Curaleaf and Select brand products. Select, known as America’s #1 cannabis oil brand now available in 12 states, launched earlier this month in Florida with Select Elite Live, the brand’s new enhanced live resin product, which combines high-quality THC oil and live resin high-terpene extract. The company also recently launched the first-to-market Curaleaf sublingual tablets. The Clearwater location is the first of three new medical dispensaries the company plans to open in the market this quarter.
In response to COVID-19, Curaleaf continues to implement new policies and procedures, including curbside services and contactless and cashless payment through approved credit and debit card services, to keep patients, customers and employees safe during this time.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) recently announced that Miguel Martin, President of Aurora USA and head of Reliva, LLC (“Reliva”), has been appointed Chief Commercial Officer of Aurora, effective immediately. Mr. Martin will replace Darren Karasiuk who has held this position at Aurora since February 2019.
“This appointment allows us to take full advantage of Miguel’s depth of international CPG experience to drive Aurora’s revenues and brand strength in our global core markets,” said Michael Singer, Executive Chairman and Interim CEO of Aurora. “Miguel has a proven track record of running profitable global sales and marketing teams in complex, highly regulated industries that are adjacent to cannabis. His new role at Aurora is indicative of our commitment to combining sales and marketing excellence with driving profitability in our core businesses.”