Business – Page 13 – International Cannabis Business Conference

European Parliament Accepts Low-THC Cannabis Petition

Written by Hazel Norman on February 16, 2025. Posted in Business, Policy.

Cannabis products that are low in THC are very popular in many parts of the world right now, particularly in Europe. ‘Cannabis light,’ as it is sometimes referred to, is widespread across the European continent.

Italy is a market where cannabis light products are very popular, however, the products have been the target of recent crackdown attempts by Italian lawmakers and regulators. Attempts to ban Italy’s cannabis light industry resulted in a petition being previously submitted to the European Parliament, and the petition was recently accepted.

“The petition presented by several national acronyms last September was accepted by the Petitions Committee (PETI) of the European Parliament. Its chairman, Polish conservative Bogdan Rzońca, asked the European Commission to “conduct a preliminary investigation into the issue.” reported EUNews in its recent coverage.

“In the response addressed to the president of Canapa Sativa Italia, Mattia Cusani (the first signatory of the petition that gathered the yes of Confagricoltura, Cia, Copagri, Cna Agroalimentare, Unci, Liberi Agricoltori, Altragricoltura, Associazione Florovivaisti Italiani, Federcanapa, Sardinia Cannabis, Assocanapa, Resilienza Italia Onlus, Canapa delle Marche, the European Industrial Hemp Association -EIHA, and the French UPCBD) the PETI committee pointed out that the Court of Justice of the European Union, in a judgement of October 4, 2024, ruled that Member States may not impose restrictions on the cultivation of industrial hemp, including indoor cultivation and cultivation exclusively for the production of inflorescences, unless such restrictions are supported by factual scientific evidence relating to the protection of public health.” the outlet also reported.

The battle over cannabis light in Italy and other parts of Europe comes at a time when many European countries are working to modernize their cannabis policies. Most European nations now have some type of medical cannabis program operating to some degree.

Currently, cannabis that is not low in THC is expressly legal for adult use in Malta, Luxembourg, and Germany. Additionally, regional adult-use cannabis commerce pilot trials are operating in the Netherlands and Switzerland.

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Hemp Flowers Are Now Subject To Austria’s Tobacco Tax

Written by Hazel Norman on February 11, 2025. Posted in Business, Policy.

The level of popularity for hemp flowers among cannabis consumers has exploded in recent years, particularly in Europe. ‘Cannabis light,’ as it is sometimes referred to, contains low enough levels of THC that many markets in Europe permit sales of it.

Whereas adult-use cannabis commerce for products derived from non-hemp sources remains illegal throughout most of Europe, commerce involving hemp products is often legal to some degree. Hemp flowers are a bit of a grey area from a regulatory standpoint in much of Europe. In Austria, a recent court decision declared that hemp flowers are subject to the nation’s tobacco tax.

“The Austrian Administrative Court (VwGH) has recently ruled that dried hemp flowers with a THC content of up to 0.3% are subject to tobacco tax.” reported Cannabis Industrie in its original coverage. “In addition to the tax liability, these products are also subject to the Tobacco Monopoly Act, which means that they may only be sold through tobacco shops.”

“The decision of the VwGH could have far-reaching consequences for the cannabis industry in Austria. Producers and distributors must now adapt to the new regulations and comply with the sales restrictions. This could lead to a shift in the market and possibly new legal challenges.” the outlet also reported.

According to analysts at the Tax Foundation, Austria places a €3.32 excise duty per 20-pack of tobacco cigarettes. An additional ‘value added tax’ or VAT is also placed on tobacco products, raising the total tax per pack of tobacco cigarettes to €4.23. The Tax Foundation estimates that tax as a share of the final selling price per pack of tobacco cigarettes is 77%.

Regulators across Europe, and many other parts of the world, are struggling to rectify the inconsistencies in laws and regulations pertaining to consumable hemp products. For many years, hemp products were largely limited to textiles. However, many savvy entrepreneurs are bringing more consumable hemp products to emerging markets, and policymakers are scrambling to try to catch up.

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Malta Cannabis Associations Permitted To Sell Concentrates Later This Year

Written by Hazel Norman on February 11, 2025. Posted in Business, Policy.

Malta will forever hold the distinction of being the first European nation to adopt a national recreational cannabis legalization measure. Lawmakers in Malta approved adult-use legalization in 2021, permitting adults to cultivate, possess, and consume cannabis.

Before Malta approved legalization, the only other nations to do so previously were Uruguay in 2013 and Canada in 2018. A major component of Malta’s legalization model is permitting cultivation associations, sometimes referred to as clubs. Members can source cannabis legally through the associations.

So far, cultivation associations in Malta have only sold cannabis flower. However, starting later this year cannabis cultivation associations in Malta will also be able to sell certain concentrated cannabis products to their members.

“Malta’s cannabis associations will be allowed to sell cannabis resin and rosin, the Authority for the Responsible Use of Cannabis (ARUC) Executive Chairperson Joey Reno Vella confirmed to MaltaToday.” reported MaltaToday in its local coverage.

“ARUC is in the process of updating its Directives to permit the distribution of cannabis resin (hash) and similar processed products, such as rosin, through licensed CHRAs. However, it is imperative to highlight that only solvent-free, non-chemical extraction processes will be authorised. The use of solvents and/or chemical agents for the production of cannabis derivatives remains strictly prohibited. Additionally, the conversion of cannabis into oils and tinctures will not be permitted under these amendments,” Joey Reno Vella said according to the media outlet.

Cannabis concentrates, sometimes referred to as cannabis extracts, are very popular among adult cannabis consumers and medical cannabis patients. According to Coherent Market Insights, the global cannabis extract market “is expected to reach USD 38.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031.”

In other recent cannabis news out of Malta, the Authority for the Responsible Use of Cannabis signed an agreement with the University of Malta to conduct cannabis-based research.

“The authority and the university’s chemistry department plan to study pesticides and “substances” found in legal and illegal cannabis by next October, with legal samples from cannabis associations and illegal samples held by the courts due to be tested.” reported Times of Malta.

“The tests aim to scientifically demonstrate how the dangers of controlled – legally grown – cannabis and illegal offerings vary, Reforms Junior Minister Rebecca Buttigieg said.” the local media outlet also reported.

German Pharmacists Oppose Reclassifying Cannabis As A Narcotic Drug

Written by Johnny Green on February 5, 2025. Posted in Business, Policy.

German pharmacist Florian Sedlmeier and other members of Germany’s pharmacy industry are publicly pushing back on an effort by cannabis opponents in Germany to reclassify cannabis as a narcotic drug in the European nation. Cannabis was removed from Germany’s Narcotics List last year as part of the enactment of the CanG law.

“Pharmacist Florian Sedlmeier warns against reclassifying medicinal cannabis as a narcotic drug (BtM). Such a step would increase the bureaucratic burden and make it more difficult to provide patients with rapid care, ” stated the German Cannabis Business Association (BvCW) in its recent newsletter, citing an article from apotheke-adhoc. “He considers the concern expressed by SPD Health Minister Clemens Hoch that medicinal cannabis can be ordered too easily online to be understandable, but stresses that pharmacies carefully check prescriptions and licenses.”

“Reclassification as a narcotic would not curb the black market, but rather limit storage and the range of products available in pharmacies. Pharmacies are currently benefiting from the fact that medicinal cannabis no longer has to be stored in safes and can be prescribed more easily using e-prescriptions or model 16 forms. Instead of returning to the narcotic prescription requirement, Sedlmeier proposes stricter control of medical prescriptions, for example by requiring doctors to submit prescriptions and possible sanctions in the event of misuse.” BvCW also reported.

Germany implemented the first provisions of its new adult-use cannabis legalization law on April 1st, 2024, legalizing the personal cultivation, possession, and consumption of cannabis by adults. Another major component of the first provisions involved the previously referenced removal of cannabis from the nation’s Narcotics List.

According to a recent report by the Bloomwell Group, prescriptions for medical cannabis in Germany increased by roughly 1,000% between March 2024 and December 2024. The report also found that prices for medical cannabis products are decreasing in Europe’s largest medical cannabis market.

Another component of Germany’s new legalization model involves permitting cultivation associations. The application process for cultivation associations started on July 1st, 2024, and to date, 83 cultivation applications have been approved, with hundreds more working their way through the process.

Germany was already home to the largest legal medical cannabis industry in Europe before the enactment of adult-use legalization, and changes in medical cannabis policies and regulations in 2024 have resulted in a domestic medical cannabis boom, as demonstrated by the data in Bloomwell’s recent report.

Legal medical cannabis imports continue to rise in Germany as well. During the first three full months following Germany’s enactment of the CanG adult-use legalization law (Q3), legal medical cannabis imports increased by over 70% compared to the previous period.

Alex Rogers, founder and CEO of the International Cannabis Business Conference, recently visited Helios’ Munich pharmacy location to see their world-class operations firsthand, which can be viewed in the video embedded below. The video provides a great glimpse into Germany’s emerging legal medical cannabis industry:

Ancillary Cannabis Industry Sectors Projected To Experience Major Growth

Written by Johnny Green on February 3, 2025. Posted in Business.

When many people think of the emerging global cannabis industry, they tend to think about cultivating cannabis and selling cannabis. While those are obviously important components of the legal cannabis industry, they are only two sectors. The legal cannabis industry is much more complex and dynamic than just growing and selling cannabis and is made up of several other sectors, all of which have their own opportunities and market potential. Below are some notable examples that entrepreneurs, investors, and innovators should consider.

Cannabis Technology

Nearly every sector of the cannabis industry, including the cultivation and retail sectors, incorporates technology in one way or another. The ancillary cannabis technology sector comprises several subsectors, some of which are listed later in this article. It is arguably the most needed and promising ancillary sector of the emerging legal cannabis industry, and entrepreneurs, investors, and innovators are wise to explore the various opportunities. According to a recent market analysis by Coherent Market Insights, the “cannabis technology market is estimated to be valued at USD 4.10 Bn in 2024 and is expected to reach USD 20.01 Bn by 2031, exhibiting a CAGR of 25.4% by 2031.”

Consumption Devices

One constant in every legal cannabis market is that people will be consuming cannabis, and how they consume cannabis is evolving at a seemingly ever-increasing rate. While some consumers and patients continue to smoke cannabis via more rudimentary methods like joints and pipes, many are using more advanced consumption methods, such as portable vaporizers. The global portable vaporizer sector is already huge and getting bigger with every passing year. According to analysts at The Business Research Company, the portable vaporizer market is “projected to grow from $2.56 billion in 2023 to $2.90 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%,” and is “expected to reach $4.82 billion by 2028.”

Product Testing

A standard component of every market where legal cannabis commerce is permitted is that legal products have to be tested for compliance. Cannabis testing helps consumers and patients know that the products they are consuming are safe and informs them about important information regarding the product’s contents, such as cannabinoid levels. Technavio recently estimated that the size of the global cannabis testing sector will “grow by USD 2.05 billion from 2024-2028.” The Business Research Company has also recently published a projection, estimating that the sector will reach “$6.05 billion in 2028,” and analysts with Research and Markets project a global market value of $12.37 billion by 2035.

Packaging

Cannabis product packaging is another ancillary sector that shows a lot of promise, with most legal cannabis products being stored and dispersed in some kind of required packaging. That presents significant opportunities for companies that specialize in creating effective product packaging options. As more markets become legal across the globe, the demand for cannabis packaging will increase. According to a recent cannabis packaging sector projection by Coherent Market Insights, the “global cannabis packaging market is expected to reach US$ 13.17 billion by 2030, from US$ 2.64 billion in 2023, at a CAGR of 25.8% during the forecast period.”

Food And Beverages

Just as patients and consumers are increasing their use of advanced portable vaporizer technologies, they are also using other smokeless forms of cannabis consumption, most notably foods and beverages. Edibles and liquid consumables are increasing in popularity in markets where they are permitted, and that is reflected in recent market projections. For example, analysts at Allied Analytics estimate that the global cannabis food and beverage market size “was valued at $427.0 million in 2018, and is expected to reach $2,632.0 million by 2026, registering a CAGR of 26.6% from 2019 to 2026.” The food and beverage sector is not limited to intoxicating products. Future Market Insights projects that the global hemp protein powder market alone will be worth over $1 billion by 2035.

Insurance

Business insurance is something that many companies need, and entities in the cannabis industry are no exception. Business insurance helps mitigate the unexpected costs that may arise as a company conducts its day-to-day operations. Insurance in the cannabis industry is not as established as it is in other legal industries. However, more insurance professionals are either working with cannabis companies now or are considering doing so compared to past years. One recent market projection for the emerging cannabis insurance sector estimates that the cannabis insurance market is expected to grow to “USD 6.7 billion by 2032” with a CAGR of “around 14.14% during the forecast period (2025 – 2032).”

Paraguay Exports Cannabis Flower To Switzerland In Historic First

Written by Hazel Norman on February 2, 2025. Posted in Business.

Paraguay first adopted a national industrial hemp legalization measure back in 2019, and the South American nation recently passed a historic milestone by making its first legal export of cannabis flowers to Switzerland.

“The Paraguayan Chamber of Industrial Cannabis proudly announced the first export of 100% Paraguayan industrial cannabis flowers, known as Kuñatai, to Switzerland. This flower, registered with specific cultivars, stands out for its high quality and purity, meeting the rigorous standards required by the Swiss market and opening doors for expansion to other destinations in Europe.” reported Sechat in its local coverage (translated from Portuguese to English).

“The export of Kuñatai to Switzerland represents a significant step forward for Paraguay on its path to internationalizing its cannabis industry.” the outlet also stated.

Paraguay’s international cannabis industry pursuits come at a time when nearly six dozen nations around the world have adopted medical cannabis legalization measures, many of which now import and export medical cannabis products.

Additionally, Uruguay, Canada, Malta, Luxembourg, Germany, and South Africa have adopted adult-use cannabis legalization measures, although none of those countries currently permit the importation of recreational cannabis products and all adult-use cannabis is produced domestically either by individuals for personal use or by local companies.

Regional adult-use cannabis commerce pilot trials are also currently operating in the Netherlands and Switzerland. Pilot trials are also expected to launch in Germany soon. Two dozen states in the United States have adopted recreational cannabis legalization measures, although cannabis remains prohibited at the federal level in the U.S.

Analysts at Research and Markets estimate that “the global cannabis cultivation market was valued at USD 43.52 billion in 2023 and is anticipated to record steady growth over the forecast period, with a CAGR of 5.25% through 2029.”

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Himachal Pradesh Cabinet Approves Hemp Pilot

Written by Hazel Norman on February 1, 2025. Posted in Business, Policy.

The government in Himachal Pradesh, a state in India, has approved a pilot study to examine the potential benefits of permitting industrial hemp cultivation and the creation of related medical products and scientific research.

“The Himachal Pradesh cabinet has approved the report of a committee recommending the controlled cultivation of cannabis for industrial, scientific, and medicinal purposes, setting the stage for its legalisation in the state. The report, previously passed by the Himachal Vidhan Sabha, was prepared with inputs from opposition BJP members, horticulture experts, and scientists.” Indian Express stated in its local coverage.

“Controlled cannabis cultivation will be undertaken jointly by two agricultural universities—Chaudhary Sarwan Kumar Krishi Vishvavidyalaya, Palampur, and Dr YS Parmar University of Horticulture, Nauni, Solan. The Agriculture Department has been designated as the nodal body for the initiative.” the outlet also reported.

A recent market analysis by Knowledge Sourcing Intelligence estimates that the global industrial hemp market “is forecasted to grow at a CAGR of 17.75% between US$9.913 billion in 2025 to US$22.438 billion in 2030.”

A separate market analysis recently published by Markets and Markets predicts an even larger global industrial hemp market in the future, estimating that “the industrial hemp market is estimated at USD 11.03 billion in 2024 and is projected to reach USD 30.24 billion by 2029, at a CAGR of 22.4% from 2024 to 2029.”

The booming industrial hemp market is not limited to just industrial applications and medical products. According to analysts at Maximize Market Research, “the global hemp-infused beverage market is experiencing significant expansion, driven by increasing consumer awareness of hemp’s health benefits and a growing demand for functional, wellness-oriented drinks.”

“In 2023, the market was valued at USD 3.63 billion and is projected to grow at a compound annual growth rate (CAGR) of 28.9% from 2024 to 2030.” the analysts predict.

Legal Retail Cannabis Isn’t Associated With Rise In Emergency Department Visits

Written by Frank Schuler on January 31, 2025. Posted in Business, Science.

Canada was not the first country to adopt a national adult-use cannabis legalization measure. That distinct title goes to Uruguay, which legalized recreational cannabis in 2013, five years before Canada did so. However, Canada was the first G-7 nation to legalize recreational cannabis and remains the largest legal adult-use cannabis commerce experiment on earth.

According to a recent market analysis by Research and Markets, revenue generated by Canada’s legal cannabis cultivators “has ballooned at a CAGR of 43.4% to reach $13.1 billion over the past five years.”

Canadian cannabis companies dominate the legal global cannabis industry, an industry that analysts at The Business Research Company estimate was worth “$21.79 billion in 2023” and “$26.56 billion in 2024” and is projected to grow to an estimated “$58.93 billion by 2028 at a CAGR of 22.0%.”

Researchers at Allied Analytics offer up even rosier estimates and projections, finding that the legal cannabis market “was valued at $25.7 billion in 2021, and is estimated to reach $148.9 billion by 2031, growing at a CAGR of 20.1% from 2022 to 2031.”

A common claim made by cannabis opponents who try to thwart the growth of the emerging legal cannabis industry hinges on ’emergency room visits spiking due to cannabis legalization.’ The results of a recent study conducted in Canada throw cold water on those claims. Below is more information about the study and its findings via a news release from NORML:

Toronto, Ontario: The establishment of licensed cannabis retailers is not associated with any uptick in marijuana-related emergency department (ED) visits, according to longitudinal data published in the International Journal of Drug Policy.

A team of Canadian researchers assessed the impact of cannabis store openings on ED visits in 278 communities in Ontario.

They found “no evidence that the allocation of cannabis retailer licenses led to changes in cannabis-related ED visits.”

Similarly, no changes in ED visits related to either alcohol use or opioids were identified.

“Despite the anticipation that the introduction of licensed cannabis retailers might influence such health outcomes, our findings suggest no significant changes in ED visit rates following the allocation of retail licenses,” the study’s authors concluded. “This research highlights the complex relationship between the availability of cannabis retail options and public health metrics. … Given these findings, policymakers may consider focusing on understanding regional factors (e.g. cannabis pricing and retailer hours of operation) beyond retail density that could influence substance-related health outcomes.”

Other studies have failed to identify any association between dispensary openings and rising local crime rates. Studies have documented a relationship between dispensary openings, rising home values, and reductions in opioid-related mortality.

Full text of the study, “The impact of recreational cannabis retailer allocation on emergency department visits: A. natural experiment utilizing lottery design,” appears in the International Journal of Drug Policy. Additional information is available from the NORML Fact Sheet, ‘Societal Impacts of Cannabis Dispensaries/Retailers.’

Report: German Medical Cannabis Prescriptions Increased 1,000% In 9 Months

Written by Johnny Green on January 28, 2025. Posted in Business.

“Despite the rapid increase in cannabis patients, companies, doctors and pharmacies have ensured a secure supply,” explained Niklas Kouparanis, co-founder and CEO of Bloomwell, according to reporting by apotheke-adhoc.

“We are at the very beginning of a new era,” emphasized Kouparanis. “It is now the task of the next federal government to shape the regulatory framework in such a way that jobs continue to be created, investors are given security and innovation is promoted so that patients continue to benefit from cost-effective access to therapy.”

Germany adopted the first provisions of its new adult-use cannabis legalization law on April 1st, 2024. The provisions involved permitting adults to cultivate, possess, and consume personal amounts of cannabis. Additionally, cannabis was removed from Germany’s Narcotics List. The latter provision has provided a major boost to Germany’s medical cannabis industry.