Germany's medical cannabis market totalled $73 million last year and three years from now, it is expected to rocket to $2.7billion. Those figures come from the leading predictive analytics and market research firm for the legal CBD and cannabis industries, the Brightfield Group. Meanwhile, Arcview Market Research and BDS Analytics both project cannabis sales in Germany to reach close to $1.6 billion by 2022.
The country’s market is projected to see nearly $605 million in sales over the next two to three years, with more than 691,000 legal consumers - a significant increase from estimated CBD sales of approximately $38 million in 2018. Researchers forecast Germany's CBD market to be the largest in Europe and for good reason.
Germany is becoming a leading European Union member in the emerging international cannabis industry, home to more than 365,000 physicians, 2,200 hospitals and thousands of clinics. Patient numbers are steadily climbing across the country as cannabis products become more popular, though information, education and general knowledge of these products can still be hard to come by.
This is where EuroLife Brands Inc. (CSE: EURO, OTCPK: CANVF, Forum) , a leader in the medical, recreational and CPG global cannabis markets, saw a prime opportunity.
Focused on delivering a positive impact for patients and establish first-mover advantage into this significant cannabis marketplace, EuroLife announcedits first international cannabis education offering for the German market, the biggest outside of North America, on September 10th, 2019.
Anyone looking for information on cannabis from the grand implications of the marketplace to how it affects the human body needs detailed and unbiased information supported by physicians as well as educators, and that’s exactly what EuroLife’s Cannvas platform offers - exclusive education with detailed consumer analytics to empower the medical, recreational and CPG cannabis industry worldwide through a data-driven CBD marketplace.
The German version mirrors the established Cannvas.Me platform and is already available online at Cannvas.de. It offers the same cannabis articles and learning modules that are backed by physicians and approved by educators for anyone curious about the potential benefits of health care through cannabis.
Cannvas.de also uses the same cutting-edge machine-learning algorithms and artificial intelligence (AI) that can contextualize and adapt to each user. It delivers timely information that is relevant to users based on their behaviours and interests.
The Brightfield Group also estimates that Europe’s legal medical cannabis sales in 2018 totalled approximately $316 million. Looking beyond to 2023, its analysts project that market will grow by a massive compound annual growth rate (CAGR) of 83% to touch as much as $8 billion within five years.
EuroLife Brands is taking this movement to Germany first, then intends to extend it across the European Union. As the Company's Chief Executive Officer, Shawn Moniz stated, Germany will be the first of many European markets where the Company will be expanding its platforms.
“We planned for the inclusion of additional language sets in the Cannvas suite of platforms with the goal of expanding into key markets and look forward to adding many more languages as we continue to deliver evidence-based cannabis education to the world.”
With a population of just over 80 million, that market serves as a key catalyst for EURO’s strategic revenue growth next year.
eurolifebrands.com
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.