Global cannabis markets are flourishing like a weed. The green rush is projected to reach €140.5 billion by 2027 from €9.2 billion in 2018. As buying cannabis becomes easier in Europe and legal in many U.S. states, so has investing in it. More and more everyday cannabis enthusiasts are showing an interest in reaping the rewards of the global boom, and Berlin-based JuicyFields got a plan for all of them.
Despite the boom, there is an established global cannabis monopoly, which makes it difficult for new entrants to break through and eventually turn a profit. Even in the wake of the U.S. 2018 farm bill, a license to grow cannabis in The Land of Opportunity can cost you up to an astonishing $44,517. While in Europe, banks are, to put it mildly, hesitant to grant credit to business in the cannabis industry.
To offer an everyday solution for everyday cannabis enthusiasts and to crack the existing monopolies, JuicyFields launched its legal cannabis crowdgrowing platform on 22 March 2020 in Germany. Crowdgrowing with JuicyFields enables anyone to cultivate cannabis legally and earn profits from it.
Everyday cannabis enthusiasts interested in joining the cannabis farming industry collaborate with cannabis cultivators worldwide. Such Crowdgrower can buy a plant, and JuicyFields will organize growing, selling, and legal aspects on their side. Then Crowgrower receives his profit.
As Alan Glanse—CEO at JuicyFields—says:
"We don't just raise money for the development of cannabis startups all around the world, we also share the profit from each crop of our partners with our members for 5 years. Our crowdfunding consultants have experience of successful crowdfunding work in America and Europe and we made the platform as international as possible. "
Global oil, gas, and even marijuana stocks took a serious hit in March 2020 due to a worldwide grinding halt, thereby depreciating the overall share value of the stockholders. In fact, since March 2019, most of the cannabis stocks have lost close to half of their value, with the setbacks particularly evident for the Canadian cannabis stocks.
Juicy Field's Crowdgrowing technological solution can change the game for people with cannabis ambitions. It is because crowdgrowing revenues do not rely on the general industry or the conditions of the financial markets.
Moreover, interest in CBD products and medicinal cannabis rich in THC is escalating rapidly in Europe. The continent is home to nearly 742 million people and is twice in size than the U.S. and Canada's cannabis markets' combined. Therefore, if we accept Cowen's estimate that legitimate cannabis sales in the USA can cross $75 billion by 2030, then projecting that sum to calculate Europe's future revenues offers an unmistakable reason why established cannabis players in North America and Canada are now focusing their gaze on Europe.
Still, while the growth is real, cannabis enthusiasts, notably those in the U.S., shall discover that broadening into Europe offers an unparalleled set of challenges—from dealing with foreign bureaucracies to guaranteeing compliance with United Nations treaties—that few have dealt in their entrepreneurial lives to date. Yet, there are serious considerations in the E.U. to legislate in favor of recreational cannabis.
Once inked, these legislations will enable an explosive growth that will propel the European revenues from the humble grounds of €274 million to a whopping €2.28 billion by 2024. To take the future head-on, Berlin-based JuicyFields plans to accept ten fresh projects worth about €50 million by the end of September 2020 and is looking to scale that figure up to €150 million by New Year's Eve. Expectedly, Germany, Poland, Italy, and Canada are the largest markets on the platform, yet other countries shall soon be joining this illustrious list.
