As awareness and acceptance of cannabis take root around the world, a sister-brother team of entrepreneurs in Germany are at the forefront of Europe: Anna-Sophia and Niklas Kouparanis. The siblings are co-founders of the leading medical cannabis holding company, the Bloomwell Groupwho recently published the European Cannabis Market Survey – an overview of the expectations and opinions of American cannabis consumers on this booming sector abroad.
The duo launched the Bloomwell Group together in June 2020. In a year and a half, the company grew to 200 employees and generated some five million euros. Recently they closed a $1 million seed funding roundwith Curaleaf (OTC: CURLF) Boris Jordanlead investor and board member.
Building Cannabis Businesses
“I’ve been building cannabis businesses for over five years, so it was exciting to be able to share the experience with my sister. We are among the first entrepreneurs in the country to successfully enter the medical cannabis market. Now we are preparing for the adult market,” Niklas told Benzinga.
Coming from a background of migrant workers, the siblings were inspired by the courage and determination of their grandfather who moved to Germany in the 1960s in search of a better life. Both Anna and Niklas are the first generation in their families to go to college and graduate.
learn from each other
“I learned a lot from my brother Niklas. He has been building businesses for over five years. While I had also built businesses over the past few years, he taught me what I needed to know initially to get into the cannabis space,” Anna said.
What’s in Bloomwell’s European Cannabis Market Report?
At least 80% of respondents agreed that cannabis companies are an attractive investment options. While 61% said they would “invest in European cannabis stocks” and expressed positive sentiments regarding cannabis tourism.
While the European cannabis industry has made some progress over the past year with Luxembourg and Malta decriminalizing possession and the Netherlands and Switzerland launching pilot cultivation schemes, the jewel in the European cannabis crown is Germany.
The numbers don’t lie
“A recent BDSA report predicts that the global cannabis market will grow steadily to over $61 billion by 2026. We anticipate, and are optimistic, to see more investment in European cannabis companies as these markets expand legalized cannabis to adults and disrupt the industry,” Niklas mentioned.
“Germany has 82 million inhabitants, which is more than Canada and California, two of the largest cannabis markets in the world today. Therefore, when Germany opens up to cannabis for adult use, it will become the largest market in the world. The future language of cannabis will be German,” he added.
The American connection and the potential demand for cannabis in Germany
The survey also looked at how the United States can benefit from licensed cannabis markets in Europe, starting with Germany, which is expected to have demand for 400 tons of cannabis per year after legalization. To help meet this dramatic demand, 80% of Americans surveyed said “the United States should export cannabis to Europe,” potentially increasing national revenue.
Sounds like a win-win? Yes it is
Niklas and Anna told Benzinga that opening up this type of international trade will create new opportunities for both countries. In the meantime, cannabis seeds can be exported.
“While the United States would benefit even more from increased exports, there is now an opportunity for cannabis companies in the United States to get a head start in the upcoming adult market,” Niklas said. “We are positioned to be the gate-keeper for the adult use market, so these types of partnerships with Bloomwell Group in the existing medical market will lead the way.
Anna completely agrees with her brother.
“Bloomwell takes the lead in ensuring product quality and safety, affordability and access will be the pillars of building a thriving market, and it is crucial that German leaders shape the framework to foster these conditions for and with local licensed canna businesses,” Anna said. “With these key practices in place, Germany is well on its way to becoming a compelling leader in the global cannabis industry.”
Benzinga’s point of view: Make sure your passport is up to date.
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