Cannabis Market is Growing Fast, And Juicy Fields Created The Crowdgrowing Solution to Tap Into The Market With Minimum Efforts
A topic once forbidden in modern society is slowly but steadily gaining traction in the mind of the typical user. More people are joining the debate about the positive effects this plant has on the human body and mind. There are even claims as bold as that this herb has the capacity to heal diseases such as Parkinson and Alzheimer, but also milder, yet still significant conditions such as anxiety, depression, and epilepsy. Pharmaceuticals have quickly caught on to this, and as a result, in 2019 the legal marijuana buds segment accounted for 71% of total revenue in this emerging industry.
A recent report by Grand View Research claims the marijuana space is expected to grow to as high as USD 73.6 billion by 2027. The industry will expand at a CAGR of 18.1% over this period.
As of 2019, the largest geographical market is the North American one, with a share of more than 70%. However, the second place is occupied by Europe, where the leading countries include: Germany, Italy, Netherlands, Croatia, Poland, Czech Republic, Switzerland, and Australia.
Part of the reason why the EU is falling behind North America by a large margin is the more stringent conditions in the market. For example, financing for a cannabis type of business is generally hard to obtain on the continent, due to the many regulations imposed. On top of that, obtaining a license to grow could be a separate business of its own.
Germany is one of the countries that has a very interesting take on cannabis. Generally, the plant is considered illegal in the country. However, there is a law that allows for maximum personal possession, with the amount varying from state to state. It seems to be only a matter of time before the herb obtains a legal status, especially with more members of parliament expressing views to soften the stance on cannabis.
All of this opens up the doors for savvy entrepreneurs to seize the emerging opportunity. A recent start-up, conveniently headquartered in Berlin, where the boundary for personal possession is set at 15 grams, has decided to pave the way. Juicy Fields offers a fitting solution for someone who simply wants to profit from the cannabis industry, without having the hassle to go through the legal processes.
Here’s how it works: you would purchase a plant, which will be grown by licensed greenhouses, and when the harvest is sold to legal markets, you would cash in the profit. On the user end, the process happens entirely online. It looks great on paper. From a business perspective, it helps you tap into that medical cannabis market, which is slowly but surely gaining traction. Consider, that when the plant is legalized worldwide, it would probably increase the demand, which will subsequently increase the price of selling the buds. Following basic economic logic, the result should be larger profits.
Overall, you could choose between 4 options to Crowdgrow using the platform, where you could start with as little as €50. The time to harvest is roughly 3 months, meaning it is not for the impatient player. Other options are priced at €2,000. They offer greater returns, but also require a lengthier contract.
It seems their business is largely dependent on the partnerships that Juicy Fields strikes. The company claims its partners operate in countries, where the regulatory climate is favorable. These countries include Colombia, North Macedonia, South Africa, Lesotho, and Germany. As this business is relatively new, only time will tell if it will withstand the current climate. However, it offers a hassle-free way for anyone with spare cash to enter the cannabis market in an easy way.
With the regulatory climate shifting towards more marijuana-friendly policies, it is likely we will see even more players entering the industry. An economic rule of thumb is that first-movers almost always have the advantage, especially if the strategy is executed right. With that said, the European market has still a long way to go until it reaches the American one, so opportunities are currently abundant and waiting to be capitalized on.
The post Cannabis Market is Growing Fast, And Juicy Fields Created The Crowdgrowing Solution to Tap Into The Market With Minimum Efforts appeared first on The Merkle News.
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