As 2023 comes to an finish, it’s only pure to replicate on what occurred within the markets we cowl. However relating to hashish, the reply is “not a lot,” which gained’t assist hashish startups which might be already dealing with a difficult funding surroundings.
Specifically, 2023 wasn’t the yr that Germany legalized grownup leisure hashish use. That issues as a result of that’s not what the authorized hashish market as soon as anticipated, and each time there’s misalignment between actuality and what buyers anticipated, particularly when public firms boosted mentioned expectations, it’s hardly ever excellent news. Or at the very least, not for everybody.
“One pattern to look out for in 2024 is consolidation,” mentioned cannabis-focused investor Matt Hawkins, a managing principal at specialised VC agency Entourage Impact Capital. “Firms have spent important capital in preparation for a large business market in Germany. [As] the probabilities of that taking place fade, firms won’t have the ability to help their operations with out becoming a member of forces.”
Let’s check out what to recollect from 2023 and what to anticipate in 2024, with assist from a brand-new global cannabis report from market intelligence agency Prohibition Companions.
What didn’t occur
The expectations that the EU’s most populated nation would possibly legalize leisure marijuana didn’t come out of skinny air; this chance was very a lot on the desk ever since a traffic light coalition took energy in Germany in December 2021. However this coalition of social democrats, liberals and greens watered down its plans a lot since then that one has to surprise how nicely ready it was to beat authorized challenges that shouldn’t have come as a shock.
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