The cannabis market is growing rapidly, and Juicy Fields created the Crowdgrowing solution to tap the market with minimal effort
The cannabis market is generating, and Juicy Fields created the Crowdgrowing solution to tap the market with minimal effort theme that was once banned in modern society is slowly but steadily gaining traction in the mind of the usual customer. More people join the debate about the positive effects this plant has on the human body and mind. There are even such bold claims that this herb can cure diseases like Parkinson’s and Alzheimer’s, but also milder but still significant conditions like anxiety, depression, and epilepsy. Pharmaceuticals have quickly realized this, and as a result, in 2019, the legal cannabis outbreak segment accounted for 71% of total revenue in this emerging industry.
A recent report from Grand View Research states that marijuana space is expected to grow to $ 73.6 billion by 2027. The industry will expand at a compound annual rate of 18.1% during this period.
As the year 2019, the largest geographic market in North America, with a market share of over 70%. However, the second place is occupied by Europe, where the leading countries include: Germany, Italy, the Netherlands, Croatia, Poland, the Czech Republic, Switzerland, and Australia.
Part of the reason the EU is lagging behind North America by a wide margin is the stricter market conditions. For example, financing for one type of cannabis business is generally difficult to obtain on the mainland, due to the numerous regulations imposed. On top of that, getting a license to grow could be a separate business.
Germany is one of the countries that has an exciting vision of cannabis. In general, the plant is considered illegal in the country. However, there is a law that allows maximum personal possession, with an amount that varies from state to state. It seems like it’s only a matter of time before the herb gains legal status, especially with more members of parliament voicing views to soften the stance on cannabis.
All of this opens doors for smart entrepreneurs to take advantage of the emerging opportunity. A new company, based in Berlin, where the personal possession limit is set at 15 grams, has decided to pave the way. Juicy Fields offers a suitable solution for someone who wants to benefit from the cannabis industry without the hassle of going through the legal process.
Here’s how it works: You would buy a plant, which will be grown by licensed greenhouses, and when the harvest is sold to legal markets, you will reap the benefit. On the user side, the process occurs entirely online. It looks great on paper. From a commercial perspective, it helps you access that market for medical cannabis, which is slowly but surely gaining strength. Keep in mind that when the plant is legalized worldwide, demand will likely increase, which will subsequently increase the selling price of the sprouts. Following basic economic logic, the result should be higher profits.
Overall, you can choose from 4 options for Crowd grow using the platform, where you can start with as little as € 50. The harvest time is approximately three months, which means that it is not for the impatient player. Other options are priced at € 2,000. They offer higher returns, but they also require a more extended contract.
It appears that your business is highly dependent on the partnerships Juicy Fields establishes. The company claims that its partners operate in countries where the regulatory climate is favorable. These countries include South Africa Colombia, Lesotho, North Macedonia, and Germany. Since 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 extra money to enter the cannabis market naturally.
With the regulatory climate shifting towards more hemp-friendly rules and regulations, we are likely to see even more players coming to the industry. A general rule of thumb is that early players almost always have the upper hand, exceptionally if the strategy is executed correctly. That said, the European market still has a long way to go until it reaches the US market, so opportunities are plentiful and waiting to be capitalized.