By 2023 To finish, it’s natural to think about what happened in the markets we cover. But when it comes to cannabis, the answer is “not much,” which won’t help cannabis startups that already face a challenging financing environment.
Specifically, 2023 was not the year in which Germany legalized recreational cannabis use for adults. This is important because this is not what the legal cannabis market once expected, and the more there is a misalignment between reality and what investors expected, especially as public companies consolidated ExpectationsIt’s rarely good news. Or at least not for everyone.
“One of the trends to look for in 2024 is consolidation,” said cannabis-focused investor Matt Hawkins, a managing director at boutique venture capital firm Entourage Effect Capital. “Companies have spent significant capital preparing for a large business market in Germany. [As] The chances of this happening are diminishing, and companies may not be able to sustain their operations without joining forces.
Let’s take a look at what to remember from 2023 and what to expect in 2024, with the help of a new brand. Global Cannabis Report From market intelligence company Prohibition Partners.
What didn’t happen
Expectations that the European Union’s most populous country might legalize recreational marijuana did not come out of nowhere. That possibility has been on the table ever since Traffic Signs Alliance It took power in Germany in December 2021. But this coalition of Social Democrats, liberals and greens has watered down its plans so much since then that one has to wonder how prepared it is to overcome legal challenges, which should not be surprising.