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The rise in demand for American marijuana products in Europe has driven some brands to spread their wings globally. Some of the companies targeting global growth represent a growing section of the industry, with some cannabis operators finding that expanding internationally is easier than navigating regulations in the United States.
Lehua Brands, a manufacturer of infused drinks based in California, is one of these brands. The company’s CEO, Sierra Elaina, stated that issues such as market oversaturation, overtaxation and issues with distribution were affecting those involved in the industry.
The company isn’t dealing with these issues in the Canadian market, where it recently entered. The company launched its zero-carb, zero-calorie, sugar-free infused sparkling water at more than 100 stores in Ontario.
Other American operators that have ventured into Canada include Jeeter, which expanded into Canada in March. In a statement, the company’s co-CEO, Sebastian Solano, described the process as a sort of culture shock. The company primarily markets pre-rolls in Ontario and recently moved into British Columbia. This comes after it partnered with Final Bell Holdings International to manufacture products in the Canadian market.
Others such as Wyld, an edibles maker based in Oregon, have been operating in Canada for a couple of years now.
Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), a company based in New York, has also been preparing for expansion across Europe since it acquired Emmac Life Sciences in 2021. Last year, the cannabis multistate operator bought a processing facility in Portugal from Clever Leaves. It soon started exporting flower from this facility to the United Kingdom.
Curaleaf CEO Boris Jordan also revealed recently that the company started exporting marijuana to Germany. In a recent interview, Jordan declared that the company was focused on finding new opportunities for growth in the German market, noting that the country would soon be the biggest market in Europe. This comes after Germany’s recreational marijuana law went into effect earlier in the year, a move that saw Curaleaf’s medical sales increase throughout the country.
While the legislation doesn’t permit the creation of adult-use stores similar to those under state-legal programs in the United States, it is expected that the shift in policy will bolster Germany’s burgeoning medical marijuana market. A report released in late July determined that the number of medical cannabis prescriptions issued in the country since March have risen by 400%. Internal data also showed reducing prices and a steady supply chain with more flower varieties for patients.
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