LONDON– AlphaGreen, the UK’s leading marketplace for selling CBD, is launching into six further European countries, following its launch in the UK in 2019. Germany, France, Spain, Italy, Sweden and Poland are all set to benefit from the imminent arrival of the new ecommerce platform and technology provider.
With Alphagreen, customers have products to alleviate health and wellness troubles related to anxiety, pain and sleep. The CBD marketplace is one of the fastest growing markets in the world. Growth is anticipated at compound annual growth rate (CAGR) of 40.4% for the period of 2020-2025. Some forecasts predict that the global CBD industry will reach $20+ billion by 2024 . This is likely to be just the start of a huge wellness trend.
Fifteen per cent of the UK population say they have bought CBD – 7.8 million adults . These six additional countries have a combined population of more than 300 million people 4 . If these figures are extrapolated to the new European markets, that’s a huge marketplace of customers using the platform for CBD purchases. It is anticipated that sales across the new markets will reach 25% of UK sales in the first year and 50% in year 2. There is no doubt that sales in these European markets will flourish as consumers search for natural solutions across pain, sleep and anxiety. Sales are expected to quickly exceed those in the UK.
The World Health Organization has recognised that CBD may have the potential to help health issues like insomnia as well as anxiety which can prevent you from getting a good night’s sleep.
Use of CBD has also been shown in clinical trials to help with sleep, anxiety and pain.
Alphagreen has enjoyed phenomenal growth since its UK launch and has grown from listing just four brands with 50 products to 160 brands with more than 2,800 products for customers to choose from. It is expected to grow by another 300% in 2021. Nowhere else has a wider choice of quality CBD products. Revenue from the site has surged more than 450% in under a year.
Co-founder and CEO of Alphagreen, Alexej Pikovsky said, “The CBD market is here to stay and we anticipate huge growth. Many believe that CBD will be the single biggest driver of the wellness market over the next few years. Alphagreen is perfectly positioned to support and supply the increased demand for CBD.”
He added: “We are proud to be working with some of the best brands globally and the public have unrivalled choice of cannabis products on our online marketplace. In fact, our market place allows top brands from the UK, US and Canada to extend into the EU, utilising the Alphagreen network and fulfilment capabilities, all of which drive further growth across the CBD industry sector.”
(This information is primarily sourced from Alphagreen. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).