Alphagreen targeting new European markets as online CBD retailer eyes growth

Online CBD marketplace Alphagreen has announced it is planning to move into new European markets.

The digital platform, which offers an online store for customers and business services for sellers, will begin operating in Germany, France, Spain, Italy, Sweden and Poland.

CBD investors are banking on the lifestyle trend seen in the UK in recent years being replicated in Europe. A 2019 Yougov poll found nine percent of Britons had tried the cannabis extract.

Alphagreen is hoping to capitalise and predicts European sales will amount to 50 percent of its UK business in just two years.

The company offers 160 brands with more than 2,800 products and forecasts it will grow by 300 percent in 2021 after a surge in demand during the pandemic.

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.”

“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.” 

As previously reported by our sister title Cannabis Wealth, the company is engaged in a funding drive via crowdsourcing platform Seedrs.