The legalisation of CBD (cannabidiol) by the European Commission has led to a substantial expansion of the market as a whole. The ongoing research into this cannabinoid supports this growth more and more each month. The hemp flower is indeed helpful in many areas, such as the medical, food and cosmetic industries.
However, the leading trade in this market remains that of CBD cannabis. Intended for direct consumption, it is authorised for sale thanks to its very low concentration of tetrahydrocannabinol (THC), the psychotropic molecule in cannabis, making it a drug.
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Let’s now look at a short summary of the state of the CBD market in Europe.
CBD market
In the European Union, almost 50% of the hemp production, the plant from which the CBD flower is derived, is produced in France. The other main players in this market are Romania, Lithuania and the Netherlands. A good part of these harvests is destined for the CBD cannabis trade. And since the legalisation of this molecule by the EU, the taboo aspect surrounding it for many years has dissipated a little, and a huge craze has quickly boosted this market.
The virtues of CBD are as surprising as they are varied, and different product ranges have emerged. Creams, massages, oils, flowers, infusions, and beauty products, but also valuable for the medical field, the possibilities CBD offers seem endless.
Economy and legislation
The ever-growing appeal of CBD to Europeans generated a boom. And according to figures from a European Union report on this molecule dating from 2019, almost 47% of Europeans are in favour of the cannabidiol trade. Another telling figure from the same study is that over 77% of them already thought at that time that CBD should be easily accessible for consumption.
However, its regulation within Europe varies from one member state to another. For example, in France, the law requires that the presence of THC in any CBD product be kept below 0.2%. While in Switzerland and Italy, for example, its concentration is authorised up to 1 and 0.6%.
Recent democratisation, therefore, was achieved against all odds, as many countries have long voted for laws in favour of its penalisation. However, this has not prevented some people from growing and marketing hemp, particularly in the textile and materials industries.
Today, according to various studies, its overall turnover in the EU is estimated at over 470 million euros. This would represent almost 32% of the global CBD market. According to forecasts, this market could reach 25 billion euros by 2025.
Some figures on the CBD market:
- As much as 44% of the sales volume of CBD products is attributed to the pharmaceutical sector.
- About 45% of CBD sales are made online.
- 1 in 10 people in Europe have already tried CBD.
- 70% of regular CBD consumers are men.
- 15 Billion euros, the weight of the global CBD market in 2025.
- Almost 50% of product sales are CBD oils.
What are the reasons for the CBD success story?
CBD helps regulate the activity of the endocannabinoid system, interacting with neurotransmitters. This characteristic makes it a perfect ingredient for anti-depression and anti-anxiety drugs. As a result, the World Anti-Doping Agency (WADA) 2018 removed cannabidiol oil from the list of banned substances, but synthetic cannabinoids with the same effects as THC were forbidden.
CBD thus appears to patients as a promising alternative to traditional treatments with numerous side effects and high addictive potential.
Since then, CBD oil manufacturers have focused on creating cannabidiol-based skin care, lotions, edibles and pet products. The explosion in sales of a wide range of CBD-enriched products, coupled with new product launches and an expanding product line in development, will provide exciting opportunities for market players such as JustBob.shop!