Ranking Europe’s Most Promising CBD Markets
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Table of Contents
Ranking Europe’s Most Promising CBD Markets
Summary
What Is CBD?
CBD Forms
CBD Around the World
CBD and Europe
CBD and Covid
What Factors Can Affect A CBD Market?
Germany
The UK
Switzerland
Austria
Final Thoughts
Frequently Asked Questions (FAQs)
What is CBD?
What is a Novel Food?
Where is CBD legal in Europe?
What is the most promising CBD market in Europe?
Where is the largest CBD market in the world?
What impact has Covid had on the CBD industry?
What other countries in Europe have promising markets?
References
Summary
While other industries have buckled under the weight of the COVID-19 pandemic, CBD businesses have enjoyed unprecedented success over the past 2 years. In fact, the market will likely continue over the coming years. As with any growing market, interest in the possible investment opportunities has soared. However, CBD regulations around the world differ vastly, so it’s important to understand the market’s outlook before investing. Here, we discuss the most promising CBD markets in Europe, including a brief analysis of the world CBD market as a whole and the impact the pandemic has had on the CBD industry.
It is no exaggeration to say that CBD is currently in vogue. It has recently established itself as a formidable presence in the wellness sector. Despite this, the CBD market is still thought to be in its infancy, as studies continue to uncover just what a powerhouse it could prove to be in the not-too-distant future. Due to its increasing popularity, the amount of CBD products available on the market across the globe is staggering—with no signs of this expansion slowing any time soon.
CBD is gaining momentum across many corners of the globe, and investors are starting to wonder which markets offer the best financial prospects. This article considers CBD and how interest has piqued worldwide before ranking Europe’s most promising CBD markets.
What Is CBD?
CBD stands for cannabidiol and is one of 113 chemical compounds that originate from the Cannabis sativa plant. Other compounds from this plant include tetrahydrocannabinol (THC) and cannabinol (CBN). CBD is often taken as a natural supplement in various forms because it is believed to possess a myriad of health and wellness benefits.
CBD is sometimes confused with THC, and it is for this reason that stigma and misunderstanding surround it. THC is best known as the primary psychoactive compound from the Cannabis sativa plant. It is important to stress that CBD does not have the same psychotropic capabilities as THC despite deriving from the same plant.
As CBD is finally understood as research expands and the difference between THC and CBD is more understood, CBD’s stigma is being shed across numerous countries worldwide. As a result, many countries have promising CBD markets that are set to explode and expand further in the near future. CBD is not legal everywhere in the world, but it is in most places.
CBD Forms
There are three different forms available of CBD products. Let’s take a brief look at each:
-
Broad-spectrum CBD
This form of CBD does not contain any THC. However, it does include various other components of the Cannabis sativa plant, so it isn’t just CBD like CBD isolate. Broad-spectrum contains other cannabinoids, flavonoids and terpenes, which some believe can offer more advantages than just CBD on its own.
-
Full-spectrum CBD
This CBD form has small amounts of all compounds of the Cannabis sativa plant, meaning it can include trace amounts of THC. A primary benefit of full-spectrum CBD is what’s known as the “entourage effect”. This is when multiple components—such as phytocannabinoids, terpenes and flavonoids—of the plant work together synergistically. They are believed to create more benefits than if each component was taken individually. Full-spectrum is often selected by people who wish to maximise the benefits of the cannabis plant.
-
CBD Isolate
As the name suggests, CBD isolate is pure CBD. There are no other compounds from the cannabis plant contained within. CBD beginners tend to favour isolates before exploring formulations containing some of the other cannabis plant compounds.
CBD Around the World
Before we dive into looking at Europe’s CBD markets, let’s consider how CBD is viewed worldwide. Generally speaking, cannabis is illegal, and CBD is legal in most countries. However, it is not as simple as this. Because CBD derives from the cannabis plant, its relation to marijuana often taints its legality. In a nutshell, this means that not everyone can grow, produce or buy these products. It is almost an impossibility trying to explain the legality of CBD worldwide, as each country has its laws about cannabis that are constantly changing.
CBD and Europe
The CBD market in Europe is vast. In fact, it is the second-largest market after North America, with 31% of the global CBD market share. It is important to note that the CBD industry in Europe is still in its early stages but is already showing huge growth potential. The European CBD market is gradually catching up to the American market. Indeed, until hemp was legalised in the USA, most of the hemp used to manufacture cannabis products in the US was imported from Europe!
It is important to note that EU regulations control CBD sales across Europe, but each country has the right to interpret and enforce these regulations as it sees fit. Therefore, the legality depends on the country. CBD is legal in many European countries such as Austria, Holland, Spain, Italy, Denmark and the UK. CBD is illegal in a few countries in Europe, such as Albania and Iceland.
CBD and Covid
It cannot be ignored that the virus Covid-19 has positively affected CBD demand around the world. While Covid negatively impacted much of the global economy, for CBD, it seemed to have the opposite effect. This is thought to be partly due to uncertain times and people feeling the need to potentially restore their sense of equilibrium.
This is also down to people becoming more aware of CBD and its purported advantages. Add to this that Covid led to people staying in their homes and shopping online, and much of the CBD marketplace is based online. Suffice it to say that while Covid-19 has negatively affected much of our regular lives, it has interestingly helped to push CBD into the limelight and onto people’s nightstands.
What Factors Can Affect a CBD Market?
So now that we know a bit more about CBD and how it is received worldwide, let’s consider some of the factors that can affect the success of a CBD market.
-
Investment
The amount of money invested into CBD businesses in each country will partially determine how much the market can grow. If little money is invested into the CBD market, little is likely to progress from it. The key to much of CBD’s market success in leading countries is the amount invested in expanding and developing their market. However, investment can be somewhat of a catch 22 because investors tend only to put money into promising businesses, but businesses need money to be attractive to investors.
-
Regulations
The country’s legislation and regulations also control and sometimes constrict the growth of the CBD market. If CBD is illegal in all forms, then how is the market expected to progress and evolve? The laws surrounding CBD heavily determine how much the market is permitted to grow. While countries that are open to CBD are unlikely to reverse that stance anytime soon, it’s important to stay on top of the regulatory changes or risk falling behind on compliance.
-
Projected Growth
Projected growth is defined as the rate at which something is predicted to grow based on available information. Growth projections are vital components of security analysis that can often lead to a stock’s future worth. Projected growth can give us an indication of the future success of a given CBD market.
Now that we know a bit more about where CBD stands in Europe, how its legality and acceptance depend on each country’s interpretation, and how specific factors can affect a market’s growth, let’s now consider the most promising European CBD markets ranked.
1. Germany
Germany is on course to be one of the most profitable CBD markets outside of North America. This is partly down to its formidable purchasing power as well as its progressive politics. In Germany, support for the legalisation of recreational cannabis has never been higher. Most of the public and those in authoritarian positions support full legislation, at least on a trial run.
The German CBD market has displayed impressive growth over the last few years. But, as the industry is becoming more established, there are fresh issues. The biggest of which is CBD and Novel Food Applications.
What is a Novel Food? CBD for consumption was classed as a Novel Food in Europe in January 2019. According to the European Commission, Novel Food is defined as food not consumed significantly by humans in the EU before 15 May 1997. Therefore, there are significant regulations in place to ensure these foods are safe. A Novel Food Application (NFA) must be submitted for such food products.
Consequently, many producers are waiting to see if their products will be approved and can therefore be marketed. The determination of CBD as a Novel Food in the EU has put the brakes on CBD businesses and stalled growth. But, with Germany’s push for change and significant support for legalising recreational cannabis, this is believed to smooth the way for them significantly. Indeed, in Germany, you can purchase CBD products over-the-counter, and medical CBD can be prescribed by a doctor.
Germany may lead the European Cannabis market in terms of growth. Even though CBD sales are higher in the UK and Austria, Germany is predicted to overtake that spot by 2023. Germany and the UK are very close in their annual spending, with Germany’s budget just a little higher. Germany clips the top spot in our list due to its more progressive politics, general CBD acceptance and projected growth.
2. The UK
The UK also has an extremely promising CBD market. The Covid pandemic benefited the UK CBD market tremendously and saw sales soar through the lockdown. The high demand for CBD and the sustained market growth in the UK indicates that it is by no means a fad. Part of its success is attributed to CBD’s distribution through well-known retailers in the UK, bringing CBD to a vast demographic of people.
In the UK, CBD isolates are entirely legal. There are, however, restrictions for medicinal CBD as well as CBD for pets. Despite this, the CBD sector is predicted to generate £690 million in annual sales by the close of 2021, a considerable increase from the initial estimate.
A report on CBD in the UK concludes that the UK has the most evolved regulatory framework worldwide. On the other hand, it also calls for further government intervention and investment to ensure that the UK optimises their “quiet cannabis revolution”. This government support could help nurture hundreds of new businesses, thousands of jobs, and billions of pounds in exports.
The report also argues that we “urgently need better self-regulation, and a focus on compliance, and good consumer practices, and it requires investment in advancing public understanding, and most importantly, the building of a robust CBD evidence-base.”
One of the main issues for the UK market is local regulations. Due to domestic restrictions on hemp cultivation and its processing in the UK, most profits for CBD are going overseas; UK hemp farmers have to destroy parts of the hemp crop where lucrative CBD is extracted from. However, the UK market should not be underestimated and is a definite powerhouse of a CBD market.
3. Switzerland
Switzerland is also seen as a formidable force in the CBD market. This is primarily due to its more liberal and relaxed approach to the CBD market. Cannabis with up to 1% THC can be sold legally in Switzerland—a much higher limit than in other countries. Furthermore, they have more flexible regulations regarding cultivation than other countries. The cultivation of hemp is permitted in Switzerland, plus the flowers are also widely available (which are banned in both Germany and the UK). This is thought to be due to the ease of production of the flowers and consumer preferences being more traditional.
In 2022, Switzerland is launching a three-year trial period on the sale of cannabis for recreational use, so it will be possible to obtain and consume cannabis legally in a controlled manner. A further reason that Switzerland is a major contender is that it is one of few countries that do not require a license to cultivate hemp.
Therefore, Switzerland is a country to be reckoned with when it comes to CBD due to its more relaxed approach, upcoming trial run, and higher THC limit than other top markets.
4. Austria
Austria has had an interesting relationship with CBD. Austria had 900 years of hemp growing traditions as well as a liberal cannabis market. CBD was legally and freely sold all around the country. However, since the Austrian government implemented the Novel Food Regulation, there was a shift in attitude. This change led to CBD businesses and consumers finding it difficult to adjust to new laws. This Novel Food Regulation banned all CBD cosmetic and food products. Therefore, most CBD products are prohibited there, but the CBD market in Austria is highly unregulated.
However, this change is not as extreme as you might imagine. You can still purchase products with 0.3% THC or less, which are classified as hemp. The main change caused by this regulation is that CBD products can no longer be labelled as food supplements or medication and instead should be described as aroma or raw material products (CBD capsules and edibles are now illegal, however). Many people think that the authorities will change their view once again before too long.
Generally speaking, the extraction and manufacture of CBD are permitted, and hemp can be grown in Austria so long as the variety is on the approved Austrian or European Common Catalogue list of plant varieties.
Austria has long been a leader in the European CBD market, but it has stuttered growth somewhat with new restrictions. However, many people believe the regulations will change once again soon, helping Austria succeed in the CBD market.
Final Thoughts
It is no great secret that the European CBD market is vast. And the countries paving the way for future success are led by Germany and the UK, followed by Switzerland and Austria. Regulations and investment can significantly impact the success of any given CBD market. Time will ultimately tell where the CBD market is heading, but by preliminary analyses, Germany and the UK look to be right at the forefront of its development and progression.
Frequently Asked Questions (FAQs)
What is CBD?
Cannabidiol, more commonly known as CBD, is one of over a hundred chemical compounds found in the Cannabis sativa plant. It is believed to support general well-being and is available in various forms for the user’s convenience.
What is a Novel Food?
Novel Food is food that was not primarily consumed in the EU before May 1997, including consumable CBD. A Novel Food Application (NFA) has to be lodged for such food products. This application ensures the safety of these foods. This does not include non-consumable forms of CBD such as topical balms, which instead should adhere to the appropriate cosmetic regulations.
Where is CBD legal in Europe?
CBD is legal in almost every European country. Throughout the EU, CBD oil and similar products are legal, although some countries have strange laws or regulations which can make the legality of CBD ambiguous. However, CBD is illegal in a few countries in Europe, such as Albania and Iceland.
What is the most promising CBD market in Europe?
The most promising CBD market in Europe is Germany, closely followed by the UK, Switzerland and Austria.
Where is the largest CBD market in the world?
The largest CBD market in the world is in North America.
What impact has Covid had on the CBD industry?
While Covid-19 has negatively affected many of our ordinary lives, it has helped push CBD into the limelight and onto people’s nightstands. Much of our global economy has suffered due to this pandemic, but fortunately for CBD, the opposite is true.
What other countries in Europe have promising markets?
Other European CBD markets that have displayed growth and promise include Poland, Bulgaria, Luxembourg and Holland.
References
Cannabis Sativa – an overview | ScienceDirect Topics
Tetrahydrocannabinol – an overview | ScienceDirect Topics
Cannabinoid pharmacology: the first 66 years (nih.gov)
CBD in Europe: Where is it legal and where is it not? | Talk Business (talk-business.co.uk)
PROJECTED GROWTH RATE | meaning in the Cambridge English Dictionary
German SPD health expert calls on next government to legalise cannabis | News | DW | 13.10.2021
UK Demand For CBD Products Soars Amid Covid-19 Pandemic (forbes.com)
Market Sizing: Demand for CBD Soars During Lockdown As UK Market Now Estimated at £690 Million – The Association for the Cannabinoid Industry (theaci.co.uk)
Report-_-CBD-in-the-UK.pdf (theaci.co.uk)
Zurich to launch recreational cannabis trial – SWI swissinfo.ch
Table of Contents
Ranking Europe’s Most Promising CBD Markets
Summary
What Is CBD?
CBD Forms
CBD Around the World
CBD and Europe
CBD and Covid
What Factors Can Affect A CBD Market?
Germany
The UK
Switzerland
Austria
Final Thoughts
Frequently Asked Questions (FAQs)
What is CBD?
What is a Novel Food?
Where is CBD legal in Europe?
What is the most promising CBD market in Europe?
Where is the largest CBD market in the world?
What impact has Covid had on the CBD industry?
What other countries in Europe have promising markets?
References
Summary
While other industries have buckled under the weight of the COVID-19 pandemic, CBD businesses have enjoyed unprecedented success over the past 2 years. In fact, the market will likely continue over the coming years. As with any growing market, interest in the possible investment opportunities has soared. However, CBD regulations around the world differ vastly, so it’s important to understand the market’s outlook before investing. Here, we discuss the most promising CBD markets in Europe, including a brief analysis of the world CBD market as a whole and the impact the pandemic has had on the CBD industry.
It is no exaggeration to say that CBD is currently in vogue. It has recently established itself as a formidable presence in the wellness sector. Despite this, the CBD market is still thought to be in its infancy, as studies continue to uncover just what a powerhouse it could prove to be in the not-too-distant future. Due to its increasing popularity, the amount of CBD products available on the market across the globe is staggering—with no signs of this expansion slowing any time soon.
CBD is gaining momentum across many corners of the globe, and investors are starting to wonder which markets offer the best financial prospects. This article considers CBD and how interest has piqued worldwide before ranking Europe’s most promising CBD markets.
What Is CBD?
CBD stands for cannabidiol and is one of 113 chemical compounds that originate from the Cannabis sativa plant. Other compounds from this plant include tetrahydrocannabinol (THC) and cannabinol (CBN). CBD is often taken as a natural supplement in various forms because it is believed to possess a myriad of health and wellness benefits.
CBD is sometimes confused with THC, and it is for this reason that stigma and misunderstanding surround it. THC is best known as the primary psychoactive compound from the Cannabis sativa plant. It is important to stress that CBD does not have the same psychotropic capabilities as THC despite deriving from the same plant.
As CBD is finally understood as research expands and the difference between THC and CBD is more understood, CBD’s stigma is being shed across numerous countries worldwide. As a result, many countries have promising CBD markets that are set to explode and expand further in the near future. CBD is not legal everywhere in the world, but it is in most places.
CBD Forms
There are three different forms available of CBD products. Let’s take a brief look at each:
-
Broad-spectrum CBD
This form of CBD does not contain any THC. However, it does include various other components of the Cannabis sativa plant, so it isn’t just CBD like CBD isolate. Broad-spectrum contains other cannabinoids, flavonoids and terpenes, which some believe can offer more advantages than just CBD on its own.
-
Full-spectrum CBD
This CBD form has small amounts of all compounds of the Cannabis sativa plant, meaning it can include trace amounts of THC. A primary benefit of full-spectrum CBD is what’s known as the “entourage effect”. This is when multiple components—such as phytocannabinoids, terpenes and flavonoids—of the plant work together synergistically. They are believed to create more benefits than if each component was taken individually. Full-spectrum is often selected by people who wish to maximise the benefits of the cannabis plant.
-
CBD Isolate
As the name suggests, CBD isolate is pure CBD. There are no other compounds from the cannabis plant contained within. CBD beginners tend to favour isolates before exploring formulations containing some of the other cannabis plant compounds.
CBD Around the World
Before we dive into looking at Europe’s CBD markets, let’s consider how CBD is viewed worldwide. Generally speaking, cannabis is illegal, and CBD is legal in most countries. However, it is not as simple as this. Because CBD derives from the cannabis plant, its relation to marijuana often taints its legality. In a nutshell, this means that not everyone can grow, produce or buy these products. It is almost an impossibility trying to explain the legality of CBD worldwide, as each country has its laws about cannabis that are constantly changing.
CBD and Europe
The CBD market in Europe is vast. In fact, it is the second-largest market after North America, with 31% of the global CBD market share. It is important to note that the CBD industry in Europe is still in its early stages but is already showing huge growth potential. The European CBD market is gradually catching up to the American market. Indeed, until hemp was legalised in the USA, most of the hemp used to manufacture cannabis products in the US was imported from Europe!
It is important to note that EU regulations control CBD sales across Europe, but each country has the right to interpret and enforce these regulations as it sees fit. Therefore, the legality depends on the country. CBD is legal in many European countries such as Austria, Holland, Spain, Italy, Denmark and the UK. CBD is illegal in a few countries in Europe, such as Albania and Iceland.
CBD and Covid
It cannot be ignored that the virus Covid-19 has positively affected CBD demand around the world. While Covid negatively impacted much of the global economy, for CBD, it seemed to have the opposite effect. This is thought to be partly due to uncertain times and people feeling the need to potentially restore their sense of equilibrium.
This is also down to people becoming more aware of CBD and its purported advantages. Add to this that Covid led to people staying in their homes and shopping online, and much of the CBD marketplace is based online. Suffice it to say that while Covid-19 has negatively affected much of our regular lives, it has interestingly helped to push CBD into the limelight and onto people’s nightstands.
What Factors Can Affect a CBD Market?
So now that we know a bit more about CBD and how it is received worldwide, let’s consider some of the factors that can affect the success of a CBD market.
-
Investment
The amount of money invested into CBD businesses in each country will partially determine how much the market can grow. If little money is invested into the CBD market, little is likely to progress from it. The key to much of CBD’s market success in leading countries is the amount invested in expanding and developing their market. However, investment can be somewhat of a catch 22 because investors tend only to put money into promising businesses, but businesses need money to be attractive to investors.
-
Regulations
The country’s legislation and regulations also control and sometimes constrict the growth of the CBD market. If CBD is illegal in all forms, then how is the market expected to progress and evolve? The laws surrounding CBD heavily determine how much the market is permitted to grow. While countries that are open to CBD are unlikely to reverse that stance anytime soon, it’s important to stay on top of the regulatory changes or risk falling behind on compliance.
-
Projected Growth
Projected growth is defined as the rate at which something is predicted to grow based on available information. Growth projections are vital components of security analysis that can often lead to a stock’s future worth. Projected growth can give us an indication of the future success of a given CBD market.
Now that we know a bit more about where CBD stands in Europe, how its legality and acceptance depend on each country’s interpretation, and how specific factors can affect a market’s growth, let’s now consider the most promising European CBD markets ranked.
1. Germany
Germany is on course to be one of the most profitable CBD markets outside of North America. This is partly down to its formidable purchasing power as well as its progressive politics. In Germany, support for the legalisation of recreational cannabis has never been higher. Most of the public and those in authoritarian positions support full legislation, at least on a trial run.
The German CBD market has displayed impressive growth over the last few years. But, as the industry is becoming more established, there are fresh issues. The biggest of which is CBD and Novel Food Applications.
What is a Novel Food? CBD for consumption was classed as a Novel Food in Europe in January 2019. According to the European Commission, Novel Food is defined as food not consumed significantly by humans in the EU before 15 May 1997. Therefore, there are significant regulations in place to ensure these foods are safe. A Novel Food Application (NFA) must be submitted for such food products.
Consequently, many producers are waiting to see if their products will be approved and can therefore be marketed. The determination of CBD as a Novel Food in the EU has put the brakes on CBD businesses and stalled growth. But, with Germany’s push for change and significant support for legalising recreational cannabis, this is believed to smooth the way for them significantly. Indeed, in Germany, you can purchase CBD products over-the-counter, and medical CBD can be prescribed by a doctor.
Germany may lead the European Cannabis market in terms of growth. Even though CBD sales are higher in the UK and Austria, Germany is predicted to overtake that spot by 2023. Germany and the UK are very close in their annual spending, with Germany’s budget just a little higher. Germany clips the top spot in our list due to its more progressive politics, general CBD acceptance and projected growth.
2. The UK
The UK also has an extremely promising CBD market. The Covid pandemic benefited the UK CBD market tremendously and saw sales soar through the lockdown. The high demand for CBD and the sustained market growth in the UK indicates that it is by no means a fad. Part of its success is attributed to CBD’s distribution through well-known retailers in the UK, bringing CBD to a vast demographic of people.
In the UK, CBD isolates are entirely legal. There are, however, restrictions for medicinal CBD as well as CBD for pets. Despite this, the CBD sector is predicted to generate £690 million in annual sales by the close of 2021, a considerable increase from the initial estimate.
A report on CBD in the UK concludes that the UK has the most evolved regulatory framework worldwide. On the other hand, it also calls for further government intervention and investment to ensure that the UK optimises their “quiet cannabis revolution”. This government support could help nurture hundreds of new businesses, thousands of jobs, and billions of pounds in exports.
The report also argues that we “urgently need better self-regulation, and a focus on compliance, and good consumer practices, and it requires investment in advancing public understanding, and most importantly, the building of a robust CBD evidence-base.”
One of the main issues for the UK market is local regulations. Due to domestic restrictions on hemp cultivation and its processing in the UK, most profits for CBD are going overseas; UK hemp farmers have to destroy parts of the hemp crop where lucrative CBD is extracted from. However, the UK market should not be underestimated and is a definite powerhouse of a CBD market.
3. Switzerland
Switzerland is also seen as a formidable force in the CBD market. This is primarily due to its more liberal and relaxed approach to the CBD market. Cannabis with up to 1% THC can be sold legally in Switzerland—a much higher limit than in other countries. Furthermore, they have more flexible regulations regarding cultivation than other countries. The cultivation of hemp is permitted in Switzerland, plus the flowers are also widely available (which are banned in both Germany and the UK). This is thought to be due to the ease of production of the flowers and consumer preferences being more traditional.
In 2022, Switzerland is launching a three-year trial period on the sale of cannabis for recreational use, so it will be possible to obtain and consume cannabis legally in a controlled manner. A further reason that Switzerland is a major contender is that it is one of few countries that do not require a license to cultivate hemp.
Therefore, Switzerland is a country to be reckoned with when it comes to CBD due to its more relaxed approach, upcoming trial run, and higher THC limit than other top markets.
4. Austria
Austria has had an interesting relationship with CBD. Austria had 900 years of hemp growing traditions as well as a liberal cannabis market. CBD was legally and freely sold all around the country. However, since the Austrian government implemented the Novel Food Regulation, there was a shift in attitude. This change led to CBD businesses and consumers finding it difficult to adjust to new laws. This Novel Food Regulation banned all CBD cosmetic and food products. Therefore, most CBD products are prohibited there, but the CBD market in Austria is highly unregulated.
However, this change is not as extreme as you might imagine. You can still purchase products with 0.3% THC or less, which are classified as hemp. The main change caused by this regulation is that CBD products can no longer be labelled as food supplements or medication and instead should be described as aroma or raw material products (CBD capsules and edibles are now illegal, however). Many people think that the authorities will change their view once again before too long.
Generally speaking, the extraction and manufacture of CBD are permitted, and hemp can be grown in Austria so long as the variety is on the approved Austrian or European Common Catalogue list of plant varieties.
Austria has long been a leader in the European CBD market, but it has stuttered growth somewhat with new restrictions. However, many people believe the regulations will change once again soon, helping Austria succeed in the CBD market.
Final Thoughts
It is no great secret that the European CBD market is vast. And the countries paving the way for future success are led by Germany and the UK, followed by Switzerland and Austria. Regulations and investment can significantly impact the success of any given CBD market. Time will ultimately tell where the CBD market is heading, but by preliminary analyses, Germany and the UK look to be right at the forefront of its development and progression.
Frequently Asked Questions (FAQs)
What is CBD?
Cannabidiol, more commonly known as CBD, is one of over a hundred chemical compounds found in the Cannabis sativa plant. It is believed to support general well-being and is available in various forms for the user’s convenience.
What is a Novel Food?
Novel Food is food that was not primarily consumed in the EU before May 1997, including consumable CBD. A Novel Food Application (NFA) has to be lodged for such food products. This application ensures the safety of these foods. This does not include non-consumable forms of CBD such as topical balms, which instead should adhere to the appropriate cosmetic regulations.
Where is CBD legal in Europe?
CBD is legal in almost every European country. Throughout the EU, CBD oil and similar products are legal, although some countries have strange laws or regulations which can make the legality of CBD ambiguous. However, CBD is illegal in a few countries in Europe, such as Albania and Iceland.
What is the most promising CBD market in Europe?
The most promising CBD market in Europe is Germany, closely followed by the UK, Switzerland and Austria.
Where is the largest CBD market in the world?
The largest CBD market in the world is in North America.
What impact has Covid had on the CBD industry?
While Covid-19 has negatively affected many of our ordinary lives, it has helped push CBD into the limelight and onto people’s nightstands. Much of our global economy has suffered due to this pandemic, but fortunately for CBD, the opposite is true.
What other countries in Europe have promising markets?
Other European CBD markets that have displayed growth and promise include Poland, Bulgaria, Luxembourg and Holland.
References
Cannabis Sativa – an overview | ScienceDirect Topics
Tetrahydrocannabinol – an overview | ScienceDirect Topics
Cannabinoid pharmacology: the first 66 years (nih.gov)
CBD in Europe: Where is it legal and where is it not? | Talk Business (talk-business.co.uk)
PROJECTED GROWTH RATE | meaning in the Cambridge English Dictionary
German SPD health expert calls on next government to legalise cannabis | News | DW | 13.10.2021
UK Demand For CBD Products Soars Amid Covid-19 Pandemic (forbes.com)
Market Sizing: Demand for CBD Soars During Lockdown As UK Market Now Estimated at £690 Million – The Association for the Cannabinoid Industry (theaci.co.uk)
Report-_-CBD-in-the-UK.pdf (theaci.co.uk)
Zurich to launch recreational cannabis trial – SWI swissinfo.ch
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