Markets for sales of CBD products in selected European countries
Consumption volumes primarily depend on the development of the regulatory framework governing the legality of the use of therapeutically active elements for industrial purposes and, naturally, on the country's economic potential.
Over the past few years, the therapeutic properties of drug-free cannabinoids, and primarily cannabidiol, have been of great interest to representatives of the food industry, as well as companies specializing in the manufacture of various kinds of sports nutrition, cosmetics, or food, dietary, dietary supplements. Using the attention of consumers to these types of goods, a huge number of products appeared on store shelves in Europe and North America, containing various therapeutically active components of hemp.
Despite the fact that experts note a huge lack of information on how exactly the therapeutically active elements of the hemp plant affect the human body, we can talk about the emerging huge market for products, the recipes for the manufacture of which involve the use of therapeutically active elements of the plant, which in economically developed countries are universally sold without any restrictions, i.e. the use of therapeutically active elements of the hemp plant for industrial purposes.
To the credit of the analysts of the European market, its specialists are constantly researching the dynamics of the development of this sector of modern cannabis farming in order to identify trends occurring in it, as well as to be able to predict. That is why it will be extremely interesting to know how consumers in hotel countries of Europe in 2020 spent their resources on purchasing food products, various additives, primarily rich in cannabidiol, which are sold to end consumers without any restrictions.
Costs of purchasing CBD products in Europe
Commentary of the specialists of the Association "Ukrainian technical hemp"
As can be seen from the diagram, the volumes of consumption primarily depend on the development of the regulatory framework governing the legality of the use of therapeutically active elements for industrial purposes and, naturally, on the economic potential of the country. At the moment, there are three main groups of states in terms of the annual use of products rich in non-drug cannabinoids.
Emerging markets for CBD products include Sweden - € 180 million; Denmark - € 180 million; France € 410 million; Spain and Portugal - € 510 million - countries in which sales volumes fluctuate within or below the € 500 million mark.
Countries in which the CBD industry already has an annual turnover of € 500 million to € 1 billion (Italy € 790 million; Czech Republic and Austria - € 840 million; Benelux countries (Belgium, Luxembourg, Netherlands) - € 860 million;), as well as states in which this market is not only actively developing, but also breaking the € 1.5 billion mark is actively striving to reach a volume of € 2 billion (Ireland and the UK - € 1.7 billion .; Germany - € 1.83 billion).
During the round table “ Problems and prospects of using therapeutically active elements of hemp as a basis for nutraceuticals, medicinal cosmetics, animal feed or other products with healing properties of a plant ” held for the listeners of the 6th stream of “ Hemp University ”, attention will be focused on the need to implement the concept previously proposed by the Association "Ukrainian technical hemp" regarding the feasibility of improving the current regulatory framework in order to regulate the possibility of using therapeutically active elements of hemp for industrial purposes. cannabis of a therapeutic orientation (having a huge therapeutic effect). Regulation of this issue at the level of a departmental regulatory legal document will allow not only in Ukraine to to use everywhere the products with enormous therapeutic potential, but also to legally grow plants for the citizens of our country in need of it.
In connection with the outbreak of COVID 19 and the quarantine announced in connection with this in Kiev, training will be conducted using a secure and fully virtualized Cisco WebEx Meetings web conferencing solution. A link will be sent to the registered listeners by e-mail to participate in the event remotely.