Europe has vast potential in the CBD sector, but there’s an urgent need for legislative and regulatory reform that will unlock the market to serve the health and well-being of EU citizens.
Those are the key findings in “The European CBD Market 2019-2020,” a research report from the European Industrial Hemp Association (EIHA) due out March 9.
Some 84 companies from 24 European countries responded to the survey, led by Germany (16), The Netherlands (9), United Kingdom (9); and Lithuania (8).
First of its kind
“This first-of-its-kind report from EIHA on European CBD is an essential guide to the market, but it’s also a key tool we will use in our efforts to help officials at the EU level as they work to set a clear playing field for the sector,” said Lorenza Romanese, Managing Director of the Association.
The research is free to EIHA members, and is available to non-members for the discounted price of $399 if pre-ordered before March 9. After that date, the price of the report rises to $499 for non-EIHA members.
“The report is in recognition of the rising market relevance and public awareness of cannabidiol (CBD), and intends to highlight and address the economic potential of CBD as well as current challenges to the sector in Europe,” according to the report’s introduction.
Spotlighting key issues
Placing Europe in a global context, the report spotlights European market trends and provides analysis on all key issues and challenges facing European CBD stakeholders.
Analysis in the report covers such issues as allowable THC levels allowed in European hemp, CBD in health and beauty products, market indicators, key trends and developments, the effect of foreign competition and transparency issues.
Need for transparency
Stakeholders responded to questions about economics and income, sourcing, purchasing and sales along with operator perceptions of the market, business forecasts and interpretations of consumer attitudes impacting the industry. The report also addresses a core mission of the EIHA: To bring increasing transparency to the rapidly evolving industrial hemp sectors.
The analysis aims to provide insight into the inner workings of the European CBD sector, and is intended to serve as an analytical and business planning tool for operators while giving potential investors an advanced overview of the European CBD market, EIHA said.