Cannabidiol (CBD) is now witnessing a drastic growth in the European market. And many experts do believe that this fast pacing growth happens to be just the beginning as CBD sales will continually be on the increase.
CBD products in recent years have exponentially gained much attention ranging from people with medical issues to its recreational consumers as well as onlookers who have probably had some acquaintance with the commodity or those who have not at all. The CBD market is now a noticeable trend in Europe and is being on the rise. The big question is, to what extent will the CBD market grow in the years to come?
The Growth Of Cbd Market In Europe
Also, since cannabidiol is one of the significant cannabinoids extracted from marijuana or the hemp found primarily in the cannabis Sativa plant, its use is now legalized in many countries across Europe and globally. Now, it has been adopted and applied for further use, other than for medical purposes. It includes cosmetics and personal care, pharmaceuticals, and even food and beverages. It is edible and safe for consumption in the prescribed quantity.
CBD products have undoubtedly become one of the latest consumer trends. Its market is fast-growing, also, because of the increasing number of influencers on social media that promote the immense benefits of cannabis, its growing application areas, as well as the marketing initiatives employed by the participants of the industry. Hence, CBD products that include haircare, skincare, intimate lubricants, gummies, infused beverages, cosmetics, pharmaceuticals, pills, and other related products are rapidly increasing in sales. This, in turn, further drives the market for cannabidiol (CBD).
Its growth in Europe has become overwhelming as the increasing awareness of its therapeutic benefits has made people buy CBD based products regardless of their cost (high, moderate, or low). Thus, businesses and retailers focus on engaging in the sales of CBD-based products because they yield a higher profit margin.
The information surrounding CBD has expanded and become more prominent, too. Various individuals are having anecdotal evidence on how it has helped change their lives. And more so, scientific studies on CBD is on the rise to accentuate the facts on this CBD topic as well. Many people are fast becoming intrigued by CBD products and trying as much as possible to get their hands on them to aid their particular individual problems. This has led to several companies engaging in the production of CBD-related products.
As it stands, CBD products generally have become legal in most EU member states for medical and recreational use. While its estimate may vary, the CBD market in Europe is now worth around €450 million. Experts in the industry have noted that it is expected to grow by 400% over the next three years!
THE FUTURE OF TOP SELLING CBD PRODUCTS IN EUROPE
In a fragile economic world, several industries with an eye for massive growth forecasts are bound to note the exponential growth of CBD. And so will sharp-witted investors. After all, they all seek the right place to be in. Reports have pointed out the massive increase of CBD products in Europe from last year estimated a market of about $202 million. It has been estimated to grow to $2.1 billion by the end of 2020. And in subsequent years, it is bound to multiply. Some CBD related brands will move further and have their products marketed on their national TV commercial to boost its sales in the coming years further.
Further reports have given clues that the entire cannabis industry is expected to strike $57 billion when 2027 comes, with its recreational use making up to 67% and its medical use housing the remaining 33%. As a result of this, several companies are now positioning themselves to take due advantage of this overwhelming growth in Europe’s CBD market.
As it stands, CBD is currently seeing a drastic monumental demand in Europe. In Europe alone, the CBD market is bound to grow over 400%, as said earlier. This is because, based on the CBD consumer report as regards last year’s (2019) overview, a whopping 46% of Europeans view CBD favorably, and a whopping 77% believe and agree that CBD should in some way be quite accessible.
Hence, CBD products that include CBD oils, CBD cosmetics, CBD e-liquid, CBD for pets, CBD edibles, and the rest are becoming high in demand, with various companies engaging in massive production of these products. For some businesses, White Label CBD is an excellent option for owning their unique CBD brand and still retaining quality products from high quality producing companies. Other companies engage in the CBD wholesales, standing to be CBD suppliers and subsequently sell CBD in bulk. That’s pretty much because the future of CBD based products seems to be a favorable one indeed.
As noted in the content above, many experts in the CBD market industry believe that CBD will exponentially rise in years to come in Europe. The ultimate reason is as a result of the potential benefits it brings to its users. While awaiting further expert information regarding CBD products, many companies, businesses, and consumers seek to acquire CBD products in wholesales and bulk or engage in its massive production to be on the winning side. Hence, your business must get in touch with a reliable CBD dealer who is potent and honest about its quality.
One of such reputable companies is Simply Green. Simply Green is a quality and renowned manufacturer, wholesaler, and distributor of all cannabis-related products. They are fundamentally dedicated to giving the very best all-round CBD products to customers. For more information to boost your cannabis business, kindly visit https://simplygreentrade.com/ and acquire your quality CBD products.