Prospects of CBD Business Development Across Europe in 2021

As of today, the CBD industry is one of the fastest developing markets in the world. Products with CBD content are gaining in popularity and being used almost everywhere, for example, in food and beverages, oils, skincare products, and medications.

The Green Light

Until recently, CBD was controversial because of the compound’s source. Cannabinoid is derived from the hemp plant but does not cause any psychoactive effects that change a person’s state of mind. The Court of Justice of the European Union has considered this issue and ruled that CBD is not a narcotic drug, which represents a major breakthrough for European players whose businesses sell CBD products. As a result, EU member states are now expected to amend their CBD regulations to make them legitimate.

Trends for 2021 and Beyond

It is no surprise that the demand for CBD will keep growing in the coming years. We are all experiencing high levels of stress, especially amid the COVID-19 pandemic, and an explosion in anxiety disorders is rightly expected. Europe has been just as affected as the rest of the world, and this will surely bring CBD products to the foreground — Marry Jane will be happy to meet the demand.

New products are likely to enter the CBD market as businesses expand their product lines in the year ahead. This trend is because CBD can be added to other popular products, such as soft gummies, ointments, chewing gum, etc.

The community of CBD users and supporters is poised to grow soon. This is thanks to the positive experiences of using CBD-infused products and the growing support from celebrities and social media influencers. There is no doubt that CBD businesses will perform strongly in the near future. Furthermore, according to some forecasts, the global CBD industry will surpass USD 20 billion by 2024.

Text was prepared in cooperation with MarryJane Swiss Cannabis Store. At Marry Jane, we offer our customers CBD-infused cosmetics, oils and tinctures, various extracts, as well as pods and liquids for vaping.

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