Press Release

Diversified Application of Cannabidiol (CBD) Products to Boost the European Market

Europe Cannabidiol (CBD) Market is projected to grow at a CAGR of around 24.57% in the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. This is due to the widening application of cannabis in a large number of industries, such as cosmetics, medical, and sports, coupled with the rising awareness of consumers about the health benefits of CBD products & their increasing inclination to its consumption. The general population of the region has started consuming cannabidiol in a variety of forms like CBD-infused oils, chocolates, coffees, face masks, cakes, and even drinks, supporting the market growth in the forthcoming years.

Moreover, the increasing relaxation by different countries in the provisions related to the use of products, including the usage of cannabis, is providing support to the CBD industry in the region. Many countries, such as Germany & Italy, have been gradually easing the norms related to cannabidiol. For instance:

• In 2021, Indena, a leading company dedicated to the identification, development, and production of high-quality active principles from plants, was given the authorization by the Italian Ministry of Health and Italian Medicines Agency (AIFA) to produce CBD-based cannabis extracts to create medical-grade CBD for the global market for clinical & commercial use.

Consequently, this has increased the demand for CBD-based products in Europe, leading to the expansion of cannabis production facilities. Therefore, the rising demand for CBD-based products in the region is expected to lead to the development of more authorized cannabis production capabilities in the near future, reveals MarkNtel Advisors in their research report, “Europe Cannabidiol (CBD) Market Analysis, 2023."

Europe Cannabidiol (CBD) Market is projected to grow at a CAGR of around 24.57% in the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. This is due to the widening application of cannabis in a large number of industries, such as cosmetics, medical, and sports, coupled with the rising awareness of consumers about the health benefits of CBD products & their increasing inclination to its consumption. The general population of the region has started consuming cannabidiol in a variety of forms like CBD-infused oils, chocolates, coffees, face masks, cakes, and even drinks, supporting the market growth in the forthcoming years.

Moreover, the increasing relaxation by different countries in the provisions related to the use of products, including the usage of cannabis, is providing support to the CBD industry in the region. Many countries, such as Germany & Italy, have been gradually easing the norms related to cannabidiol. For instance:

• In 2021, Indena, a leading company dedicated to the identification, development, and production of high-quality active principles from plants, was given the authorization by the Italian Ministry of Health and Italian Medicines Agency (AIFA) to produce CBD-based cannabis extracts to create medical-grade CBD for the global market for clinical & commercial use.

Consequently, this has increased the demand for CBD-based products in Europe, leading to the expansion of cannabis production facilities. Therefore, the rising demand for CBD-based products in the region is expected to lead to the development of more authorized cannabis production capabilities in the near future, reveals MarkNtel Advisors in their research report, “Europe Cannabidiol (CBD) Market Analysis, 2023."