European CBD Market Waits in the Balance Pending Decision Between Narcotics and Novel Food
August 10, 2020As Social Disruptions Roil an Election Year, Policymakers Consider Cannabis and Racial Inequality
August 16, 2020European CBD Market Waits in the Balance Pending Decision Between Narcotics and Novel Food
August 10, 2020As Social Disruptions Roil an Election Year, Policymakers Consider Cannabis and Racial Inequality
August 16, 2020
- A New Frontier Data consumer survey found that 56% of Europeans surveyed have heard of CBD, compared to 86% of U.S. respondents.
- 16% of Europeans report having used CBD.
- More than 1/3 (35%) of EU CBD consumers reported their primary source being a personal connection.
- Among the most popular reasons for using CBD (including more than one): Pain management (40%), relaxation (34%), stress relief (31%), and anxiety reduction (26%).
- In 2020, the estimated annual spending on CBD in the EU is €8.3 billion (USD$9.75 billion), projecting to reach €13.6 billion (USD$15.98 billion) by 2025 (a 10.4% CAGR).
