European CBD Market Waits in the Balance Pending Decision Between Narcotics and Novel Food
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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).
