The interest in cannabidiol in Spain
Interest in cannabidiol, better known as CBD, has experienced significant growth in Spain in recent years. The therapeutic and health benefits of CBD, a non-psychoactive component present in both cannabis and hemp plants, have generated great excitement in society.
Currently, CBD products, especially CBD oil, have gained popularity among consumers and are present in various sectors such as cosmetics, food and textiles. More and more stores, mainly online, offer products containing cannabidiol, which can be verified in the MiisterCBD/es/ guide, a website that provides references to online stores specialized in products made from CBD.
The growth of the CBD market in Europe
According to the European CBD – April 2020 Report published by Brightfield Group, a consulting firm specialized in the CBD sector, CBD sales in Europe reached €342 million in 2019, representing a growth of 26% compared to the previous year. last year. Germany and the United Kingdom lead the European CBD market, closely followed by Switzerland and Austria. Spain is behind these four countries, with a total of 21 million euros in CBD sales in 2019.
The American consulting firm highlights that Spain is a key growth engine in the European CBD market, because it is improving regulations that guarantee product quality, which increases consumer confidence.
The growth potential of the Spanish CBD market
The Spanish Observatory of Medicinal Cannabis (OECM) estimates that approximately 300,000 people in Spain consume cannabis for medicinal or therapeutic purposes, while 4 million consume it for recreational purposes. This indicates that the Spanish CBD market has great growth potential, especially as it becomes more popular and a defined legal framework is established.
A study carried out by the American consulting firm Prohibition Partners indicates that the medical cannabis business in Spain could reach 3,000 million euros in 2028. This shows that the CBD industry has a promising future in the country.
The cultivation of industrial hemp in Spain
Although CBD can currently only be used as a cosmetic or industrial product in Spain and cannot be marketed for human consumption, some CBD products are increasingly gaining acceptance in the market. Experts predict that the CBD industry will be one of the most profitable in the coming years.
As a result, the area dedicated to the cultivation of industrial hemp has multiplied by eight in the last five years, going from 61 hectares in 2016 to 510 hectares in 2020, according to data from the Spanish Agrarian Guarantee Fund (FEGA). This demonstrates the growing interest and demand in the industrial hemp sector in Spain.
The example of the countries of America
In 2013, Uruguay became the first country in the world to fully legalize cannabis. Since then, several countries in the Americas, such as Colombia, Ecuador, Argentina, Chile, Mexico, Puerto Rico, Peru, the United States, Canada and Jamaica, have legalized medicinal cannabis. These legalization processes have had a positive economic impact on the countries of America, generating significant income for their economies.
For example, the Department of the Treasury of Puerto Rico points out that the medical cannabis industry can generate up to 100 million dollars annually, as reflected in a study on the economic analysis of the medical cannabis industry in America. These figures contrast with the 21 million euros generated by the industry in Spain in 2019.
