1.1 Definition and scope of the study
CBD is the common name for cannabidiol, a molecule found in hemp or Cannabis sativa, but also in other varieties of cannabis, which are higher in THC. Hemp is distinguished by the level of THC it contains. The hemp plant cannot contain more than 0.2% in Europe and in France and is therefore the only one authorized for CBD production in Europe.
To manufacture CBD products, the molecule must first be extracted from the plant. Various products can then be designed like CBD oil, e-liquids, drinks, etc. Flowers and resins can also be sold. Among the most popular products are also cosmetics and food products.
The global market is growing at an extremely high CAGR of 22.2% from 2019 to 2025. This growth is driven by the evolution of regulations, increasingly favorable to CBD. The therapeutic segment with the development of CBD medicine also appears to be a major opportunity for the sector.
In France, the development of the sector isn't as easy, due to the vagueness of regulations. Producers and sellers risk having their merchandise seized and stores closed if they do not respect the French regulation of no THC in the finished product and no cultivation of CBD flowers and leaves, even though the European Union allowed it.
However, the European Court of Justice ruled in November 2020 that the ban on CBD, which is stricter in France than in other European countries, was not in line with European law and this decision should set the precedent in future trials.
We should therefore see a real development of French production, especially since France is already the first European producer of industrial hemp.
The majority of sales are currently made online, with important traffic on foreign sites (Italian and Swiss in particular). The physical points of sale are developing in the big cities.
1.2 The global CBD market is growing rapidly
The global market
The global CBD market is expected to grow exponentially in the coming years at a CAGR of **% between **** and ****. It is expected to grow from a value of $*.** billion in **** to $**.** billion in **** as illustrated in the graph below.
Global CBD Market World, ****-****, USD billion Source: ****
1.3 The CBD market in France and in Europe
In France, the CBD market is highly regulated and only the sale of CBD derived from hemp is allowed. In addition, smoking products (***) were prohibited and the sale of CBD could only be in the form of e-liquids, drinks or food before the ruling of the Court of Justice of the ...
1.4 Interview with Aurélien Delecroix, founder of The Green Leaf Company.
Marine: Welcome to the Niche, the podcast that analyzes niche markets with the entrepreneurs who are moving the lines. I'm Marine and I work at Businesscoot, the startup that dusts off market research. Subscribe to our podcast on Spotify and Apple Podcast. And now, let's get to the niche of the ...
2.1 The profile of CBD users
According to a **** study by e-liquid-cbd.info, out of *** people, **% of CBD users are male.
Distribution of CBD consumers, by gender France, ****, as a percentage of respondents Source: ****
In addition, we note that the consumption of CBD is mostly carried out by young populations, more informed about these new products. Thus, ...
2.2 Consumption habits
The main mode of consumption of CBD in France appears to be the e-liquid of electronic cigarettes that **% of consumers ingest. CBD could therefore benefit from the development of the electronic cigarette market.
Main modes of consumption of CBD France, ****, in percentage Source: ****
In the main reasons that lead to the ...
2.3 CBD could benefit from the French attraction to cannabis
CBD use appears to be linked to cannabis use, either as a complement or a replacement. Indeed, **% of CBD users used to consume cannabis regularly or occasionally but have stopped. **% are still using it, either occasionally or regularly. **% of CBD users therefore use or have used cannabis at least occasionally.
2.4 The growing popularity of CBD
CBD is becoming more and more popular as legislation becomes clearer about it.
The graph below represents the proportion of searches for a given keyword in a specific region and for a specific time period, compared to when the rate of use of that keyword was highest (***). Thus, a value of ...
3.1 The CBD value chain
The first step in the production of CBD is the cultivation of hemp, for which France ranks first in Europe. Then, the CBD must be transformed into the final product (***). For oils and capsules, CBD must be extracted from the plant. CBD can also be incorporated into foods and beverages. However, ...
3.2 CBD producers
The production of CBD in France is complex because the legislation is still unclear. Thus, it is possible to cultivate hemp plants if they have a THC level lower than *,*% and to sell finished products which contain THC, however it is prohibited to use their flowers. However, it is ...
3.3 The sites of sale of CBD
The sites of sale of CBD show a particularly important growth these last years. We will analyze here the traffic of the main websites used by the French.
In terms of traffic in ****, CBD sites appear to be dominated by weedy.fr, justbob.fr, and la ferme du cbd.
Organic traffic ...
3.4 Physical outlets by city
Numerous physical points of sale are flourishing in France and this democratization should be accentuated by the decision of the European Court of Justice.
There are more than *** stores in Paris out of the *** stores in France. The main ones are Le Lab Paris, Green House CBD shop Paris, and Le ...
3.5 In a booming market, store openings and takeovers are multiplying
The main CBD brands (***)
Please note that the presence in terms of sales can be very different from the physical presence of brands. These brands can have a strong online presence and are aimed at young consumers who are used to shopping online.
Creation of dedicated brands and resale
4.1 The different products available for sale
CBD can be the source of many derivative products whose consumption is more or less tolerated in France.
CBD oils: thanks to an eyedropper, the oil is consumed directly by placing it under the tongue or on a sugar. There are several levels of concentration in CBD that vary between *% and ...
4.2 Prices of the different products
Naturally, the higher the concentration of CBD, the higher the prices. The most expensive products are the oils to ingest. The products that require the least processing such as flowers are the ones that cost the least. Other quality criteria, such as organic cultivation, can also lead to higher ...
5.1 The regulatory framework for the sale of CBD
Regulation of hemp cultivation:
According to the order of August **, **** implementing Article R. ****-** of the Public Health Code for cannabis, the following provisions apply. [***]
Are authorized the cultivation, import, export and industrial and commercial use (***) of varieties of Cannabis sativa L. meeting the following criteria:
THC content lower than *.*%; The ...
5.2 Marketing constraints
MILDECA reminds that products containing CBD remain subject to French legislation on the following points:
The products cannot claim therapeutic virtues unless they are authorized as medicines by the national agency for the safety of medicines and health products or the European Commission; Advertisements for these products must not confuse cannabis ...
- Fresh Label (Sarl Maj JAG)
- Elya (Sarl Mag Jag)
- Le Lab Paris
- Green House CBD Shop
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