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CBD: what are the industry trends in 2024?

The global CBD market is expected to exceed $13 billion by 2024, with a record annual growth rate of 21%, according to a study by Grand View Research.

This growth reflects, firstly, greater acceptance of non-psychotropic cannabis products, and secondly, the emergence of a first generation of hardcore consumers who have made CBD one of the vectors of their daily well-being.

In this article, the 321CBD team looks back at the key trends for the CBD industry in 2024.

The last few months have been marked by significant changes in French legislation on CBD and cannabis products. Indeed, the legislator has updated the list of prohibited products to add 12 chemical families and 10 new substances belonging to the group of synthetic cannabinoids.

Objective : to allow consumers to clearly distinguish beneficial and legal cannabinoids, such as CBD, CBN, CBC or even CBG, from psychotropic cannabinoids which present a risk of abuse and 'addiction.

For its part, the legislation on CBD has evolved towards a more flexible approach. The new regulations allow for broader marketing of CBD products, including raw CBD flowers and leaves intended for vaporization or infusion. Remember that these products were threatened with ban by a ministerial decree dating from the end of 2022.

Also note that France aims to harmonize its regulations with those of other countries to ensure better safety, traceability and legality of CBD-based products.

The CBD market is gaining diversity

In addition to historical CBD products, such as flowers, oils and concentrates, consumers can count on a wide range of more fun and practical products:

  • CBD drinks : infusions, coffees and energy drinks infused with CBD;
  • CBD foods : chocolates, candies and baked goods;
  • CBD cosmetics : skin care products enriched with CBD, such as creams, balms and serums;
  • CBD Textiles: clothing and accessories infused with CBD, with supposed soothing and anti-inflammatory properties;
  • CBD Pet Products : Pet foods and supplements that use CBD to reduce anxiety and pain.

CBD: public awareness

In 2024, efforts toraise public awareness of the virtues of CBDand alert them to the dangers of recreational cannabis and synthetic “new molecules” have intensified.

On February 15, 2024, Atlanpole Biotherapies hosted a webinar to discuss recent innovations and regulations relating to medical cannabis.

From March 23 to 25, 2024, Paris organized the CBD trade show, an event that brings together amateurs, experts and the curious who wish to explore hemp pleasures and learn about the latest industry trends.

Moroccan hemp, soon in European CBD products?

In 2023, Morocco, one of the largest producers of cannabis worldwide, finally authorized the legal exploitation of hemp, in particular to produce CBD and other non-psychotropic cannabinoids.

Two years later, the Moroccan government issued 2,342 authorizations for cannabis cultivation to local farmers, marking a major turning point in the country's agricultural policy.

At the beginning of 2024, Morocco began the legal cultivation of the Beldya cannabis variety, spread over 732 hectares in the regions of Taounate, Chefchaouen and Al Hoceima. This initiative opens the door to the export of Moroccan raw material, renowned for its quality, to producers and distributors of legal CBD in Europe and North America, in particular.

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Publié par : Reda
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