In France, CBD is experiencing exponential growth
In 2023, France has already established itself as the leading European producer of hemp, with 18,000 hectares cultivated (an area multiplied by 4.5 in just three years). On a global scale, France ranks third, behind China and Canada.
Profitability is also there, since the yield per hectare of hemp is around 2,500 euros, or eight times more than that of wheat!
This dynamic has a significant impact on the employment market. In 2023, there were nearly 1,500 hemp producers in France, employing 300 employees in hemp farms, compared to 1,278 producers a year earlier.
The online CBD market naturally follows the trend, and now accounts for nearly 40% of CBD sales in France. Consumers favor this method of purchasing for its ease of access, its discretion, the variety of products available and the prices, often lower than in stores despite delivery.
How is the CBD market performing in Europe?
On the Old Continent, a report from ResearchAndMarkets forecasts average annual growth of nearly 19% for CBD in line by 2027, for a valuation of 13.55 billion euros in the long term.
At the same time, the CBD market for pets is also riding a positive wave. According to Brightfield Group, its value in 2023 was estimated at 125 million euros. In this segment, a study signed Prohibition Partners estimates a value of 1.7 billion euros in 2025 and 7.8 billion euros in 2027.
Medical cannabis: a booming market
According to Prohibition Partners, the European medical cannabis market is expected to reach 3.2 billion euros by 2025. This growth is mainly explained by the relaxation of regulations in Germany, Italy and the United Kingdom.
Growing demand for products such as hemp oils, tinctures and prescription medications suggests significant opportunities for pharmacies and laboratories.
