European Cannabis Products Have Been More Popular Than Expected
Cannabidiol oil.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The pot growth story has mostly focused on developments in Canada and the U.S., but one broker says medical cannabis and wellness products are proving a bigger money spinner than it had expected in Europe.
According to Canaccord Genuity Inc., cannabis-derived cannabidiol, better known as CBD, has become a “trending ingredient” in a range of consumer goods and is now highly visible in pharmacies and health stores. It estimates the CBD product market in Europe was worth 750 million euros ($857 million) to 1 billion euros in 2018, potentially five times the 200 million-euro estimate it made in August.