What is CBD?
Before talking about the massive success of CBD, let's see what it is. Rest assured, CBD is not cannabis, it is not a narcotic. But if it's not cannabis or drugs, what is?
CBD is a molecule extracted from hemp, also known as cannabis sativa. However, unlike THC, the second molecule present in plants, CBD has no narcotic effect and does not cause addiction. the CBD, notably sold in the form of oil in France, has a THC content of 0,3%, so it comes from certain types of cannabis, which it is allowed to cultivate.
2000 Shops in France
What will the CBD market look like everywhere in France in 2022? It is experiencing rapid growth. The first store opened in 2018. Since then, it has grown across France, from 400 stores at the end of 2020 to more than 2 today, according to the Professional Hemp Syndicate (SPC).
In addition, France is now the leading European producer of hemp, according to the European Industrial Hemp Association (EIHA). Globally, it ranked third in 2021, behind China and Canada. France also has around 1 hemp producers on 300 hectares.
A market worth 1,5 billion euros
So what is the future of CBD everywhere in France? If the business is booming, it's because the French want it: it attracts more than 6 million people in France, or nearly 10% of the population.
As a wellness product or to nourish the skin, CBD can be taken in many forms: oils, gummies, balms, flowers or dietary supplements. 70% of CBD consumers in France are men. The SPC estimates the size of the French CBD market at 1,5 billion euros.
“The market […] in 2021 generated 300 to 400 million euros in turnover. If we had clear regulations, tobacco could sell it, it is estimated that the sector could represent 1 billion euros in turnover, ”explains Aurélien Delecroix, president of the Professional Union of Hemp, to West France.