Naturally present in hemp, cannabidiol (CBD) has no psychotropic effect and does not lead to dependency, unlike tetrohydrocannabidiol (THC). It is used in a variety of products including food supplements, foods, beverages, and cosmetics, and appeals to consumers who are increasingly concerned about their health and looking for natural solutions to support their well-being.
The properties attributed to this ingredient also enthuse the many scientists who are studying its benefits. The CBD market represents a great economic opportunity in many countries.
In fact, it is expected that the CBD market will experience significant growth in the coming years. Grand View Research estimated the global CBD market was estimated to be worth US$2.8 billion in 2020 and is expected to reach $13.4 billion by 2028. Europe accounts for about 12% of this market. While the exact sales figures may vary among market research firms, the one thing in common is the expected meteoric growth. Sales of hemp-based dietary supplements are expected to increase by 36% between 2017 and 2025. The market potential is estimated at €700 million of finished products.
Over the next decade, CBD is expected to drive innovation in food, beverages, supplements, as well as beauty and medicine. A report from Nutrition Business Journal cites the main benefits consumers are seeking as reducing anxiety (44%), relieving pain (36%), improving sleep quality (29%), or promoting general well-being (25%).
The use of CBD also aligns with environmental and societal trends. It has a positive image among consumers looking for naturalness. Nutraceuticals and cosmetic trends fit perfectly into the ultra-phyto world of this ingredient. Moreover, the craze for "wellness" promises represents a real opportunity. Some of these promises having been amplified by the health crisis, notably stress and sleep.
Building a sustainable CBD industry
Following the changes in European regulations, businesses offering CBD-based products are booming, and the craze for this molecule is not ready to slow down. Stores are stocked with oils, herbal teas, food supplements, cosmetics, vape liquid, and much more. These products are accessible but are not always guaranteed to deliver high quality.
Faced with this, it is time for the broader CBD industry to be responsible and reassuring. Defining a clear and precise legal framework is essential to offer safe and quality products to consumers.
This is one of the main roles of UIVEC (Union des Industriels pour la Valorisation des Extraits de Chanvre) which represents the actors of the whole value chain of the sector (producers, processors, distributors, laboratories, brands). Its mission includes defending and supervising the hemp extract market and helping the sector to develop.
To support the development of the CBD market, the industry's players must work on various key points. In particular:
- Quality and traceability: two crucial factors to guarantee consumer safety
- Education: boosting positive communication with stakeholders and avoiding confusion with THC.
- Science: proof of effectiveness, a criterion increasingly sought after by consumers
The group will be able to draw on its numerous internal and external resources and know-how to offer ever more innovative, safe, and effective extracts while guaranteeing a high level of traceability.
Helping customers to navigate a constantly changing regulatory and consumer environment and guaranteeing consumer safety are among the priorities of Robertet, which is a founding member of UIVEC. The company also drew up a ‘Hemp Extracts Charter,’ listing all the efforts it has made in recent years. This charter covers agricultural expertise, scientific research, analytical technologies, quality, and regulations. The company has also set up a European production chain with proprietary, certified organic hemp extracts, and is developing ever greener extraction techniques and state-of-the-art analytical methods.
Collaboration across the industry can ensure implementation of the necessary guarantees for the marketing of safe and quality products containing CBD and ensure the sustainability of this industry.
Asdjad Aboudou is a product manager with the Robertet Health & Beauty Division. Robertet has been a world leader in the sourcing and processing of natural raw materials since 1850, and has mastered every stage of the process from the seed to the finished product.