The cbd market - Germany (2023)

1.1 Introduction

The CBD market refers to the sale of products containing cannabidiol. Cannabidiol is a non-psychoactive component of cannabis. Nonetheless, many different products are marketed. These include CBD oils, creams, herbal teas, products for smoking, etc.

The global CBD market has grown at a quick pace in recent years. In addition to this, it is likely to go through a 20% growth between 2021 and 2028. The issue is that regulations differ radically from country to country, making it difficult to see a global trend. These strict laws also hinder the successful development of the market.

In Germany, however, CBD-based products are very successful. The German market is still relatively young, but there are already many established companies. There is not really a typical CBD consumer. This is mainly a trend that motivates the younger generations. However, many consumers consume this type of product to reduce discomfort such as anxiety or pain. Therefore, the medicinal (not yet fully recognized) side of CBD is highlighted.

The most prominent companies in Germany in terms of CBD sales are Hempamed & Cibdol. There is a strong development of new companies in this market. They are mainly active in the major German cities where they are opening many small stores to gain trust and visibility with new customers.

In Germany, consumers are now looking for certified products. They are more inclined to consume CBD products because of the benefits they would have on our bodies. The challenge for new CBD product providers is to gain consumer trust while also differentiating themselves from established companies.