Pointing Out the Significance of CBD Extraction Technologies

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The cannabis industry in Europe has been witnessing a major development in the last few years. The industry might continue to improve as the cannabis market in the country is anticipated to reach nearly $137 billion by 2028, according to the European Cannabis Report 4th Edition. Emerged as a multi-billion dollar industry, cannabis has taken root in sectors ranging from healthcare to pharmaceuticals and consumer goods to agriculture.

As the industry has been inhibited by regulatory restrictions for most of recent history, most European countries legalized medical use of cannabis in the past few years, including Germany, France, Spain, Italy and the UK, among others. Since various states legalize the consumption of cannabis for recreational and medical uses, bringing them to the mass market has involved numerous scientific breakthroughs. With the legal cannabis industry continuing developing and the support for the legalization of recreational and medical marijuana use fosters.

Furthermore, these other realms have positioned themselves in the heart of a European CBD industry with approximately twice the addressable market of the U.S. As of 2020, the EU’s CBD market was also worth about €450 million, or more or less 31% of the global market share. By 2023, this market could also improve to at least €1.5 billion. (1) A progressive stance on cannabis legalization leaves room for the CBD industry to spring up! Struggling to find industries who could be the haven of green leaf? Well, this page might render buzzworthy ideas!

Over two years have passed since the German parliament voted to legalize medical cannabis. This was a landmark result in Europe, considering that cannabis was still listed as a strong narcotic in many countries at the time. Since then, many other European states have followed in Germany’s footsteps, and now even the European Commission is getting involved. The legalization of medical cannabis has a profound benefit for patients with severe diseases, such as multiple sclerosis or epilepsy. However, it also comes with complex decisions regarding the import, export, and cultivation of cannabis plants, which have to be made and monitored by the appointed regulatory body.

In Germany, for instance, the tender process for the cultivation licenses experienced several hiccups and although import licenses were granted to span the duration of the tender process, the country encountered severe supply bottlenecks. The tender process then experienced a make-over and now, after two years, the licensees have been named. So all in all, a lot has been happening in regards to the legalization of medical cannabis across Europe.

Scooping out more inclusive ideas, these additional industries are based in Switzerland. The Swiss CBD market is located in the center of Europe with a sizable population. Generally, it also has a more liberal and developed green leaf policy than the rest of Europe. It could also be an estimated $2.7 billion industry by 2028. (2) Cannabis is still a thriving paradigm that is just getting out of the shadows, so people have seen great deal of potential for driving innovation. This might be the perfect time to step up and get a clearer vision of how extraction technology revived the evolution of the cannabis industry! Let’s obtain more eye-opening insights over here.

In the long run, the key points in the legal framework might, first of all, involve the use of medicinal cannabis in general. Europe is trying to encourage more research. For example, there are products on the German market that are known to have significant medicinal effects, but there is hardly any or no clinical data in place comparable to that of the marketing authorization of traditional pharmaceuticals. So proving the efficacy of medical cannabis products for certain indications and collecting clinically relevant data is definitely a direction that the industry has to move into in the future. Roll up! Stay ahead of the curve to know more about the new and dynamic cannabis industry.

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Source 1: https://industrywired.com/top-10-european-cannabis-tech-startups-to-watch-out-in-2020/

Source 2: https://www.labiotech.eu/partner/medical-cannabis-europe-brexit/