As hemp reform spreads across the globe, the CBD market in the EU has started to see some significant changes from the last few decades. Many European countries are jumping on the bandwagon and adjusting their policies on hemp consumption and production, particularly in the CBD realm.
This wave of reform has found a whole new generation of intrigued and enthusiastic consumers, eager to incorporate CBD products into their lives for each of their various reasons.
But with reform comes regulation, which presents both pros and cons.
Much of the regulation that has been passed presents difficult roadblocks to hurtle for both CBD extraction companies and manufacturers creating different CBD-infused products. This has created a bit of a vacuum in the market as there are not enough companies taking on the call to meet the demand of European consumers.
The pro to this level of regulation right now is that there are a few companies out there that supply high-quality CBD products, which are fully EU compliant, 100% safe, and legal. In this area, Sequoya leads the pack far ahead of those in second place. This means that the consumers know exactly what they are getting in their product and don’t have to worry about sub-par, low-quality CBD products, and extracts parading as the best on the market.
But despite baffling regulations and strict requirements on producers of hemp-derived cannabidiol extracts, not only has the demand and sales for CBD products continued to grow, but manufacturers and hemp extractors are jumping in with both feet to take on the challenge.
So what is the current state of the European CBD market, how is the current demand for products being met, and how are manufacturers getting the high-quality, compliant CBD that they need for their products?
The Current State of the European CBD Market
Although still young, the CBD market in Europe can only be described as burgeoning.
With the demand for CBD products on a steady incline, recent studies project that the European CBD market is going to grow by 400% over the next 5 years.
Not only that, but this study was the first of its kind that was able to get enough in-depth data to show an accurate picture of what consumers are looking for. The study showed that 46% of the Europeans that they surveyed look at CBD favorably, and 77% of Europeans think that there should be more easily accessible CBD products on the market.
And although the supply of CBD products isn’t equal to the demand from European consumers, many companies are working to fill the gap.
The legal regulations are part of the issues regarding a lag in supply. To manage the quality of the products being created, many of these regulations instituted by the EU are stricter than most manufacturers would like to deal with. It’s causing existing companies to revamp their operations to ensure compliance which is no small task for them to do, and it is causing new players on the hemp scene to jump through regulatory hoops that weren’t necessary before.
And while companies are working to retrofit themselves into this new system, some are closing their doors instead. While this doesn’t help the supply issue Europe is facing, it is paving the way for new and better companies to come in and create the quality, compliant products that European consumers are looking for. Companies like Sequoya are leading the industry in a new direction of high-quality, compliant hemp products that will change the landscape of the European CBD market permanently and for the better.
Increasing Demand for High-Quality CBD Products
The European CBD market has seen an explosion of different CBD products during this new wave, ranging from nutraceuticals, pharmaceuticals, cosmetics, supplements, and food & beverage products.
Whether someone is interested in the more common CBD oils and tinctures, CBD-infused skincare, or even CBD-infused energy drinks, odds are that some European company is in the process of making it.
According to the recent study done by the Brightfield Group of 3,100 participants, 16% of Europeans ages 18 and up have at some point tried CBD, and 3/4 of those consumers reported that CBD has had a positive impact on their lives. And for those participants who hadn’t tried CBD yet, 18% said they were likely to do so within the following 6 months.
There are many different reasons that consumers are turning to CBD now. These were the top 5 reasons that those surveyed gave for purchasing CBD: roughly 40% of consumers purchase CBD to help with pain management, 34% for relaxation, 31% for stress relief, 26% for anxiety relief, and 21% for overall wellness.
Not only that, but the study also showed that the top three factors that are important to consumers when it comes to purchasing CBD products include price (81%), the amount of CBD per serving (75%), and the total amount of CBD in the product (74%).
This incredibly positive feedback provided by the Brightfield Group will give CBD brands a strong foundation to help encourage the adoption of CBD to consumers and help them motivate their customers to transition from using CBD occasionally or as a novelty item to using it more regularly in their routine.
Increasing Demand for High-Quality CBD and Hemp Extracts
The consumer base isn’t the only group of people with a disproportionate supply and demand need. CBD product manufacturers have their own supply and demand issues that they are facing as well.
To create their CBD-infused products, manufacturers get their hemp and CBD extracts from extraction companies like Sequoya. The extraction companies are one of the foundational elements of the European CBD market; all of the manufacturers and consumers essentially rely on the extraction companies to be able to create and acquire the CBD products that they want and need.
The extraction companies are also under European regulations. This means that not only does their end product have to be of the highest quality and legal compliance, but so does every aspect of their operation, from their facility and equipment to their processes, checks, and balances. Sequoya is one of the only European hemp processing and wholesale producers of CBD Full Spectrum Oils and CBD Isolate that can boast of having the quality and compliance the industry requires.
All hemp products in the EU need to be GMP Food Grade Certified and hemp extraction facilities are expected to adhere to strict GMP Quality Analysis guidelines. But what exactly do those things mean?
‘Good Manufacturing Practice’ (GMP) are those aspects of quality assurance that ensure materials–in this case, hemp and hemp products–are consistently produced and controlled during production. This guarantees conformity with the regulations and the quality standards that apply to the industry while making sure that there isn’t any unacceptable change in the composition of the hemp products. This helps to ensure that the products are safe for human health and consumption.
Not only that, but GMP Quality Assurance plays a huge role in making GMP Food Grade Certified hemp products. Hemp extraction facilities are required to implement a thoroughly documented quality assurance system including:
● Employees being sufficiently trained
● Defining responsibilities
● Making sure the correct organization and processes are in place
● Assuring traceability
● Suitability to manufacturing safe, compliant products
● Ensuring technical know-how is in place to control:
● Chemical processes
● Processing machines
● Workplace conditions
● Treatment of products
Sequoya is at the head of the European CBD product manufacturing pack when it comes to producing GMP Food Grade Certified hemp products.
From acquiring the best hemp biomass available to our top-quality production practices to our thorough and heavily-involved quality control, we deliver the best hemp products and extracts available on the European market today.
Although there may be a shortage of compliant, high-quality CBD and hemp extracts and isolates on the market, Sequoya is one of the few extraction facilities that is delivering the kind of product that manufacturers are looking for.
From their brand new, state-of-the-art facility, their pharma and hospital-grade build materials and environmental control systems, and their clean extraction methods, Sequoya is one of the only facilities in Europe delivering clean and compliant CBD, CBG, CBN, and CBC products for the cosmetics, supplement, food & beverage and pharmaceutical industries. We hold ourselves to the highest standards through every step of our extraction process and throughout every part of our facility.
This allows us to bring the CBD and hemp extracts and isolates to the market that ensure the creation of top-quality products for the European CBD market, including nutraceuticals, pharmaceuticals, cosmetics, supplements, and food & beverage products.
The European CBD market is booming, and CBD in its various forms and various consumer packaged goods products is here to stay. With the demand from CBD consumers, the supply can only go up as more manufacturers continue to enter the market and deliver a plethora of great CBD products.
The future of the European CBD market is bright and only getting brighter.
Perhaps you are looking to merge into the European CBD market. Whether you are an existing company looking to enhance your product or are starting on a brand new venture, we here at Sequoya would love to help you create EU compliant products that can be held to the highest standards. Please contact us and we can help you take your business and product to the next level!