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European and Global market: Top trends for medical cannabis & CBD industry in 2021

We analyze and present the most important trends of the European & global market for medical cannabis & CBD for 2021:

1. New wave of legislation for CBD products in Europe

Following the ruling of the European Court of Justice on CBD products, the European Commission has redefined its position, and has re-examined the applications for marketing authorization for CBD (Novel Food) products which it had frozen. EU Member States are expected to follow the ruling of the European Court of Justice and regulate CBD products as a legal product in the respective industries.

2. The impact of the COVID-19 pandemic undoubtedly increases the opportunities for the development of the medical cannabis industry.

The COVID-19 pandemic has had a serious impact on the global economy. At the same time, however, at least 16 research teams are actively working on treatments that include the use of cannabinoids to combat the symptoms caused by COVID-19.

The trend towards research on cannabis-based therapies will undoubtedly continue in 2021, even after the end of the pandemic.

CBD consumption increased, because many consumers have greater access to CBD products, as well as because these products have been used to treat the psychological problems caused by the COVID-19 pandemic.

3. Competition intensifies to meet the growing demand for medical cannabis in the European market

The effort to meet the growing demand of the European market for medical cannabis continues.

Gradually more European countries are exporting to Germany, compared to previous years, where exports came mainly from Canada and the Netherlands.

The high production standards (GMP) are still required by European markets.

4. Rationalization of the market

Throughout 2020, we have seen large companies redesign their global strategies, limit ambitious global dominance plans, and prioritize target markets.

In 2021, the market rationalization trend will continue, with companies focusing their efforts on the most profitable markets aiming to short-term to medium-term profits.

5. The market for dronabinol (Dronabinol) is constantly growing

The European Dronabinol industry continues to attract the attention of large companies in the global cannabis market.

In 2021, the dynamics of this market in Europe are expected to continue, where prices are decreasing due to higher competition.

The main target markets for dronavinol exports are Germany, Austria, Denmark and Switzerland.

6. The rise of small (secondary) cannabinoids such as CBN & CBG

As countries slowly begin to legalize medical cannabis, research into phytocannabinoids and the endocannabinoid system has grown significantly.

At the same time, research is being developed on secondary cannabinoids, such as CBN and CBG, which have potential therapeutic properties.

It is anticipated that more and more companies will include products containing cannabinoids as product diversification and innovation become necessary in a highly competitive market.

7. Positive developments for the federal legalization of cannabis in the USA

The US presidential election in November 2020 was a milestone for the cannabis industry as Democrats Joe Biden and Kamala Harris were elected to the US presidency. Both the president and the vice president-elect have shown interest in tackling federal cannabis reform in the country during their tenure.

In 2021, the progress of the federal cannabis reform in the USA is expected to be significant, as more and more representatives of the political spectrum support some form of cannabis legalization at a federal level.

Source: Prohibition Partners

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