The global CBD (Cannabidiol) market is estimated to grow to US$2.17bn by 2023.
Europe has become a hotbed for hemp-based product launches in recent years. A report from Persistence Market Research found that there has been 256 new CBD infused food and drink products launched across the region from 2018-2017, almost double the launches in the US.
Innovation levels have been the highest in hemp-infused snacks, ready to drink beverages, craft beer along with cosmetics and skincare.
Unlike cannabis, non-psychoactive CBD derived from an industrial hemp strain is legal in the UK.