Italy, Sweden–CBD is broadly legal across Europe, according to a report by Fortune. The Brightfield Group, a market intelligence firm for the legal cannabidiol (CBD) and cannabis industries, estimates that the European CBD market will boom over the next four years. It was estimated at $318 million in 2018, and is expected to grow over 400% through 2023, with the UK, Austria and Germany being home to large and growing markets, and Switzerland and Spain growing as they improve regulations surrounding product quality.
Elsewhere in Europe, however, the news isn’t as positive for the CBD industry. As the European Monitoring Centre for Drugs and Drug Addiction reported, the Supreme Court of Sweden ruled that, while industrial hemp is exempt from the narcotic control laws, preparations made from it that contain THC are not exempt. A release from the Court further explained that the exception for industrial hemp only relates to plants of the genus Cannabis. “A preparation containing THC does not meet with the exception and therefore constitutes drugs.”
In other news from Europe, the the courts in Italy issued a ruling that impacts the country’s recent “cannabis light” market. European Monitoring Centre reported that Italy’s highest court published a note of information on the legality of selling low-THC cannabis, determining that the sale and marketing of Cannabis sativa L. and the leaves, flowers, oil, resin, obtained from the cultivation of that hemp variety to the public is an offence under the Italian drug control law “unless the products are in practice devoid of narcotic effects.”