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European Cannabis Market And Ireland

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Cannabis leaf

Are CBD And Cannabis Worth It?

Right now the EU legal cannabis market is heading towards 240 million euros. This is nowhere near its peak as we are around 5 years behind the U.S.A market. This industry is nearly 30 billion and it continues to grow year on year. If you see how the industry progressed in the USA in terms of laws and regulations it will give you an idea of where the EU is going. The trend in terms of consumption of products gives you a look into the future also.

These two factors in conjunction with the flow of products into the EU from the states and the flow of cash out of the EU to the USA show there is a big demand for Hemp Oil in the EU. Medical cannabis in each EU country is growing in demand with Ireland starting its own in 2019. Our closest neighbour England is one of the largest Cannabis suppliers in the EU. All of the above provides investors with great opportunities and countries with a way of starting a new industry via Cannabis and its by-products. 

A New Industry – Video

The European cannabis – hemp market and Ireland have a massive opportunity if they grow hemp and cannabis. Hemp has so many uses as it can be used for your health when converted into CBD/Hemp Oil products. The fibres can be used to create concrete, cloths, glass, paper and so much more. As stated above we have our own medical cannabis pilot program and we get these products from other countries. There is no reason at all why we can’t grow these products ourselves and create a new industry, revenue, and jobs. This would be a sustainable and environmentally friendly industry. One hectare of industrial hemp can absorb 22 tonnes of CO2 per hectare. That is massive. We could help our CO2 footprint while growing our economy at the same time by growing hemp and cannabis. If only we could get out of our own way.

Conclusion

There are plenty of advantages for each country investing and growing its own CBD and Cannabis industries. Ireland relies a lot on the pharmaceutical industries here for jobs and taxes. With the USA looking to get these industries back to their home soil, now is the time to start working on alternatives.

FAQ’s

Does Europe have a Hemp Market?

The EU has an active hemp market, with production in most member nations. Production is centred in France, the Netherlands, Lithuania, and Romania. France is the main producer of hemp, accounting for almost 50% of Europe’s total production.

How many Legal Medical Cannabis programs are In Europe And The World?

22 countries have legalized medical cannabis programs. Ireland has a 5-year pilot program that started in 2019. Many EU countries also have relaxed cannabis possession laws. Austria, Belgium, Croatia, Czech Republic, Estonia, Finland, France, Germany, Ireland, Italy, Macedonia, Malta, The Netherlands, Portugal,  Romania, Russia, Serbia, Slovenia, Spain, Switzerland, Ukraine, and the United Kingdom.

What Is Medical Cannabis?

Medical cannabis, or medical marijuana, is cannabis and cannabinoids that are prescribed by physicians for their patients.

What Is Hemp?

Hemp is a variety of plant from the Cannabis genus. The THC level in the plant will determine whether it is classed as hemp or cannabis. EU will class a plant as Hemp if it has a THC level OF 0.2% or below. The USA states it is 0.3%. Any plant that is above these levels is now classed as Cannabis and NOT Hemp.

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