European Hemp Players Join Forces To Make Legal CBD Market A Reality
Europe's hemp industry is tired of operating in limbo and wants to secure a fully regulated CBD market as soon a possible. Industry players will pool resources and invest €3.5m to win novel food approval for a number of different CBD products.
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The European Commission has unexpectedly concluded that CBD should not be considered as a drug opening up the path to a regulated EU market for the cannabinoid as a novel food.
European Industrial Hemp Association warns regulating CBD supplements as drugs will see the EU fall behind other markets such as the US and fuel the development of an unregulated black market.
The UK was the most likely source of unauthorized CBD food products sold in the EU in the first half of 2020, an analysis by HBW Insight reveals. Ireland and Spain are leading the way in cracking down on such products and informing neighboring countries of the risks posed.