Redazione
6 October 2022
Commodity Sectors

CBD: how much the online market for legal cannabis is worth

Anxiety, stress or insomnia? There is a solution that seems to solve all these problems, at least for the 24% of the Italian population who claim to make habitual (6%) or occasional (18%) use of CBD products.

If the legalisation of soft drugs, including cannabis, is in fact one of the most debated topics of recent times and one that is polarising public opinion, there is already an extremely flourishing market concerning the commercialisation of so-called ‘cannabis light’ or CBD (short for cannabidiol): a molecule extracted from hemp that, unlike the THC molecule, has no narcotic effects.

The global cannabidiol market is in fact growing rapidly, also thanks to the boost from eCommerce, so much so that the annual growth rate is estimated at 21.2% until 2028. Let us therefore analyse this market together to find out what impact it has on the world of online sales.

All the numbers of the CBD

According to the latest available data, the legal cannabis sector currently has more than 3,000 active companies, around 12,000 workers and a thousand physical shops alongside a growing number of online shops specialising in the sale of CBD.

The ‘highlight’ for legal cannabis was experienced during the first lockdown in March 2020 when the entire sector recorded a +600% increase in sales (source: open.it). An interest that has continued to grow in recent years. According to data reported by Google Trends, in fact, already in 2019 there were 6.4 million individual searches for the term CBD every month. The strong interest has therefore translated into a rapid growth of consumers: according to Prohibition Partners’ Exclusive Consumer Research study, 13% of adults would have started using CBD or cannabidiol-based products just in the last few years, while between 9% and 30% of Europeans would have tried CBD-based products by 2020.

38% of CBD users use CBD recreationally, while 26% use cannabidiol for medical and curative purposes. North America, Latin America and Europe are the main CBD markets with a combined value of USD 7 billion. Europe, in particular, is the third largest market and the European cannabis market is estimated to be worth approximately EUR 403.4 million by the end of 2021. Prohibition Partners also expects the market to grow at a CAGR (Compound Annual Growth Rate) between 2021 and 2025 of +67.4%, to reach a value of EUR 3.2 billion in 2025.

As far as Italy is concerned, a recent survey conducted by MinervaTop brings to light that 6% of respondents reported using CBD oils and extracts on a regular basis; while 18% claim occasional use of CBD products.

The typical consumer in Italy

CBD users in Italy are mainly adults aged between 35 and 45 years (only 4% of the population aged between 18 and 24 years use CBD). People considering CBD use in the future are predominantly over the age of 55 and look to CBD as a potential pain relief support.

In fact, these products are widely used for curative purposes, so that the B2C segment includes mainly hospital and retail pharmacies, as well as online stores. The B2B segment, on the other hand, includes companies operating in markets such as food & beverage, nutraceuticals, personal care and cosmetics, and pharmaceuticals, which use cannabidiol for the production of further CBD-based products.

An increasingly online trend

If the last few years have therefore seen a proliferation of retail outlets dedicated to the sale of CBD, the same is also true for the world of eCommerce, where more and more online stores are dedicated to the sale of CBD products for creative or curative purposes.

The advantages of selling and buying CBD online

Besides a greater variety of products and cheaper offers, the success of online sales of CBD products is also linked to a cultural factor. Despite the fact that these products are 100% legal, it is undeniable that there is still a kind of taboo related to the purchase of cannabidiol that leads to a preference for a more ‘anonymous’ purchase formula compared to the physical store. The online, precisely.

In this context, therefore, delivery formulas that guarantee greater privacy are certainly more appreciated by consumers and would-be consumers. Locker delivery, for instance, allows the buyer to collect his purchase when and where he prefers, away from prying eyes.

The most interesting realities for buying CBD online

TheWeedZard, JustBob, Cbweed, CBD Mania and WeWeed are just some of the best known names for legal cannabis eShoppers. One of the most interesting names on this scene to date, however, is certainly that of JustMary, Italy’s first player in the delivery of cannabis products.

The service, already active in eight cities, seven of which in Italy (and one in France), provides for the delivery of orders placed online by bicycle and scooter, between 5 p.m. and 11 p.m., and in total anonymity, since no personal data is collected from consumers and riders do not have the JustMary logo on their backpacks.

GEL Proximity: shipping in total convenience and anonymity

If you have an online store for cannabis light products and are looking for innovative and discreet solutions for the delivery of your products, GEL Proximity has the solution for you! With a Network of more than 45,000 Lockers and Pick-up Points already active throughout the country, your customers will be able to pick up their orders where and when they want, with total peace of mind. Contact us for more information on our services.

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