U.K. Cannabidiol Market Projected To Reach Over $5 Billion In Value By 2032
According to a market analysis by Vantage Market Research, the value of the United Kingdom’s emerging cannabidiol (CBD) industry is projected to reach over $5 billion by 2032. The analysis valued the U.K.’s CBD industry at $1.355 billion in 2023.
A separate analysis published in September 2024 by CLEAR found that legalizing all forms of cannabis for adult use in the United Kingdom and taxing and regulating sales could generate as much as £9.5 billion per year. However, non-CBD cannabis products are only legal in the U.K. in limited medical circumstances.
“One of the top trends in the U.K. cannabidiol market is the increasing popularity of CBD-infused wellness products, such as skincare and beauty items, driven by consumer demand for holistic health solutions.” researchers at Vantage Market Research previously stated.
Below are other findings from Vantage:
• The U.K. CBD market is rapidly expanding, driven by consumer demand for natural health solutions
• CBD-infused wellness products and beverages are gaining significant popularity
• Transparency and quality assurance are becoming crucial for consumer trust
• There is an increasing integration of CBD into traditional pharmaceuticals
• The therapeutic potential of CBD continues to drive market interest and research investments
Cannabis remains the most commonly used controlled substance in the United Kingdom, with 7.4% of adults between 16 and 59 years old in the UK reporting having used cannabis within the past year according to a 2022 report by the Office for National Statistics.
The National Centre for Social Research recently conducted a poll of United Kingdom citizens in which members of UK society were asked about their opinions regarding cannabis policy modernization efforts in the UK. The poll found a strong majority of support for legalizing cannabis sales in nearly every age group.
According to a separate analysis by The Dales Report, Germany and the United Kingdom are projected to control an estimated 77% of Europe’s emerging legal medical cannabis market by 2028.
“This growth is driven by both expanding legal frameworks and an increasing acknowledgment of the therapeutic benefits of cannabis. As both nations continue to refine their policies and commercial strategies, the focus remains on balancing patient needs with scientific and public health priorities.” The Dales Report stated about both national markets.
