The internal market for hemp and CBD derived products is projected to reach 5 billion Polish Zlotys (over 1,25 billion USD) until 2025.
As the Euromonitor International – a market advisory company – researched recently, medical marijuana products count for approximately 23% of the world markets. This is projected to decline to 9% as liberalization and depenalization of recreational cannabis use continues worldwide.
Polish hemp market is booming
Legal cannabis products are gaining momentum in Poland and its 36 million inhabitants.
Demand for CBD Oils is growing especially quickly as well as dried hemp used for vaporization and inhalants. Definitely a market worth watching closely
Legal production and sales of hemp, hemp derived products and medical marijuana in Poland is in its early stage however it is projected to grow rapidly in the coming years. There are high hopes for decriminalization of low amounts of recreational marijuana by the state authorities that might happen in the near future.
Euromonitor reports that CBD and legal cannabis sales in Poland are rising dramatically from a low base level with the prospect of reaching PLN 5 billion by 2025.
– We can distinguish the conscious consumers who often chooses CBD oil for their therapeutic properties which is a part of the wider trend for better health and wellbeing. These consumers usually prefer shopping in specialized stores including online CBD stores, health stores or pharmacies, where they can consult a specialist – says Konrad Dziekan, founder and CEO of Purehemp.pl.
Worldwide legal cannabis sales are expected to grow 376 percent in the coming years. With the projected liberalization of laws this means huge opportunities for business will appear internationally.
Market analysts say the cannabis market will eventually become part of the FMCG industry.
Recreational marijuana depenalization in Poland
Recent legalization of medical marijuana resulted in an increased demand for cannabis in 2019-2020, both from consumers and companies offering cannabis products. Increased demand has intensified the development of specialist business ventures from hemp cultivation, cannabis derived supplements production up to CBD stores online and vending machines selling cannabidiol (CBD), contributing to a significant increase in CBD sales in 2020.
On November 23rd a group of Polish Members of Parliament from both spectrums of political views set a meeting during which three different projects of new cannabis laws will be presented and discussed.
Those projects will take into account depenalization of low amounts of recreational marijuana use by adults as well as regulation of the hemp and CBD industry. Also the availability and legal status of medical marijuana shall be discussed.
Mrs. Beata Maciejewska who represents the leftist party of the Polish Parliament reports that the intention is to make the medical marijuana cheaper and more readily available on the market for Polish patients in need.
– There are still a lot of issues reported in terms of availability and prices of medical marijuana by both patients and doctors. With the development of scientific research clearly showing the benefits of medical use of cannabis this topic needs our attention. Plus that is also what our voters expect from us.
Hemp derived products legality and availability in Poland
Market analysts also expect a wider relaxing of regulations thereby making the CBD industry more transparent and safer for consumers.
The current situation mirrors that in other EU countries.
CBD in Poland is legal but it is not allowed to be marketed as a cure for any ailment. Companies are required not to mention any health benefits of using hemp oils or CBD tinctures. This approach seems to be deranged from reality taking the vast amount of scientific proof available but until there is no scientific consensus on the international level, companies need to comply.
At this moment CBD products are widely available in pharmacies, CBD stores both off and online as well as in herbal stores nationwide.
Major players on the market are HemPoland and Sequoya – both companies have solid amounts of foreign financing backing them. A few local Polish companies are also doing their best to serve the market with high quality hemp derived products for a reasonable price.
On the other hand a few online distributors are fighting for pole position that would enable a rapid growth once the market for recreational use of marijuana becomes open in the future.
Some of those companies are already in their late startup phase. Who is interesting to watch? Biokonopia, Sklep Konopny and Purehemp.pl are among those projected for market success.
The stakes are high. Who will come out on top? Only time (and effort) will tell.