Medicinal cannabis in Germany - Business Report

176 Confidential __________________________________________________________________________________ Spray), which is approved in various countries, contains THC in addition to Cannabidiol and is therefore subject to narcotics regulations. Foods containing Cannabidiol are offered in Germany in the food supplement sector without health claims but with the explicit reference to the CBD. The BVL therefore considers all foodstuffs, in partic- ular food supplements, which contain CBD or other Cannabinoids as novel food and therefore only marketable after prior authorisation. New launches 2018 CBD-containing products Figure 63: New launches of CBD-containing products in 2018, source: Statista 2019 Cannabidiol therefore covers a broad spectrum of indications as well as product variants, ranging from prescription drugs to food additives. Consequently, a trend projection for Cannabidiol is only meaningful, if all market segments where Cannabidiol products are represented are considered to- gether. The Hemp Business Journal predicts that the CBD market will become a $ 2.1 billion consumer mar- ket by 2020, representing 700% growth compared to 2016. This market has been the focus of industry leaders for some time now. In the US state of Washington alone there are already more than 800 approved CBD products. In addition, there are companies and distributors all over the world that trade in Cannabidiol products - these goods include consumer products and products of a medical nature. Some experts, such as Matt Karnes of Greenwave Advisors, expect even stronger growth in the CBD industry. He claims: "Looking at the current CBD market, I estimate that the market value will be $3 billion by 2021. oils tea gum water others