Switzeland Cannabidiol (CBD) Market, By Source

Synopsis
The above chart is Switzeland Cannabidiol (CBD) Market, 2017-2027 By Source(USD Million)

Market Dynamics

the use of cannabidiol (cbd) has gained immense popularity in recent years, with its increasing use in various products, especially in the health and wellness industry. switzerland is one of the leading countries in europe when it comes to the production and consumption of cbd. the cbd market in switzerland has seen a significant growth in demand over the years and is expected to continue its upward trend in the coming years. one of the major drivers for the demand of cbd in switzerland is its legalization for medical purposes. in 2011, the country legalized the use of cannabis for medical purposes, and in 2016, it was further expanded to include the use of cannabis containing less than 1% of the psychoactive compound tetrahydrocannabinol (thc). this has opened up the market for cbd products, as they do not contain thc and have a wide range of therapeutic benefits. additionally, the swiss government also allows the cultivation of hemp for medical and scientific purposes, making it a favorable environment for cbd producers. another factor contributing to the demand for cbd in switzerland is the increasing focus on natural and organic products. with the rise in awareness about the harmful effects of chemicals and synthetic ingredients, consumers are turning towards natural and plant-based alternatives. this has led to a surge in demand for cbd-based products, such as oils, tinctures, and creams, as they are derived from the hemp plant and are considered to be natural and safe. furthermore, the swiss market is also witnessing a growing demand for cbd in the food and beverage sector. cbd-infused edibles and drinks, such as chocolates, teas, and energy drinks, are increasingly becoming popular among consumers who are looking for alternative ways to consume cbd. this trend is expected to continue as more food and beverage companies are entering the cbd market. in terms of sources, the demand for cbd derived from hemp is expected to dominate the market in switzerland. this can be attributed to the ease of cultivation and less stringent regulations compared to other sources, such as marijuana. however, with the growing research and development in the industry, other sources, such as algae and yeast, are also gaining attention, which could potentially impact the demand for hemp-derived cbd in the future. in conclusion, the demand for cbd in switzerland is expected to witness continuous growth in the coming years due to factors such as legalization for medical purposes, increasing demand for natural and organic products, and rising interest in cbd-infused food and beverages. these factors, combined with the country's favorable regulatory environment, make switzerland a key player in the global cbd market.