The enactment of the 2018 Farm Bill and the legalization of hemp and hemp derivatives, including cannabidiol (“CBD”), has led to a massive CBD craze in the United States. The highly coveted cannabinoid is infused with everything: bath bombs, dog treats and even workout clothes (yes, workout clothes!). According to a recent study by Cowen, the sales of these products are expected to reach $16 billion by 2025.
Thanks to globalization, this sudden boom is not contained within the U.S. borders. Europe has also experienced a huge uptick in the sales of these products, which are expected to reach nearly $1.7 billion by 2023.
In light of this global expansion and the desire of many of our clients to export their hemp and hemp-derived CBD (“Hemp CBD”) products to Europe, we are presenting a mini-series that briefly analyzes how certain European countries treat hemp and the sale and marketing of hemp-derived CBD. In the second post of these series, we now turn our attention to Spain, whose legal framework is closely intertwined with that of the European Union (EU). (Our first post, on Great Britain, can be found here.)
Spain has a long history of hemp production. It is said that the sails of