Over 24 billion yen (154 million dollars) in 2023. The market of cannabis in Japan it is growing exponentially.
The latest report from the research firm confirms this Euromonitor International, highlighted recently from The Japan Times.
A revolutionary phenomenon driven by two main reasons:
- the ever-increasing demand for products containing CBD
- the Japanese Parliament's approval of a law it wants decriminalize the use of medical products derived from cannabis
CBD in Japan: almost 600 thousand consumers
Improve the quality of sleep e relieve stress and anxiety naturally. These are the benefits of CBD most appreciated by consumers in Japan, who number almost 600 thousand according to the latest estimates.
Many of which are found in CBD an alternative (valid and healthy) to tobacco and alcohol. To be taken when watching a film or TV series to relax.
CBD products marketed mainly in the form of supplements food and cosmetics, as well as lotions, oils and much more.
But a law approved by the Japanese Parliament last December could quickly change the situation. And give the definitive way to the CBD market in Japan.
Off to the CBD market in Japan
As confirmed by The Japan Times, the aforementioned law would go to decriminalize the use of medical products derived from cannabis. And not only that.
In fact, the proposal, which could come into force as early as this year, could regulate CBD in Japan. Promoting its legal use in various sectors: medical, wellness, beauty and food, with the sale of drinks and edibles.
“CBD containing liquid (vapes) is the type of product more common, but we expect large companies to enter the market by launching foods, beverages and nutritional supplements,” he commented Aya Suzuki, senior analyst at Euromonitor International.
For a thriving CBD market, however, it is essential to define guidelines that limit diffusion as much as possible of illicit products. To give space to legal and authorized sources.
“It is common for companies to source ingredients and products containing CBD from abroad. However, it is necessary to find some reliable (foreign) suppliers", concluded Suzuki.
As, "Many entrepreneurs who import ingredients and products have seen their packages discarded (by customs authorities) due to the THC detection inside them or the suspicion that they contained THC".
