The pot growth story has mostly focused on developments in Canada and the U.S., but one broker says medical cannabis and wellness products are proving a bigger money spinner than it had expected in Europe.

According to Canaccord Genuity Inc., cannabis-derived cannabidiol, better known as CBD, has become a “trending ingredient” in a range of consumer goods and is now highly visible in pharmacies and health stores.

It estimates the CBD product market in Europe was worth 750 million euros (US$857 million) to 1 billion euros in 2018, potentially five times the 200 million-euro estimate it made in August.

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Sam Unsted ~ Bloomberg News ~

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