CBD Products - Central & Western Europe

Central & Western Europe

Revenue in CBD Products in Central & Western Europe is forecasted to reach US$1.55bn in 2024.
Revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.76%, leading to a market volume of US$1.61bn by 2029.
When compared globally, the United States will generate the highest revenue (US$2,575.00m in 2024).
In terms of total population figures, per person revenues of US$22.06 are generated in 2024.
Germany's increasing acceptance and demand for CBD products within the Cannabis market are driving significant growth in the Central & Western European region.

Key regions: Netherlands, Spain, United States, Europe, Australia

Market

Region

Region comparison

Currency

Analyst Opinion

The CBD Products market in Central & Western Europe has been experiencing significant growth and development in recent years.

Customer preferences: Consumers in Central & Western Europe are increasingly turning to CBD products for various reasons, including wellness and health benefits. The trend towards natural and organic products has also influenced the growing demand for CBD products in the region.

Trends in the market: In countries like Germany and France, there is a notable trend towards incorporating CBD products into daily wellness routines. This includes the use of CBD oils, edibles, and skincare products. Additionally, the increasing awareness and acceptance of CBD for its potential therapeutic properties have contributed to the market growth in these countries.

Local special circumstances: In countries such as Switzerland and Austria, where cannabis regulations are relatively more lenient compared to other European nations, there is a flourishing market for CBD products. The local special circumstances, such as favorable regulatory environments and a long-standing tradition of hemp cultivation, have created a conducive market landscape for CBD products to thrive.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Central & Western Europe have also played a role in the growth of the CBD products market. As consumers become more health-conscious and willing to spend on premium wellness products, the demand for high-quality CBD products continues to rise in the region. Additionally, the presence of established distribution networks and retail channels has made it easier for CBD products to reach a wider consumer base in Central & Western Europe.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.