CBD Products - EAEU

EAEU

Revenue in the CBD Products market in the EAEU is forecasted to reach US$90.19m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2028) of 17.85%, leading to a market volume of US$174.00m by 2028.
When comparing globally, the United States is expected to generate the highest revenue (US$2,575.00m in 2024).
In terms of per capita figures, US$0.63 of revenue is generated per person in 2024.
EAEU sees a growing demand for CBD derivatives, signaling a shift towards alternative wellness solutions in the cannabis market.

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

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Analyst Opinion

The CBD Products market in EAEU is experiencing significant growth and development, driven by various factors shaping consumer preferences and market trends in the region.

Customer preferences: Consumers in the EAEU region are increasingly turning to CBD products due to a growing awareness of their potential health benefits and therapeutic properties. There is a rising demand for natural and organic products, including CBD oils, tinctures, and skincare items, as customers prioritize wellness and self-care in their daily routines.

Trends in the market: One notable trend in the EAEU CBD market is the diversification of product offerings to cater to different consumer needs and preferences. Companies are introducing innovative CBD-infused products such as beverages, edibles, and pet supplements to attract a wider customer base. Additionally, online retail channels are gaining popularity, providing convenience and accessibility to customers looking to purchase CBD products.

Local special circumstances: The EAEU region consists of countries with varying regulations and attitudes towards CBD products, influencing market dynamics. Some countries have more stringent regulations on CBD usage and sales, leading to a fragmented market landscape. As a result, companies operating in the region need to navigate different legal frameworks and cultural perceptions to effectively market their products.

Underlying macroeconomic factors: Economic factors such as rising disposable incomes and changing consumer lifestyles are contributing to the growth of the CBD market in the EAEU region. As consumers prioritize health and wellness, they are willing to spend more on high-quality CBD products, driving market expansion. Additionally, the increasing acceptance of CBD for medical and therapeutic purposes is fueling demand across the region.

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.