Key regions: Netherlands, Spain, United States, Europe, Australia
The CBD Products market in EU-27 is experiencing significant growth and development driven by changing consumer preferences, regulatory shifts, and increasing awareness of the potential health benefits associated with CBD products.
Customer preferences: Consumers in the EU-27 are increasingly turning to CBD products as a natural alternative for health and wellness purposes. The demand for CBD-infused products such as oils, tinctures, capsules, and topicals is on the rise as individuals seek non-pharmaceutical solutions for various ailments. Additionally, the trend towards organic and sustainable products is influencing purchasing decisions, leading to a preference for CBD products that are ethically sourced and environmentally friendly.
Trends in the market: In countries like Germany and the Netherlands, CBD products are gaining popularity not only for their health benefits but also for their recreational use. The market is witnessing a surge in innovative CBD products catering to different consumer needs, such as CBD-infused beverages, skincare products, and pet treats. E-commerce platforms are playing a crucial role in driving sales of CBD products, providing consumers with convenient access to a wide range of offerings. Moreover, the market is seeing an increase in partnerships between CBD companies and mainstream retailers, further expanding the reach of these products.
Local special circumstances: In countries like France and Spain, where hemp cultivation has a long history, there is a growing emphasis on locally sourced CBD products. Consumers are showing a preference for CBD goods that are made from domestically grown hemp, reflecting a desire to support local farmers and businesses. This trend is shaping the market landscape in these countries, with an increasing number of CBD companies highlighting the origin of their raw materials as a key selling point.
Underlying macroeconomic factors: The economic landscape in the EU-27, characterized by a growing middle-class population and increasing disposable income, is contributing to the expansion of the CBD Products market. As consumers become more health-conscious and willing to invest in premium products, the demand for high-quality CBD goods is expected to continue rising. Furthermore, favorable regulatory frameworks in certain EU countries are creating a conducive environment for the growth of the CBD industry, attracting investments and fostering innovation in product development and marketing strategies.
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.
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