CBD Products - Germany

Germany

Germany is expected to experience a significant increase in revenue within the CBD Products market, with projections indicating a rise to US$0.43bn by 2024.
The market is forecasted to display a Compound Annual Growth Rate (CAGR 2024-2029) of 0.46%, leading to a market volume of US$0.44bn by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, reaching US$2,575.00m in 2024.
In terms of per capita figures, revenues of US$22.27 are expected to be generated in Germany in 2024.
Germany's CBD products market is experiencing significant growth due to increasing consumer demand for wellness and relaxation solutions.

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

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Analyst Opinion

The demand for CBD products in Germany has been steadily increasing in recent years, reflecting a growing trend towards natural and alternative wellness solutions among consumers.

Customer preferences: German consumers are increasingly seeking natural and organic products, driving the demand for CBD products that are perceived as more holistic and less reliant on synthetic ingredients. The trend towards self-care and wellness has also influenced preferences, with consumers looking for CBD products to help manage stress, anxiety, and various health conditions.

Trends in the market: One notable trend in the CBD products market in Germany is the diversification of product offerings. Companies are introducing a wide range of CBD-infused products, including skincare, beverages, edibles, and pet products, to cater to different consumer needs and preferences. This diversification is not only expanding the market but also attracting new customer segments.

Local special circumstances: Germany has a well-established regulatory framework for CBD products, which has helped to legitimize the market and build consumer trust. The country's stringent quality and safety standards have also contributed to the overall positive perception of CBD products among consumers. Additionally, the increasing availability of CBD products in pharmacies and wellness stores has made them more accessible to a wider audience.

Underlying macroeconomic factors: The overall economic stability in Germany has provided a conducive environment for the growth of the CBD products market. With a strong purchasing power and a high level of disposable income, German consumers are more willing to invest in premium CBD products. Moreover, the increasing awareness about the potential health benefits of CBD and the changing attitudes towards cannabis use have further fueled the market growth.

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.