CBD Products - Northern Europe

Northern Europe

Revenue in Northern Europe's CBD Products market is forecasted to reach US$129.30m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -1.40%, leading to a market volume of US$120.50m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$2,575.00m in 2024).
In terms of per person revenues in 2024, US$24.95 are generated concerning total population figures.
In Northern Europe, Denmark's CBD market is experiencing a surge in demand for innovative CBD products, driving competition among local producers.

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

Market

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Region comparison

Currency

Analyst Opinion

The CBD Products market in Northern Europe has seen significant growth and development in recent years.

Customer preferences: Consumers in Northern Europe are increasingly seeking natural and organic products, driving the demand for CBD products. The region's health-conscious population is particularly interested in the potential health benefits associated with CBD, such as pain relief, anxiety reduction, and improved sleep quality.

Trends in the market: In countries like Sweden and Denmark, there is a growing trend towards incorporating CBD products into wellness and skincare routines. Beauty products infused with CBD, such as creams and serums, are gaining popularity among consumers looking for natural and holistic skincare solutions. Additionally, the use of CBD oil for its therapeutic properties is on the rise in countries like Norway and Finland, where people are turning to alternative remedies for various health issues.

Local special circumstances: Northern Europe has a well-established reputation for high-quality and sustainable products, and this extends to the CBD market as well. Consumers in the region place a strong emphasis on product transparency, traceability, and ethical sourcing practices. As a result, CBD brands that prioritize these values tend to perform well in the market.

Underlying macroeconomic factors: The regulatory environment surrounding CBD products in Northern Europe is relatively favorable compared to other regions. Many countries in the region have legalized the use of CBD with low THC content, creating opportunities for businesses to enter the market and expand their product offerings. Additionally, the region's stable economy and high disposable income levels contribute to the growing demand for premium CBD products.

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.