Europe CBD Oil Market 2024-2032
According to IMARC Group’s report titled “Europe CBD Oil Market Report by Source (Marijuana Based, Hemp Based), Product Type (Inorganic, Organic), Product Category (Flavoured, Unflavoured), Application (Food and Beverages, Personal Care, Healthcare, Nutraceuticals, and Others), Distribution Channel (Direct, Indirect), and Country 2024-2032“, the report presents a thorough review featuring the market share, growth, share, trends, and research of the industry.
How Big is the Europe CBD Oil Industry?
The Europe CBD oil market size reached USD 721 Million in 2023. Looking forward, IMARC Group expects the market to reach USD 3,451.2 Million by 2032, exhibiting a growth rate (CAGR) of 18.65% during 2024-2032.
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Europe CBD Oil Market Trends:
The growth of the market is caused by the increasing recognition of CBD oil for its medical effects such as anti-inflammatory, pain and anxiety relief, among others. Likewise, the further legalization and regulatory endorsement of CBD products in several European countries is promoting the growth of the market. In that regard, the growing awareness and education regarding the health benefits of using the products by the consumers is also helping the market to grow.
In addition, the rise of e-commerce websites is improving the availability and distribution, thus boosting the demand of the product. In addition to that, the rapid growth of product forms such as tinctures, capsules, and topical applications is meeting the tastes and preferences of a wide group of consumers, hence pushing the market. Besides this, the market advancement is boosted by the cooperation between pharmaceutical firms and CBD producers in R&D and product making.
Europe CBD Oil Market Scope and Growth Analysis:
The Europe market is likely to increase steadily on account of constant development in the formulation of CBD products thereby increasing their use and the consumer base. The increasing focus on self-care as well as beauty products, particularly skincare and cosmetics is equally providing good opportunities for further growth. As per the report, the increasing penetration of functional foods and beverages appealing to health-oriented individuals will increase the size of the market.
The overall market scope is also expected to gain from the growth of the retail distribution channels such as herbal medicine stores and pharmacies which will boost the supply of the product. Based on the market analysis, the increasing demand for clinical experiments and research in the area of therapeutic application for CBD oil boosts market reliability and trust from the consumers. Lastly, the increasing shift towards eco-friendly and sustainable source of cultivation fits into the consumer trends and regulation provisions, increasing market scope.
Europe CBD Oil Market Outlook and Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Europe CBD oil market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Breakup by Source:
- Marijuana Based
- Hemp Based
Breakup by Product Type:
- Inorganic
- Organic
Breakup by Product Category:
- Flavoured
- Unflavoured
Breakup by Application:
- Food and Beverages
- Personal Care
- Healthcare
- Nutraceuticals
- Others
Breakup by Distribution Channel:
- Direct
- Indirect
Breakup by Country:
- Germany
- Spain
- Italy
- France
- United Kingdom
- Russia
- Rest of Europe
Top Players Analysis:
The report provides a detailed analysis of the competitive environment. It covers various aspects such as market structure, positioning of key players, top strategies for success, a competitive dashboard, and a company evaluation quadrant. Furthermore, the report includes comprehensive profiles of all major companies. Few players of the industry are Aurora Cannabis, Diamond CBD Inc., ENDOCA, APHRIA Inc., ConnOils LLC, Elixinol Global Limited, Emblem CANNABIS, NuLeaf Naturals, LLC, CBD Ultra Limited and The Original Alternative Limited.
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Other Key Points Covered in the Report:
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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