Published Date: 2021-06-08
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European CBD Market size is projected to exceed USD 25.8 billion by 2027, according to a latest forecast report by Graphical Research.
The Europe cannabidiol industry is noted to be in its nascent stage where consumers are observed to remain highly aware about different products and its subsequent effect on human health. However, majority of users are noted to be new to the consumption of CBD in one form or the other. With significant regulatory support and optimistic stance of the European Union on the consumption of CBD, the market is expected to witness a significant growth over the forecast period. Further, with a widespread activity towards commercializing CBD in key economies of Europe, it is noted to influence relatively smaller nations such as Poland and Bulgaria to consider the legalization.
The creams and roll-on segment are expected to witness a 33.6% CAGR between 2021 and 2027. The high growth can be attributed to an increasing interest from the cosmetic applications of cannabidiol. From a medicinal point of view, CBD is studied to show anti-inflammatory characteristics that further propel the demand for creams and roll-on. CBD is also noted to remain highly effective against dry skin which also compliments the segmental growth.
The anxiety/stress segment accounted for nearly 22% of the market proportion in 2020. The increasing prevalence of mental disorders such as anxiety/stress and depression has compelled the healthcare practitioners to resort to CBD based medications. According to the World Health Organization, nearly 4.3% of Europe’s population is affected by depression. Such high prevalence rates are expected to create significant demand in the coming years.
Browse detailed statistical insights from the report, “Europe Cannabidiol (CBD) Market Forecast 2027 by Route of Administration (Oral, Topical, Inhalation, Transdermal Patches, Rectal, Sublingual), Product (Oil, Tinctures, Suppository, Transdermal Patches, Isolates, Tablet, Capsules, Vape Oil, Creams And Roll-On), Application (Anxiety/Stress, Sleep/Insomnia. Chronic Pain, Migraine, Skin Care, Seizures, Joint Pain & Inflammation, Neurological Conditions), Source (Marijuana, Hemp), Distribution Channel (Online, Offline {Hospital Pharmacies, Retail Stores}), Research Report, Country Outlook (France, Switzerland, UK, The Netherlands, Italy, Germany, Denmark, Austria), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1823/europe-cannabidiol-cbd-market
The oral segment accounted for over USD 1 billion sales in 2020. The oral route of administration is highly preferred as it offers a gradual relief to pain and other disorders. With several manufacturers relying on the oral route of administration for product development, the segment is also noted to be highly driven by the supply side. A similar trend is anticipated to throughout the forecast period.
The hemp segment is estimated to account for over USD 18.4 billion by the end of 2027. With the Court of Justice of the European Union in November 2020 stating that CBD is not a narcotic substance, the market has gained significant traction. Further, hemp-derived CBD is completely legal in the region as the THC content does not exceed 0.2%. With stringent regulations and monitoring of marijuana-based CBD products, the hemp segment is expected to witness a smooth market evolution throughout the forecast period.
The offline segment is further segmented into hospital pharmacies and retail stores. The offline segment accounted for more than half of the sales of CBD products across Europe. This trend is anticipated to continue throughout the forecast period as consumers are noted to rely more on physical stores than online deliveries. This also helps minimize the threat of counterfeit products. Hence the segment is anticipated to supplement the market growth.
UK CBD market is expected to show a lucrative growth rate of nearly 40% between 2021 and 2027. With a significantly higher consumer base in the country, UK is poised to reach revenue sales of nearly USD 7 billion by the end of forecast period. The increasing geriatric population, high prevalence of conditions such as chronic pain and PTSD, the country is expected to contribute significantly to the regional CBD market throughout the forecast period.
The market for cannabidiol in European research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Product
Europe Market, By Application
Europe Market, By Route of Administration
Europe Market, By Source
Europe Market, By Distribution Channel
The above information has been provided for the following countries:
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