The Europe CBD oil market, a thriving sector in wellness, has witnessed significant growth. Cannabidiol (CBD), extracted from hemp, is widely accepted for its therapeutic properties. Influenced by evolving consumer attitudes towards holistic health, the market reflects increasing awareness of CBD benefits. As a 21-carbon terpenophenol compound, CBD, derived from medicinal plants or synthetically, lacks significant effects on abuse liability in preclinical animal models. In humans, CBD shows no inclination towards violence or dependence, distinguishing it from THC in drug discrimination models.
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Data Bridge Market Research analyses that the Europe CBD Oil Market, which was USD 16,251,241.15 million in 2022, is expected to reach USD 1,129,922.36 million by 2030 and is expected to undergo a CAGR of 39.4% during the forecast period of 2023-2030. Diverse distribution channels, spanning retail outlets, online platforms, and pharmacies, play a pivotal role in bolstering CBD oil accessibility. This widespread availability not only caters to diverse consumer preferences but also significantly contributes to the overall growth of the market.
Key Findings of the Study
Growing use of plant-based medicines is expected to drive the market's growth rate
Herbal solutions, derived from plant parts or extracts, feature diverse compounds believed to synergistically work. Factors driving their popularity include consumer preference for natural therapies, a renewed interest in herbal remedies, dissatisfaction with traditional medicines, and perceptions of herbal effectiveness against specific diseases. The misconception that herbal products are inferior adds to their appeal. In conclusion, the increasing adoption of plant-based medicine presents an opportunity for the global CBD oil market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (THC Dominant, CBD Dominant, Marijuana Based, Hemp Based), Product Type (Original, Blended), Product Category (Unflavoured, Flavoured), Application (Food and Beverages, Personal Care/ Cosmetics, Pharma and Nutraceuticals, Industrial Application), Distribution Channel (Direct, Indirect)
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Countries Covered
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Germany, Austria, Denmark, Sweden, Spain, Italy, France, U.K, and Rest of Europe
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Market Players Covered
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Aurora Cannabis (Canada), Diamond CBD (U.S.), ENDOCA (U.S.), APHRIA Inc. (Canada), ConnOils (U.S.), Elixinol Europe Limited (Australia), Emblem CANNABIS (France), NuLeaf Naturals, LLC (U.S.), CBD Ultra Limited (U.K.), and The Original Alternative (U.K.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe CBD oil market is segmented based on type, product type, product category, application and distribution channel.
- On the basis of type, the Europe CBD oil market is segmented into THC dominant, CBD dominant, marijuana based, and hemp based
- On the basis of product type, the Europe CBD oil market is segmented into original, blended
- On the basis of product category, the Europe CBD oil market is segmented into unflavoured, and flavoured
- On the basis of application, the Europe CBD oil market is segmented into food and beverages, personal care/ cosmetics, pharma and nutraceuticals, and industrial application
- On the basis of distribution channel, the Europe CBD oil market is segmented into direct, and indirect
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe CBD oil market players in Europe CBD oil market are Emblem CANNABIS (France), NuLeaf Naturals, LLC (U.S.), CBD Ultra Limited (U.K.), and The Original Alternative (U.K.)
Market Developments
- In April 2023, Kelvion took a significant step in environmental sustainability by expanding its industrial air cooler range. The new range is designed to accommodate natural refrigerants such as CO2, ammonia, or propane, supporting decarbonization efforts. These air coolers not only contribute to a greener operation but also offer cost efficiency. Aligned with the rising demand for eco-friendly refrigerants, the cubic and dual discharge air coolers cater to diverse applications in refrigeration plants, distribution centers, and food processing facilities
- In November 2021, VIVO Cannabis (T.M.) introduced the Beacon Medical (T.M.) high-dose CBD oil and pediatric care program, featuring a potent cannabis distillate named Beacon Medical 2:100. This CBD oil offers 100 mg of CBD with minimal tetrahydrocannabinol (THC), ensuring therapeutic benefits without psychoactive effects. The use of non-GMO, food-grade medium-chain triglycerides (MCT) as a carrier oil in the entire Beacon Medical oil line results in an odorless and flavorless final product, enhancing the overall user experience
- In September 2021, Aurora Cannabis, Inc. unveiled Biodiol, the first medical cannabis oil. With 3% and 10% CBD doses, it's available in 10mL and 30mL bottles, accessible in pharmacies nationwide. Uruguay's Ministry of Public Health certified Biodiol for treating refractory epilepsy in children and adolescents, marking a significant step in medical cannabis acceptance
- In June 2020, Diamond CBD significantly expanded its product line by introducing various CBD oil products, such as CBD Oil with Hemp Seed Oil, Full Spectrum CBD MCT Oils, CBD Oil with Olive Oil, and CBD Oil Honey Tinctures. This strategic move not only diversified their offerings but also contributed to increased revenue, tapping into different consumer preferences
Regional Analysis
Geographically, the countries covered in the Europe CBD oil market report are Germany, Austria, Denmark, Sweden, Spain, Italy, France, U.K, and Rest of Europe
As per Data Bridge Market Research analysis:
France is the dominant region in Europe CBD oil market during the forecast period 2023-2030
France dominates the Europe CBD oil market, driven by a surging demand for CBD products. Manufacturers prioritize ingredients tailored for the French market, emphasizing market share. Factors contributing to this dominance include heightened consumer awareness of CBD's health benefits, increased research activities, untapped markets, a substantial population, and rising demand for CBD oil. The confluence of these elements positions France as a pivotal player in the expanding European CBD oil landscape.
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