Europe Cannabidiol (CBD) Vape Juice Market, Product Type (Full Spectrum Vape Juice, Broad Spectrum Vape Juice, CBD Isolate Vape Juice), Source (Hemp and Marijuana), Strain (Indica, Sativa, and Hybrid), Propylene Glycol (VG) & Vegetable Glycerin (PG) Ratio (50/50 VG&PG Ratio, 60/40 VG&PG Ratio, 70/30 VG&PG Ratio), Category (THC Detectable, THC Non-Detectable, and No THC), Dose (High, Medium and Low), Flavour (Flavoured and Flavourless), Test Performed (Tested For Potency and Tested For Purity), Packaging Size (>30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML), Distribution Channel (Online, Wellness & Natural Product Stores and Medical Marijuana Dispensaries)- Industry Trends and Forecast to 2029.
Market Analysis and Insights
Rising disposable income, growing consumption per capita, and changing the dietary style of consumers across the globe are the major factors fostering the growth of the Europe cannabidiol (CBD) vape juice market. Changing lifestyle and rising awareness about cannabidiol (CBD) vape juice's health benefits are other factors that may act as market growth determinants. Increasing demand for e-liquid and e-cigarettes will further create lucrative opportunities for growth in the Europe cannabidiol (CBD) vape juice market.
However, the availability of low-cost alternative vape juices may hamper the market growth rate. Also, stringent government regulations will further restrain the market growth rate. Health risks of CBD vape juice, such as lung injury, may pose a major challenge for the market growth.
Data Bridge Market Research analyses that the Europe cannabidiol (CBD) vape juice market is expected to reach USD 8,348.47 million in 2029 from USD 113.40 million in 2021 and grow at a CAGR of 71.6% during the forecast period of 2022 to 2029.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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Product Type (Full Spectrum Vape Juice, Broad Spectrum Vape Juice, CBD Isolate Vape Juice), Source (Hemp and Marijuana), Strain (Indica, Sativa And Hybrid), Propylene Glycol (VG) & Vegetable Glycerin (PG) Ratio (50/50 VG&PG Ratio, 60/40 VG&PG Ratio, 70/30 VG&PG Ratio), Category (THC Detectable, THC Non-Detectable, and No THC), Dose (High, Medium and Low), Flavour (Flavoured and Flavourless), Test Performed (Tested For Potency and Tested For Purity), Packaging Size (>30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML), Distribution Channel (Online, Wellness & Natural Product Stores and Medical Marijuana Dispensaries)
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Countries Covered
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U.K., Switzerland, Germany, France, Poland, Turkey, Belgium, Italy, Portugal, Denmark and Rest of Europe
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Market Players Covered
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CBDfx, HempBombs, JustCBD, Le petit vapoteur, Vape Dinner Lady, Malaya Hemp, Marry Jane, Paso, among others
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Market Definition:
CBD vape juices, also known as CBD e-liquid or CBD vape oil, are liquids containing CBD used in e-cigarettes. These liquids are vaporized by the e-cigarette. When consumers inhale the vape juice, cannabidiol (CBD) enters their lungs, infusing the CBD into the bloodstream. CBD vape juices contain a few simple ingredients such as PG (propylene glycol), VG (vegetable glycerin), CBD extract, and the flavors used in e-liquids.
Europe Cannabidiol (CBD) Vape Juice Market Dynamics
Drivers
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Growing demand for cannabidiol (CBD) vape juice in the medical industry
Cannabidiol (CBD) vape juice has been considered the most advanced product in the treatment of epilepsy. The CBD is also used for anxiety, pain, and muscle disorders called dystonia, Parkinson's, Crohn's, and many other conditions. The therapeutic benefit of cannabidiol (CBD) vape juice involves the potential of terpenes and other cannabis phytochemicals, which provides various health benefits. The medical agencies are studying the natural benefits of CBD. As the cannabidiol (CBD) vape juice is considered a natural remedy that is considered to be powerful and safe for the treatment of various health issues.
As with urbanization, the standard of living of individuals is changing along with the preferences. The majority of human beings may suffer from a high level of pain and discomfort even after getting everything one can desire. The level of satisfaction has been decreasing among individuals. The issue has led to anxiety and sleeplessness, which invite various other chronic diseases. In earlier times, the researchers did not know about the benefits of the therapeutic dose, which may treat any disease in any medical condition.
The cannabidiol (CBD) vape juice also helps treat cancer, which is used at the time of the chemotherapy, which also helps prevent the side effects, particularly from feelings of nausea. Along with this, cannabidiol (CBD) vape juice is used to prevent drug addiction. Due to these various therapeutic benefits, the consumers have started being awarded, which has widened the area of application of cannabidiol (CBD) vape juice in the medical industry.
Moreover, many government organizations also approved cannabidiol (CBD) vape juice for many diseases.
For instance,
- In June 2018, the Food and Drug Administration (FDA) Trusted Source approved the use of Epidiolex, a CBD oral solution indicated for use in Lennox-Gastaut or Dravet syndrome, which are rare forms of epilepsy.
Opportunities
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Increasing awareness, efficient distribution channel, and easy availability
Cannabidiol (CBD) vape juice is organic vape juice extracted from the marijuana plant. It has less toxicity than other chemicals which are used in the manufacturing of pharmaceutical products. Cannabidiol (CBD) vape juice has several benefits, such as reducing anxiety and treating insomnia. CBD may help reduce chronic pain by reducing inflammation, impacting endocannabinoid receptor activity, and interacting with neurotransmitters.
Doctors prescribe cannabidiol (CBD) vape juice for pain refiling and reducing depression in all age groups. In several countries, people are aware of the benefits of the cannabidiol (CBD) vape juice compared to tobacco smocking and are encouraged to use the product that increases cannabidiol (CBD) vape juice demand. Cannabidiol (CBD) vape juice is highly used in medicines to reduce anxiety and depression in humans.
The manufacturers engaged in producing the cannabidiol (CBD) vape juice products have a big distribution channel and are also trying to build more.
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Technological innovations in vaping
Since the beginning, the vaping industry has had regular innovations that allow manufacturers to launch or develop new products. Modern vaping technology now creates the smoothest vaping experiences with enhancements such as Bluetooth, voice activation, and better batteries. Product manufacturers and industry leaders have aimed to improve the vaping experience consistently.
Restraints/Challenges
- Health risks of e-cigarettes
E-cigarettes produce several dangerous chemicals harmful to the human body, including acetaldehyde, acrolein, and formaldehyde. These aldehydes can cause lung disease, as well as cardiovascular (heart) disease
E-cigarettes also contain acrolein, an herbicide primarily used to kill weeds. It can cause acute lung injury and chronic obstructive pulmonary disease (COPD). COPD is a chronic inflammatory lung disease that causes obstructed airflow from the lungs. Also, it may cause asthma and lung cancer.
Thus, the adverse effects of regular use of e-cigarettes may challenge the Europe cannabidiol (CBD) vape juice market.
- Stringent government regulations
Regulations that the government makes in the different regions have both positive and negative effects on the business. The increasing stringent rules will impact the production, and hence effect will be on manufacturers in the regions. The malpractices being practiced across the value chain, such as the black markets, decline the quality standards of cannabidiol (CBD) vape juice which activates the agencies and regulators to keep a strict eye on the illegal dealing of the products.
The cannabidiol (CBD) vape juice is extracted from the plant and used for drug production. There are strict codes of conduct set up by the government in several regions and countries, leading to lower cultivation of these plants as the CBD cultivation is under the higher authority and cannot be used easily to produce medicines.
For instance,
- The European Union (E.U.) has mentioned that the permission for the cultivation of certain cannabis varieties is granted provided only to the cultivators who are registered under the E.U.'s Common Catalogue of Varieties of Agricultural Plant Species and also have to follow the specified limit of the THC content which does not exceed 0.2% of the dried flowers of the plant in the fields.
Post COVID-19 Impact on Europe Cannabidiol (CBD) Vape Juice Market
Post the pandemic, the demand for cannabidiol (CBD) vape juice has increased as there won't be any more restrictions on movement, so the supply of products would be easy. In addition, the growing trend of trying new flavors for E-cigarettes, especially among the young population, will propel the growth of the market.
Recent Development
- In 2022, April JustCBD signed an agreement with distribution giant OTG management to sell CBD products in airports. This has helped the company distribute its product to a new customer base
Europe Cannabidiol (CBD) Vape Juice Market Scope
Europe cannabidiol (CBD) vape juice market is segmented into product type, source, flavor, strain, propylene glycol (VG) & vegetable glycerin (PG) ratio, category, dose, tests performed, packaging size, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type
- Full Spectrum Vape Juice
- Broad Spectrum Vape Juice
- CBD Isolate Vape Juice
Based on product type, the Europe cannabidiol (CBD) vape juice market is segmented into the full spectrum vape juice, broad spectrum vape juice, CBD isolate vape juice.
Source
- Hemp
- Marijuana
Based on source, the Europe cannabidiol (CBD) vape juice market is segmented into the hemp and marijuana.
Strain
- Indica
- Sativa
- Hybrid
Based on strain, the Europe cannabidiol (CBD) vape juice market is segmented into the indica, sativa and hybrid.
Propylene Glycol (VG) & Vegetable Glycerin (PG) Ratio
- 50/50 VG&PG Ratio
- 60/40 VG&PG Ratio
- 70/30 VG&PG ratio
Based on propylene glycol (VG) & vegetable glycerin (PG) ratio, the Europe cannabidiol (CBD) vape juice market is segmented into 50/50 VG&PG ratio, 60/40 VG&PG ratio, 70/30 VG&PG ratio.
Category
- THC Detectable
- THC Non-Detectable
- No THC
Based on category, the Europe cannabidiol (CBD) vape juice market is segmented into the THC detectable, THC non-detectable and no THC.
Dose
- High
- Medium
- Low
Based on dose, the Europe cannabidiol (CBD) vape Juice market is segmented into high, medium and low.
Flavor
- Flavoured
- Flavorless
Based on flavor, the Europe cannabidiol (CBD) vape juice market is segmented into the flavored and flavorless.
Tests Performed
- Tested For Potency
- Tested For Purity
Based on tests performed, the Europe cannabidiol (CBD) vape juice market is segmented into the tested for potency and tested for purity.
Packaging Size
- >30ML
- 30ML-60ML
- 60ML-100ML
- UPTO 1000ML
Based on packaging size, the Europe cannabidiol (CBD) vape juice market is segmented into the >30ML, 30ML-60ML, 60ML-100ML, UPTO 1000ML.
Distribution Channel
- Online
- Wellness & Natural Product Stores
- Medical Marijuana Dispensaries
Based on distribution channel, the Europe cannabidiol (CBD) vape juice market is segmented into the online, wellness & natural product stores, and medical marijuana dispensaries.
Europe Cannabidiol (CBD) Vape Juice Market Regional Analysis/Insights
Europe cannabidiol (CBD) vape juice market is analyzed, and market size insights and trends are provided by country, product type, source, flavor, strain, propylene glycol (VG) & vegetable glycerin (PG) ratio, category, dose, test performed, packaging size, and distribution channel as referenced above.
Some of the countries covered in the Europe cannabidiol (CBD) vape juice market are U.K., Switzerland, Germany, France, Poland, Turkey, Belgium, Italy, Portugal, Denmark and Rest of Europe.
The U.K. is expected to dominate the Europe cannabidiol (CBD) vape juice market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to a rise in product launches of various flavors by manufacturers to fulfill the demand of the consumer side.
The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and their challenges faced due to high competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Cannabidiol (CBD) Vape Juice Market Share Analysis
Europe cannabidiol (CBD) vape juice market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the Europe cannabidiol (CBD) vape juice market.
Some of the major players operating in the Europe cannabidiol (CBD) vape juice market are CBDfx, HempBombs, JustCBD, Le petit vapoteur, Vape Dinner Lady, Malaya Hemp, Marry Jane, Paso, among others.
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, GlobalVsRegional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.
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