The European CBD oil market offers diverse applications with unique advantages. CBD is used in health and wellness products, providing natural remedies for pain, stress, and overall well-being, while its use in cosmetics and skin care products is valued for its potential anti-inflammatory and antioxidant properties. CBD provides a convenient way to experience relaxation and stress reduction in food and beverages, while pharmaceutical applications explore its efficacy with fewer side effects. CBD also benefits pets, industrial uses, and research and development for potential medical breakthroughs. With a focus on sustainability and a wide range of applications, the European CBD oil market is positioned for growth and innovation in pursuing holistic health and wellness.
According to Data Bridge Market Research analyses the Europe CBD Oil Market, was USD 16,251,241.15 million in 2022 and 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.
"Rapid increase in health benefits boosts the market growth"
The European CBD oil market is experiencing substantial growth due to the recognition of CBD oil's therapeutic benefits, particularly in addressing intractable pain and anxiety, which have become prevalent issues amidst rising stress levels. The recreational aspects of the marijuana plant, from which CBD oil is derived, contribute to the overall appeal and quality of CBD oil. The versatility in product formulations, including CBD gummies, capsules, and sprays, caters to diverse consumer preferences. CBD oil's use in medicinal applications further solidifies its market potential, making it a sought-after solution for various health concerns in Europe.
What restraints the growth of the Europe CBD oil market?
“Side-effects associated with the market growth”
In the European CBD oil market, the excessive usage of CBD oils raises concerns about potential side effects, serving as a significant restraint on its growth. The exacerbation of Parkinson's disease by CBD oil has led medical professionals to discourage its use, hindering market expansion. The interaction of CBD oil with other medications can result in potent side effects, including blood thinning, lower blood pressure, and increased risk of heart disease. Common side effects such as nausea, dizziness, vomiting, and digestive issues further raise concerns. Some individuals may struggle to digest CBD oil-containing supplements, exacerbating these side effects and impacting the market's potential for growth.
Segmentation: Europe CBD Oil Market
The Europe CBD oil market is segmented based on type, product type, product category, and application.
- 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 unflavored, flavored
- On the basis of application, the Europe CBD oil market is segmented into food and beverages, personal care/ cosmetics, pharma and nutraceuticals, industrial application.
- On the basis of distribution channel, the Europe CBD oil market is segmented into direct, indirect
Regional Insights: France is expected to dominate the Europe CBD Oil Market
France is expected to dominate the CBD oil market due to a surging demand for CBD products within the country. Manufacturers are shifting their focus towards supplying the ingredients needed for CBD oil products due to increasing consumer awareness, a supportive legal framework, and a growing trend toward health and wellness.
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Recent Developments in Europe CBD Oil Market
- In June 2020, Diamond CBD introduced a range of CBD oil products, encompassing CBD Oil with hemp seed oil, full spectrum CBD MCT oils, CBD Oil with olive oil, and CBD Oil honey tinctures. This significant product expansion diversified the company's CBD oil offerings and contributed to a notable boost in their revenue
- In March 2019, Aurora Cannabis and its wholly-owned subsidiary, CanniMed Therapeutics, made a notable announcement. They unveiled the implementation of product information numbers (PINs) for their extensive portfolio of 78 medical cannabis products. This innovative approach aimed to streamline the tracking and facilitating insurance coverage for their patients in Canada. The medical cannabis products that received these PINs included topical oils, dried flowers, soft gels, and capsules
The Prominent Key Players Operating in the Europe CBD Oil Market Include:
- Aurora Cannabis (Canada)
- Diamond CBD (U.S.)
- ENDOCA (U.S.)
- APHRIA Inc. (Canada)
- ConnOils LLC (U.S.)
- Elixinol Europe Limited (Australia)
- Emblem CANNABIS (France)
- NuLeaf Naturals, LLC (U.S.)
- CBD Ultra Limited (U.K.)
- The Original Alternative (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of Europe CBD oil market companies contact, https://www.databridgemarketresearch.com/ru/contact
Research Methodology: Europe CBD Oil Market
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 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, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
