The Europe CBD products market has witnessed substantial growth over the last few years and is projected to reach USD 880.56 million by the end of 2028, registering a CAGR of 9.74% during the forecast period, 2021–2028. Few significant reasons for the growth of the Europe CBD products market are growing incidences of chronic diseases and related health issues among consumers, followed by the gradual legalization of cannabinoid (CBD) across Europe. Moreover, megatrends and technological advancements in the production process and increasing R&D on cannabinoids have provided the market players an opportunity to flourish in the Europe CBD products market. However, adverse health effects associated with the consumption of cannabis are expected to hinder market growth in the next few years.
The Europe CBD products market is expected to record a CAGR of 9.74% during the forecast period. The rising prevalence of chronic diseases and related complications are the key factors driving the growth of the Europe CBD products market. The legalization of cannabinoid (CBD) in Europe is another factor contributing to the growth of the CBD products market. Moreover, megatrends and technological advancements and increasing R&D in cannabinoid Ayurveda are likely to create an opportunistic market for the players to grow and expand. However, adverse effects associated with cannabis among CBD products manufacturers create a challenging situation for the players in the Europe CBD products market.

Market Segmentation

Based on type, the Europe CBD products market has been segmented into CBD oil, CBD buds, and others. The CBD oil segment accounted for the largest market share of 81.17% in 2020.
Based on application, the Europe CBD products market has been segmented into cosmetics and medical purpose. The medical purpose segment accounted for a larger market share of 73.25% in 2020.

Regional Analysis

Europe CBD products market has been segmented, based on country, into UK, Germany, France, Spain, Italy, Switzerland, Austria, Poland, and the Rest of Europe.
Germany accounted for the largest market share of 25.07% in 2020, with a market value of USD 105.19 million; the market is expected to register a CAGR of 9.90%. The UK was the second-largest market in 2020, valued at USD 97.68 million; the market is projected to exhibit a CAGR of 9.49%. However, the market in Rest of Europe is expected to register the highest CAGR of 10.65% during the forecast period.

Major Players

The key players operating in the Europe CBD products market include CV Sciences, Inc. (US), Hempire Gardens (Spain), Essentia Pura d.o.o. (Slovenia), Cannactiva SCP (Spain), Ilesol Pharmaceuticals d.o.o. (Republic of Croatia), Hempifarm (Netherlands), Sequoia Cannabis Ltd. (Poland), Candropharm BV (Netherlands), Grünkraft AG (Switzerland) and Widora International Srl (Italy) and the market also comprises several local players.

COVID 19 Impacts

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