IMARC Group, a leading market research company, has released a report titled “Europe CBD Oil Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The Europe CBD oil market is expected to exhibit a growth rate (CAGR) of 20.9% during 2023-2028.
Cannabidiol (CBD) is a naturally occurring, non-psychoactive compound extracted from the leaves, flowers, and resin of the cannabis plant, such as marijuana or hemp. CBD oil is produced by extracting CBD from the plant and mixing it with a carrier oil like hemp seed or coconut oil. It is obtained from the plants by crushing the seeds or plants. When CBD oil is applied to the skin, it interacts with the neuroreceptors in the endocannabinoid system, which sends signals between cells to regulate movement, mood, immune system, and homeostasis. It possesses anti-inflammatory properties, acts as a sleep aid, and helps reduce anxiety. It is also used in the pharmaceutical industry as it decreases body pain. In addition, it can lower the frequency of seizures and work by stimulating the CBI receptors in the amygdala in the brain. Since CBD does not have psychoactive effects, the oil is used for several medicinal purposes, such as relieving pain, improving heart health, reducing depression, treating acne, and alleviating cancer-related symptoms. As a result, CBD oil finds extensive applications in treating specific epilepsy syndromes, symptoms of PTSD, and addiction to opioids across Europe.
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Europe CBD Oil Market Trends and Drivers:
The Europe CBD oil market is primarily driven by the increasing legalization of cannabidiol across the region. Moreover, the rising prevalence of various neurological and psychiatric disorders has augmented the demand for CBD oil to treat insomnia, anxiety, stress, and seizures. Additionally, the widespread use of CBD oil-infused supplements in cancer treatment to alleviate the adverse health effects of chemotherapy, including inflammation, nausea, insomnia, and weight loss, is positively influencing the market growth. Apart from this, the surging adoption of CBD oil owing to its high content of iron, protein, fiber, and zinc is propelling the market growth. Along with this, the rising use of CBD oil in the cosmetics and personal care sectors due to its antioxidation, anti-aging, and anti-inflammatory properties has catalyzed market growth. Furthermore, heavy investments by private and government organizations in ongoing research and development (R&D) activities for cannabinoids are contributing to market growth. Besides this, numerous technological advancements to minimize production expenses and wastage and rapid industrialization have accelerated the product adoption rate. Other factors, including the significant growth in the pharmaceutical industry, increasing use of bioactive ingredients in drugs, rising internet penetration rates, rising product development & commercialization, and implementation of favorable government policies regarding the application of cannabis-related products, are also anticipated to drive the market further.
Europe CBD Oil Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Aurora Cannabis
- Diamond CBD Inc.
- ENDOCA
- APHRIA Inc.
- ConnOils LLC
- Elixinol Global Limited
- Emblem CANNABIS
- NuLeaf Naturals
- LLC
- CBD Ultra Limited
- The Original Alternative Limited.
The report has segmented the market on the basis on region, disc type, material type and end user.
Breakup by Source:
- Marijuana Based
- Hemp Based
Breakup by Product Type:
- Inorganic
- Organic
Breakup by Product Category:
- Flavoured
- Unflavoured
Breakup by Application:
- Food and Beverages
- Personal Care
- Healthcare
- Nutraceuticals
- Others
Breakup by Distribution Channel:
- Direct
- Indirect
Breakup by Country:
- Germany
- Spain
- Italy
- France
- United Kingdom
- Russia
- Rest of Europe
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