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U.k. Cannabidiol Market

U.K. Cannabidiol Market

U.K. Cannabidiol Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

180

Base Year:

2023

Date

Jun - 2024

Format:

PDF XLS PPT

Report Code:

VMR-2529

Segments Covered
  • By Product By Product Oil, Tinctures, Suppository, Transdermal Patches, Isolates, Tablet, Capsules, Vape Oil, Creams and Roll-on, CBD Inhalers, Others
  • By Application By Application Skincare, Femcare (PMS/cramps), Mental Wellness, Disease Prevention, Sleep/Insomnia, Joint Pain & Inflammation, Chronic Pain, Neurological Conditions, Others
  • By Route of Administration By Route of Administration Oral, Topical, Inhalation, Rectal, Transdermal Patches, Sublingual
  • By Source By Source Hemp, Marijuana
  • By Distribution Channel By Distribution Channel Hospital Pharmacies, Retail Stores, Online Pharmacies
  • By Gender By Gender Men, Women
  • By Age By Age Baby Boomers (Above 55), Generation X (39 to 54), Millennials (23 to 38), Generation Z (Less than 23)
  • By Wellness Products/Services By Wellness Products/Services CBD Oil, CBD Capsules, CBD Spa Treatments, CBD-infused Beverages, Others
Snapshot
Base YearBase Year: 2023
Forecast YearsForecast Years: 2024 - 2030
Historical YearsHistorical Years: 2018 - 2022
Revenue 2023Revenue 2023: USD 1355.6 Million
Revenue 2030Revenue 2030: USD 5066.7 Million
Revenue CAGRRevenue CAGR (2024 - 2030): 24.58%
Fastest Growing Region Fastest Growing Region (2024 - 2030) NA
Largest Region Largest Region (2023): NA
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
U.K. Cannabidiol Market Share

The U.K. Cannabidiol Market is valued at USD 1355.6 Million in 2023 and is projected to reach a value of USD 5066.7 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 24.58% between 2024 and 2030.

Key Highlights:

  • The Oil segment significantly contributed to the market’s expansion, constituting over 23.3% of the overall revenue share in 2023
  • The Oral segment significantly contributed to the market’s expansion, constituting over 51.4% of the overall revenue share in 2023
  • The Marijuana segment significantly contributed to the market’s expansion, constituting over 61.8% of the overall revenue share in 2023
  • The Women segment significantly contributed to the market’s expansion, constituting over 60.4% of the overall revenue share in 2023
  • The Millennials (23 to 38) segment significantly contributed to the market’s expansion, constituting over 33.2% of the overall revenue share in 2023
  • With the advancement of technology, immense changes are opted for business strategies by manufacturers of the Cannabidiol. The development of global competition, technology, and advertising industry have made maintenance, pricing and promotion strategies for the product more complicated.
  • In 2023, the Chronic pain U.K. Cannabidiol segment dominated the market with around 23.09% share.
  • In 2023, the Online Pharmacies U.K. Cannabidiol segment dominated the market with around 39.4% share.
  • In 2023, the CBD Oil U.K. Cannabidiol segment dominated the market with around 51.8% share.

U.K. Cannabidiol Market Size, 2023 To 2030 (USD Million)

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Market Overview

The demand for Cannabidiol (CBD) in the United Kingdom has experienced a significant surge in recent years, fueled by both supportive government initiatives and notable company developments. The UK government has taken proactive measures to facilitate the growth of the CBD industry, recognizing its potential benefits and economic opportunities. The supportive regulatory framework has paved the way for numerous companies to enter the CBD market and cater to the increasing demand. Companies have invested in research, product development, and marketing to offer a wide range of CBD-infused products, including oils, capsules, topicals, and edibles. This diverse product availability has contributed to the growing popularity of CBD among consumers in the UK. Thus, the combination of supportive government initiatives and company developments has created a thriving CBD market in the UK. As consumer awareness and acceptance of CBD continues to grow, the demand for these products is expected to further increase, presenting opportunities for continued industry expansion and economic growth.

Product Overview

In 2023, the Oil dominated the market with a 23.3% share and a market CAGR of 19.7% in the forecast period. The Product segment is separated into Oil, Tinctures, Suppository, Transdermal patches, Isolates, Tablet, Capsules, Vape oil, Creams and Roll-on, CBD Inhalers, and Others Products. Oil is among the most popular products in the Cannabidiol (CBD) market. It is a concentrated extract derived from the cannabis plant that contains high levels of cannabidiol, a non-psychoactive compound with potential health benefits. Furthermore, in May 2023, A group of prominent hemp leaders in Europe made a proposal to recognize natural CBD as a traditional food. The submission focused on a natural hemp product that contains a 5% full plant extract of CBD oil, obtained through a traditional pressing method that uses a traditional solvent like alcohol or carbon dioxide. CBD oil is also known for its potential health benefits, which include reducing anxiety and depression, alleviating pain and inflammation, improving sleep quality, and potentially even treating conditions such as epilepsy and multiple sclerosis.

Application Overview

In 2023, the Chronic pain dominated the market with a 23.09% share and a market CAGR of 19.8% in the forecast period. The Application segment is separated into Skincare, Femcare, Mental wellness, Disease prevention, sleep/Insomnia, Joint pain & inflammation, Chronic pain, Neurological conditions, and Others Application. Chronic pain is a medical condition affecting millions of people worldwide. It is characterized by persistent pain lasting more than 12 weeks despite medication or treatment. The use of cannabidiol (CBD) for chronic pain relief has gained popularity in recent years due to its potential therapeutic effects. CBD has been found to interact with the body's endocannabinoid system, which plays a important role in pain regulation. Studies have shown that CBD may help decrease inflammation, a common cause of chronic pain. In addition, CBD may help alleviate neuropathic pain caused by nerve damage.

Route of Administration Overview

In 2023, the Oral dominated the market with a 51.4% share and a market CAGR of 20.4% in the forecast period. The Route of Administration segment is separated into Oral, Topical, Inhalation, Rectal, Transdermal patches, and Sublingual. The oral route of administration in the cannabidiol market involves taking CBD orally, typically in the form of capsules, edibles, or tinctures that are ingested and absorbed through the digestive system. This route is one of the most common ways people take CBD, as it is easy to use and offers a convenient and discreet method of consumption. For instance, in January 2022, The Sweet Botanist range of gum and hard-boiled sweets have been developed over the last two years by experts at World of Sweets. The range contains cannabidiol (CBD) compounds, a naturally occurring substance extracted from hemp plants.

Source Overview

In 2023, the Marijuana dominated the market with a 61.8% share and a market CAGR of 20.3% in the forecast period. The Source segment is separated into Hemp and Marijuana. In the Cannabidiol market, marijuana is often used to extract CBD and other compounds, such as THC, to create full-spectrum CBD products. The use of marijuana in the Cannabidiol market is highly regulated, as many countries have strict laws regarding the cultivation, distribution, and use of marijuana. In some countries, such as Canada and some states in the United States, marijuana has been legalized for medicinal and recreational use, leading to a growing market for marijuana-derived CBD products. However, in other countries, marijuana remains illegal, and marijuana-derived CBD products are strictly prohibited.

Distribution Channel Overview

In 2023, the Online Pharmacies dominated the market with a 39.4% share and a market CAGR of 22.9% in the forecast period. The Distribution Channel segment is separated into Hospital Pharmacies, Retail Stores, and Online pharmacies. Online pharmacies are becoming an increasingly popular distribution channel for CBD products in the cannabidiol market. Online pharmacies allow consumers to purchase CBD products suitably from the comfort of their homes and often provide a wider selection of products than brick-and-mortar pharmacies. For instance, in March 2023, Kanabo Group announced the launch of Treat It, the U.K.'s first online medical cannabis clinic for pain management. Treat It solves the problem of millions of chronic pain sufferers in the U.K. whose conventional pharmaceutical treatments are not working or are frustrated by long wait times to be referred for treatment.

Gender Overview

In 2023, the Women dominated the market with a 60.4% share and a market CAGR of 20.3% in the forecast period. The Gender segment is separated into Men and Women. CBD has gained popularity among women due to its potential health benefits and use in managing various conditions such as anxiety, menstrual cramps, and chronic pain. In terms of product preference, women tend to prefer CBD topicals such as creams, balms, and lotions for skin care and pain relief. They also prefer CBD-infused beverages and edibles such as gummies and chocolates. CBD capsules and tinctures are also popular among women for their ease of use and convenience.

Age Overview

In 2023, the Millennials(23 to 38) dominated the market with a 33.2% share and a market CAGR of 19.7% in the forecast period. The Age segment is separated into Baby Boomers(Above 55), Generation X(39 to 56), Millennials(23 to 38), Generation Z( Less than 23). Millennials are known to be interested in the potential health benefits of CBD and are more likely to use it than previous generations. They are also more likely to consume CBD in nontraditional forms such as edibles, drinks, and vaping. A recent survey conducted by YouGov in the U.K. found that millennials are more likely than other age groups to have tried CBD products, with 28% of those aged 25 to 34 having used CBD, compared to just 8% of those aged 55 and over. The survey also found that the most common reasons for using CBD among millennials were to help with anxiety and stress and improve sleep and overall wellness .

Wellness Product/Services Overview

In 2023, the CBD Oil dominated the market with a 51.8% share and a market CAGR of 29.1% in the forecast period. The Wellness Product/Services segment is separated CBD Oil, CBD Capsules, CBD Spa treatments, CBD-infused beverages, and Others. CBD oil is a popular product in the cannabidiol market derived from the hemp plant and known for its potential health benefits. It is used for various applications, such as pain relief, anxiety reduction, and anti-inflammatory effects. CBD-infused beverages is forecast fastest growing segment. CBD-infused beverages are becoming increasingly popular as consumers seek new and innovative ways to consume CBD. Compared to traditional CBD oil tinctures or capsules, these products are seen as a more convenient and discreet way to incorporate CBD into one's daily routine.

Key Trends

  • In 2023, Oil had a major share and is estimated to witness its dominance during the forecast period.
  • In 2023, the Oral category had a major share, whereas the topical category is estimated to witness the fastest growth in the coming years.
  • In 2023, the marijuana category had a major share and is estimatedd to continue its dominance during the forecast period. Besides, Hemp to witness lucrative growth.

Premium Insights

The development of global competition, technology, and advertising industry have made maintenance, pricing and promotion strategies for the product more complicated. Concerning these challenges, the importance of the marketing channel, as a strategic tool, has rapidly grown. CBD in the UK can be obtained from industrial hemp as long as the presence of THC in the plant is less than 0.2%. The European Food Safety Authority (EFSA), through the corresponding, Agency for Consumer Affairs, Food Safety and Nutrition (AECOSAN), have withdrawn from the market all those products classified as food supplements that contain CBD until they are duly regulated. This is because CBD can only be used legally as a cosmetic product for topical use.

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Market Dynamics

Increased consumer awareness and acceptance

The increased consumer awareness and acceptance of CBD products have been significant drivers for the growth of the CBD market in recent years. This is partly due to the growing body of scientific research on the potential health benefits of CBD, as well as increased media coverage and advocacy by various groups. Consumers increasingly turn to CBD products for various reasons, including pain relief, anxiety reduction, and sleep improvement. The non-psychoactive nature of CBD, which means it does not produce the high associated with marijuana use, has also helped to increase acceptance among a wider range of consumers.

In addition, the ease of access to CBD products has also contributed to its growing popularity. CBD products are available in many forms, including oils, tinctures, edibles, topicals, and more, and can be purchased online, at dispensaries, and even in some grocery stores and pharmacies. Thus, the increased awareness and acceptance of CBD products have helped drive demand for the CBD market, with consumers seeking natural alternatives to traditional pharmaceuticals for

various health concerns. As more people continue to discover the potential benefits of CBD, the market is expected to grow in the coming years.

Health and wellness trends

Consumers are increasingly turning to natural and alternative remedies to improve their health and wellness, and CBD products have emerged as a popular option. Consumers are drawn to CBD beverages for various reasons, including their potential health benefits and ability to help reduce stress and anxiety. CBD-infused drinks are a healthier alternative to traditional sugary sodas and energy drinks. Another example of the health and wellness trend driving demand for CBD products is the growing popularity of CBD topicals. These products applied directly to the skin, are believed to help with various skin conditions, including acne, eczema, and psoriasis. Thus, the health and wellness trend is a significant driver for the CBD market, with consumers seeking natural and alternative remedies to improve their health and well -being. As this trend continues to grow, the demand for CBD products will continue to rise.

Competitive Landscape

CBD regulations are becoming more common across all countries as the general demand for the product increases and authorities seek to protect consumers from unregulated and unsafe supplies. CBD products should be manufactured in GMP compliant facilities to ensure tight quality control. The key companies are Eastern Spectrum Group, Salus Bioceutical, Thc Thailand Group Ltd., Bedrocan, DEMECAN, BATHERA, and others. CBD products in some European countries are available from tobacco shops, vape stores, and traditional supplement stores like UK-based Holland and Barrett. These products are also in convenience stores, supermarkets, and online retailers, including Amazon. For Instance, Following this decision, the European Commission has noted in a recent press briefing that cannabidiol should not be considered as a drug within the meaning of the United Nations Single Convention on Narcotic Drugs of 1961 and cannabidiol can be qualified as food, provided that the other conditions of the EU Food Safety Regulation are also met.

Also available Global Cannabidiol Market Research Full Study Report:

https://www.vantagemarketresearch.com/industry-report/cannabidiol-cbd-market-1252

Recent Developments

  • In December 2022, The only independently owned and vertically integrated cannabis business in Germany, DEMECAN, has completed its most recent investment round. In 2022, the company raised a total of 15 million euros through loans and stock funding.

The U.K. Cannabidiol market can be categorized as Product, Application, Route of administration, Source, Distribution Channel, Gender, Age, and Wellness Products/Services.

Parameter Details
Segments Covered

By Product

  • Oil
  • Tinctures
  • Suppository
  • Transdermal Patches
  • Isolates
  • Tablet
  • Capsules
  • Vape Oil
  • Creams and Roll-on
  • CBD Inhalers
  • Others

By Application

  • Skincare
  • Femcare (PMS/cramps)
  • Mental Wellness
  • Disease Prevention
  • Sleep/Insomnia
  • Joint Pain & Inflammation
  • Chronic Pain
  • Neurological Conditions
  • Others

By Route of Administration

  • Oral
  • Topical
  • Inhalation
  • Rectal
  • Transdermal Patches
  • Sublingual

By Source

  • Hemp
  • Marijuana

By Distribution Channel

  • Hospital Pharmacies
  • Retail Stores
  • Online Pharmacies

By Gender

  • Men
  • Women

By Age

  • Baby Boomers (Above 55)
  • Generation X (39 to 54)
  • Millennials (23 to 38)
  • Generation Z (Less than 23)

By Wellness Products/Services

  • CBD Oil
  • CBD Capsules
  • CBD Spa Treatments
  • CBD-infused Beverages
  • Others

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • WEECO Pharma GmbH
  • Bedrocan
  • SOMAÍ Pharmaceuticals
  • Little Green Pharma
  • DEMECAN
  • HAPA Pharm
  • The Cronos group
  • Pharmahemp
  • Medipharm labs
  • Herb treasurer
  • Elixinol
  • Salus bioceutical
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global U.K. Cannabidiol valued at USD 1355.6 Million in 2023 and is expected to reach USD 5066.7 Million in 2030 growing at a CAGR of 24.58%.

  • The prominent players in the market are WEECO Pharma GmbH, Bedrocan, SOMAÍ Pharmaceuticals, Little Green Pharma, DEMECAN, HAPA Pharm, The Cronos group, Pharmahemp, Medipharm labs, Herb treasurer, Elixinol, Salus bioceutical.

  • The market is project to grow at a CAGR of 24.58% between 2024 and 2030.

  • The driving factors of the U.K. Cannabidiol include

    • Increased consumer awareness and acceptance

  • NA was the leading regional segment of the U.K. Cannabidiol in 2023.