CBD Products - Australia & Oceania

Australia & Oceania

In Australia & Oceania, the revenue in the CBD Products market is forecasted to reach US$176.90m in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of -2.09%, leading to a market volume of US$159.20m by 2029.
When compared globally, the United States is expected to generate the highest revenue (US$2,575.00m in 2024).
In terms of per capita income, US$22.90 is generated in 2024 in relation to the total population.
Australia's CBD market is experiencing a surge in innovative product offerings, reflecting the country's evolving regulatory landscape and growing consumer demand.

Key regions: Netherlands, Spain, United States, Europe, Australia

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Analyst Opinion

The CBD Products market in Australia & Oceania has been experiencing significant growth and development in recent years.

Customer preferences: Consumers in Australia and Oceania are increasingly turning to CBD products due to a growing awareness of their potential health benefits. The trend towards natural and alternative remedies has driven demand for CBD products across the region.

Trends in the market: In Australia, there has been a notable shift towards incorporating CBD into skincare and beauty products, with many local brands launching CBD-infused lines. This trend is driven by the popularity of natural and organic beauty products among Australian consumers.

Local special circumstances: Australia has seen a gradual relaxation of regulations surrounding CBD products, leading to increased availability and accessibility for consumers. This has created a more favorable environment for businesses looking to enter the CBD market in the country.

Underlying macroeconomic factors: The growing acceptance of CBD products in Australia and Oceania is also influenced by broader global trends towards cannabis legalization and the destigmatization of cannabis-derived products. This has helped to create a more supportive regulatory environment for CBD products in the region.

Methodology

Data coverage:

Data encompasses B2B and B2C enterprises. Figures are based on companies' revenues, funding values and global consumer survey data. Revenues include retail, sales and taxes.

Modeling approach / Market size:

Market sizes are determined by a Top-Down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use financial reports, third-party data. Next, we use relevant key market indicators and data from country-specific associations such as tobacco spending per capita, medical product spending per capita, consumer spending and consumer spending for recreation purposes, population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, S-Curve function, ARIMA time series model and exponential curve function.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. GCS data is reweighted for representativeness.