CBD Products - Romania

Romania

Revenue in the CBD Products is projected to reach US$35.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.06%, resulting in a market volume of US$39.44m by 2029.
In global comparison, most revenue will be generated in the United States (US$2,575.00m in 2024).
In relation to total population figures, per person revenues of US$24.50 are generated in 2024.

Key regions: South Africa, Spain, Canada, Europe, Netherlands

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Analyst Opinion

The CBD Products market in Romania has been experiencing significant growth in recent years, reflecting a global trend towards increased acceptance and usage of CBD products.

Customer preferences: Consumers in Romania are showing a growing interest in CBD products due to their perceived health and wellness benefits. The shift towards natural and organic products is driving demand for CBD-infused items such as oils, creams, and edibles. Additionally, the increasing awareness of the potential therapeutic properties of CBD is attracting a wider customer base, including those looking for alternative remedies for various health conditions.

Trends in the market: One notable trend in the Romanian CBD market is the diversification of product offerings. Companies are introducing a wide range of CBD products to cater to different consumer preferences and needs. From skincare products to pet treats, the market is expanding to meet the evolving demands of customers. Moreover, there is a growing emphasis on product quality and transparency, with consumers seeking high-quality CBD items that are tested for potency and purity.

Local special circumstances: Romania's geographical location and climate provide ideal conditions for hemp cultivation, which is a key factor driving the growth of the CBD market in the country. With a long history of hemp cultivation, Romania has a well-established supply chain for CBD production, ensuring a steady availability of raw materials for manufacturers. This local advantage contributes to the competitiveness of Romanian CBD products in the market.

Underlying macroeconomic factors: The overall economic stability and increasing disposable income in Romania are supporting the growth of the CBD market. As consumers have more purchasing power, they are willing to spend on premium CBD products that offer health benefits. Furthermore, the regulatory environment surrounding CBD products in Romania is becoming more favorable, facilitating market expansion and encouraging new players to enter the industry.

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.