CBD Gummies Market
CBD Gummies Market - Global Industry Assessment & Forecast
- By Concentration High, Low
- By Distribution Channel Online, Offline
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 1.4 Billion|
|Revenue 2028:||USD 6.8 Billion|
|Revenue CAGR (2021 - 2028):||30.2%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
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- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
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Global CBD Gummies Market is valued at USD 1.4 Billion in 2021 and is projected to reach a value of USD 6.8 Billion by 2028 at a CAGR of 30.2% over the forecast period.
CBD gummies are one of the most popular types of CBD products on the market. CBD gummies have been shown to provide a wide range of benefits, including relief from anxiety, pain, and inflammation. The CBD gummies market is growing rapidly due to the increasing demand for CBD products. The legalization of cannabis in many areas has also contributed to the growth of the CBD gummies market. More and more people are becoming aware of the therapeutic properties of CBD and are looking for ways to incorporate it into their lives.
There are a number of factors that are influencing the growth of the CBD gummies market. The following are some of the most important:
CBD Gummies Market Size, 2021 To 2028 (USD Billion)
- The increasing popularity of CBD: CBD is becoming more and more popular as people learn about its many potential health benefits. More people are using it to treat a wide variety of conditions, including anxiety, pain, inflammation, and sleep disorders. As more people use CBD, the demand for CBD products will continue to grow.
- The legal status of cannabis: Cannabis is now legal in many states across North America and Europe. This has led to an increase in the availability of CBD products. As more regions legalize cannabis, the demand for CBD products is expected to grow even further.
- The medical benefits of CBD: A growing body of research is beginning to reveal the many medical benefits of CBD.
However, one of the most important factors that could impact the market negatively is the regulatory environment. CBD is still a relatively new product, and it is not yet regulated by the FDA in several regions. This means that companies selling CBD products must be careful about making any medical claims about their products. If the FDA were to regulate CBD, it would likely have a positive effect on the growth of the CBD Gummies market.
Another factor that can affect the growth of the CBD Gummies market is consumer awareness. While more and more people are becoming aware of the potential health benefits of CBD, there is still a lack of education about this compound. This lack of education can prevent some people from trying CBD products, which in turn can limit the growth of this market. Finally, another factor that can affect the growth of the CBD gummies market is cost. CBD products are typically more expensive than other similar supplements on the market. This high cost can prevent some consumers from purchasing these products, which in turn can limit the growth of this market.
The CBD gummies market is still in its early developmental stages, which presents both opportunities and restraints for market participants. Additionally, regulatory hurdles associated with the use of CBD in food and beverage products are also restraining the growth of the CBD gummies market. But as consumers learn more about how CBD-based products can help them feel better, big opportunities are likely to open up for market players over the next few years. Moreover, favorable legislative policies regarding the use of CBD in food and beverage products are expected to provide a major boost to the growth of the CBD gummies market over the coming years.
Growth of the CBD gummies market after the pandemic COVID-19
As the world enters uncharted territory with the outbreak of the novel coronavirus (COVID-19), people are looking for ways to boost their immune systems and protect themselves from the disease. CBD gummies have emerged as a popular option, as they are a convenient and delicious way to consume CBD. CBD gummies have become a popular option for people looking for a natural way to improve their health. Cannabidiol (CBD) is a chemical component of marijuana. Unlike THC, the compound that gets people high, CBD does not have any psychoactive effects. Instead, it is thought to offer a range of health benefits, including reducing anxiety and pain, improving sleep, and boosting immunity. The popularity of CBD gummies has exploded in recent years, as more and more people learn about the potential health benefits of CBD. The COVID-19 pandemic has only increased interest in CBD gummies, as people look for ways to boost their immune systems and protect themselves from the virus.
Top Market Trends
There are a few key market trends that are currently driving the CBD gummies market.
● The first is the increasing legalization of cannabis and hemp products around the world. This is opening up new opportunities for companies to develop and sell CBD products, including gummies. The popularity of flavored CBD gummies is increasing as they offer a convenient way to consume CBD while masking its bitter taste.
● There is a growing trend of people taking multiple supplements to support their overall health and well-being. This includes taking vitamins, minerals, herbs, and other natural products in addition to CBD. People are looking for ways to boost their health from all angles, and CBD gummies are a convenient way to add CBD to their daily routine.
● One of the most interesting factors in the CBD Gummies market is the involvement of key players from different sectors. For example, the pharmaceutical company GW Pharmaceuticals has developed a CBD-based medication called Epidiolex, which is currently undergoing clinical trials. This shows that there is interest from traditional medicine in the potential of CBD.
● Similarly, major retailers such as CVS and Walgreens have started selling CBD products, which is another sign that this market is being taken seriously. These developments indicate that CBD Gummies are here to stay and that they have real potential to help people with a variety of health concerns.
The global CBD gummies market is segmented based on concentration, distribution channel, and region. Based on concentration, the market is classified into high and low. Based on the distribution channel, the market is segmented into online and offline. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Based on concentration
The high-concentration segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the therapeutic benefits offered by high-concentration CBD gummies, which are used for various conditions such as pain relief, anxiety, and insomnia. The low-concentration segment is expected to grow at a lower CAGR during the forecast period. This is due to the availability of a wide range of products with a low concentration of CBD in the market.
High-concentration CBD gummies are typically used for medical purposes, as they provide the highest amount of CBD per serving. Low-concentration CBD gummies are typically used for recreational purposes, as they provide a lower amount of CBD per serving. CBD gummies are available in a variety of concentrations, from low-potency options containing 5 or 10 milligrams of CBD per gummy to high-potency options with 50 or 100 milligrams of CBD per gummy.
The majority of the CBD gummies on the market fall into the recreational category. This is because CBD is not yet FDA-approved for medical use. However, there are a few companies that have been able to get FDA approval for their CBD products. These products are typically only available with a prescription from a physician. The recreational CBD gummies market is growing rapidly as more people learn about the benefits of CBD. Many people use these products to help with anxiety, stress, and insomnia. Some people also use them for pain relief. There are even some pet owners who are using CBD gummies to help their animals with anxiety and pain relief.
Based on distribution
Offline distribution dominated the market in 2021
Offline sales accounted for the majority of CBD gummy sales, with a greater share of the market at 75.6%. This is due to the increasing number of brick-and-mortar stores carrying CBD products and the growing awareness of CBD. Customers are more likely to shop at brick-and-mortar establishments since these businesses offer genuine and high-quality goods. CBD products are available for purchase by customers with valid prescriptions in retail pharmacies. Furthermore, many consumers prefer to purchase CBD products in person, to get advice from knowledgeable staff and ensure they are getting a quality product. In addition, offline retailers often offer a wider selection of CBD products than online stores.
Based on region
North America is expected to hold the largest market share in the CBD gummies market due to the increasing number of states legalizing the use of cannabis for medicinal and recreational purposes. In the year 2021, North America had the largest share, which was 62%. The US is currently the largest market for CBD gummies in North America. As long as the plants don't exceed a 0.3% THC concentration, industrial hemp was made lawful in the 2018 Farm Bill in the United States. Gummies containing cannabidiol (CBD) extracted from hemp are allowed in all 50 states. Over the projection period, these factors are expected to propel the demand for CBD gummies.
In the forecast period, it is anticipated that Europe would have the highest CAGR, at 31%. Europe is expected to be the second-largest market for CBD gummies due to the growing acceptance of natural and herbal products among consumers. This trend is also due to the increasing popularity of cannabis. While CBD products have legal status in the vast majority of European nations, a few notable outliers exist. The European Commission decided in January 2019 to reevaluate Novel Food criteria in order to further define CBD laws.
● In recent years, the CBD gummies market has seen a lot of advancements. CBD gummies are now available in a wide variety of flavors, colors, and shapes. You can also find CBD gummies that are infused with other ingredients such as vitamins, herbs, and even caffeine.
● The most recent advancement in the CBD gummies market is the introduction of CBD-infused gummies. These gummies are made with CBD isolate, which means they contain no THC. This makes them a great option for people who want the benefits of CBD without the psychoactive effects of THC.
● There are currently over 50 brands selling CBD gummies in the United States. Most CBD gummies contain between 5mg and 30mg of CBD per gummy. Government regulations surrounding CBD are constantly evolving, and this is opening up new opportunities for manufacturers of CBD products. This has created a booming market for CBD gummies and other CBD products.
● CBD oil is known to provide relief from anxiety, pain, and inflammation. It can also improve sleep and help to reduce stress levels.
● The report cites the legalization of cannabis as one of the key drivers for the growth of the CBD Gummies market. It notes that North America has been leading the way in terms of cannabis legalization, with Canada being the first country to legalize recreational cannabis use and sales. The United States is also following suit, with several states legalizing recreational and/or medicinal cannabis use. This changing legal landscape is expected to create opportunities for CBD Gummies manufacturers and sellers shortly.
The key players in the Global CBD Gummies market include- CV Sciences Inc. (US), Dixie Brands (US), Reliva CBD (US), Sunday Scaries (US), Green Roads (US), Medix CBD (US), Hemp Bombs (US), PureKana (US), Diamond CBD (US), Premium Jane (US) and others.
Segmentation of the Global CBD Gummies Market:
|Regions & Countries Covered||
|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|
Frequently Asked Question
What is the global demand for CBD Gummies in terms of revenue?
The global CBD Gummies valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 30.2%.
Which are the prominent players in the market?
The prominent players in the market are CV Sciences Inc. (US), Dixie Brands (US), Reliva CBD (US), Sunday Scaries (US), Green Roads (US), Medix CBD (US), Hemp Bombs (US), PureKana (US), Diamond CBD (US), Premium Jane (US).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 30.2% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the CBD Gummies include
- Growing Awareness Regarding Health Benefits of CBD
Which region accounted for the largest share in the market?
North America was the leading regional segment of the CBD Gummies in 2020.