New York, US, Nov. 16, 2022 (GLOBE NEWSWIRE) -- CBD Gummies Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "CBD Gummies Market Information By Type, Flavor and Category, Distribution Channel, and Region – Forecast till 2028, the market is expected to grow at a CAGR of 30.7 % over the forecast period (2021-2028).
Market Scope:
CBD gummies are one of the most accessible forms of cannabidiol due to their small size, high level of flavor, and lack of aftertaste. Due to their delicious flavor and beneficial properties, they are quickly gaining in favor. CBD gummies are a type of chewy candy that contain cannabidiol (CBD), a compound found in hemp. Because of their sedative properties, they are often prescribed to those suffering from stress, pain, anxiety, depression, insomnia, and similar conditions. Additionally, CBD products, such as CBD gummies, are used to treat epilepsy. CBD gummies contain no psychotropic ingredients and do not cause dependency.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 13.9 Billion |
| CAGR | 30.7% |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Flavor and Category, By Distribution Channel, By Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing popularity of CBD products in health and wellness industry |
| The advent of e-commerce platforms |
Competitive Dynamics:
The major global companies playing a key role in the CBD Gummies market are :
- CHARLOTTE’S WEB (US)
- CV Sciences (US)
- Green Roads World (US)
- Medterra (US)
- Balanced Health Botanicals (US)
- Dixie Brands Inc (US)
- Medix Wellness LTD (US)
- Diamond CBD (US)
- Premium Jane (US)
- CBDfx (US)
Market USP:
Market Drivers
As a result of this booming industry, several new companies are producing their own versions of these tasty candies. Government policies that make it easier to produce hemp for industrial purposes are also contributing to the booming market. The global CBD gummies market is expanding due to the rising demand for CBD or cannabidiol products as well as the expanding acceptance of hemp farming. Stress and anxiety can be managed and insomnia can be treated with the help of these tasty gummies. Cannabidiol gummies are becoming increasingly popular as the number of people struggling with sleeplessness rises alongside the popularity of sedentary lifestyles. CBD gummies are in high demand due to their widespread recognition of the many health benefits they provide.
These gummies are available in a broad variety of fun shapes, yet they aren't addicting or bad tasting. Because of this, innovations in both gummy's composition and presentation, such as gluten-free gummies, are increasing demand. The worldwide CBD gummies market is expected to expand as a result of the efforts of governments all over the world to loosen up the rules around the approval process for cannabidiol products.
The demand for CBD gummies in the United States is expected to increase as a result of the policies outlined above. Many businesses are banking on CBD oil and gummies being as prevalent as fish oil or multivitamin gummies, prompting a dramatic shift in product positioning across global markets.
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Market Restraints
Cannabidiol industry expansion is stymied by the strict approval requirements imposed by regulators. Furthermore, there is less demand because fewer people know about the health benefits of cannabidiol. In nations where CBD-based edible goods are not yet illegal, the sector is in its infancy and few products have yet been introduced. The worldwide CBD gummies market is also being held back by the general public's negative view of hemp products.
COVID-19 Analysis:
The global market for CBD gummies was affected in a complicated way by the Covid-19 outbreak. Due to the temporary shutdown of Industrial units, CBD gummy output drastically decreased. Additionally, sales fell during that time because of people's reduced purchasing power. Also, the Global market's supply chain and distribution were impeded by restrictions on travel and the flow of commodities. However, the rise in health product knowledge has also fueled a desire for CBD gummies. Its popularity in relieving stress and putting an end to sleeplessness grew throughout this time.
Identifying Market Niche:
By Type
Approximately 52% of the gummy market is made up of the CBD isolate subsegment. The increasing need for CBD-only edibles has propelled them to the forefront. Besides CBD and THC, the full spectrum variety also includes additional cannabinoids found in the hemp plant. This means that the vast majority of buyers are avoiding the other two options.
By Flavor
CBD gummies with a berry flavoring seem to be the most popular all over the world. Many more people pick this type because of its delicious flavor and vibrant hues.
In terms of classification, traditional varieties now dominate the market, although vegan variants are quickly gaining ground. The demand for vegan-type gummies has skyrocketed as more people learn about the benefits of going vegan.
By Distribution Channel
The rapid expansion of online shopping has sped up the expansion of the non-store-based market. Rather than hunting for the things in physical places, one may just go online and find what they need. E-commerce companies' streamlined shipping options are luring more shoppers to the store less market.
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Regional Analysis:
The market for CBD gummies is massive, but the North American region dominates the rest of the world. The widespread acceptance and understanding of CBD gummies' health benefits are largely responsible for their meteoric rise to the top. The passage of the US farm bill in 2018 legalizing CBD products is a game-changer for the growth of the CBD sector in the region.
As more people in Europe learn about CBD and its benefits, the CBD gummy market in Europe has grown rapidly in recent years. Higher demand is seen in this area because of the increased number of health-conscious consumers.
As more people in Asia and Oceania learn about these items, demand is rising in the region. The cannabidiol gummies industry in this region is expected to expand as a result of loosening prohibitions and rising consumer interest in the product. As in other regions, the Middle Eastern and Latin American markets are growing rapidly. Over the foreseeable future, the African market segment is anticipated to expand at a mediocre rate.
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