SAN FRANCISCO, U.S., Aug. 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “CBD Gummies Market By Concentration (Low And High), By Distribution Channel (Online And Offline), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global CBD Gummies Market size was valued at around USD 2.5 billion in 2022. The market is expected to grow above a CAGR of 29.2% and is anticipated to reach over USD 19.4 billion by 2030.”
CBD Gummies Market Overview:
CBD candies are one form of cannabidiol-infused edibles. These are the dietary items that contain cannabidiol (CBD), a cannabinoid extracted from the cannabis plant. CBD chocolates are a tasty, convenient, and novel method of administration. In various gummies, there are three kinds of CBD: full-spectrum CBD, which includes all naturally occurring plant phytochemicals such as terpenes, cannabinoids, oils, and traces of THC; broad-spectrum CBD, which excludes THC; and CBD isolate, which is a purified form of CBD.
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Key Insights from Primary Research
- In terms of revenue, the global CBD gummies market size was valued at around USD 2.5 billion in 2022 and is projected to reach USD 19.4 billion, by 2030.
- The market for CBD gummies is expected to experience increased demand due to the rising use of cannabis for the treatment of psychiatric disorders, neurological disorders, cancer, and pain control.
- Based on the concentration, the low concentration CBD segment is expected to dominate the market over the forecast period.
- Based on the distribution channel, the offline segment is expected to capture the largest market share over the forecast period.
- Based on region, North America is expected to capture the largest market share during the forecast period.
The report contains qualitative and quantitative research on the global CBD Gummies market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global CBD Gummies market include;
- CHARLOTTE'S WEB
- CV Sciences Inc.
- Verma Farms
- Balance CBD
- Medterra CBD
- CBD Pure
- Kushie Bites
- Dixie Brands
- Premium Jane
- Diamond CBD
- Aurora Cannabis
- CBD American Shaman
- Sunday Scaries
- Medix CBD
- Hemp Bombs
- Reliva CBD
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CBD Gummies Market: Growth Drivers
- Increasing prevalence of chronic disorders drives market growth
The increasing prevalence of chronic diseases such as diabetes, neurodegenerative disorders, and others, as well as the efficacy of CBD products in treating these conditions, are the primary factors driving the growth of the global CBD gummies market. The Journal of Clinical Neurology reported in August 2021 that epilepsy, which affects approximately 70 million people worldwide, is the third most prevalent neurological disorder after dementia and stroke. According to the WHO, there will be over 55 million dementia patients worldwide by 2021, and nearly 10 million new cases each year. Alzheimer's disease is the most prevalent form of dementia, accounting for 60–70% of cases.
CBD Gummies Market: Restraints
- Adverse side effects impede the market growth
Executive function impairment and mood disorders are both associated with CBD oil consumption, which is prevalent in CBD gummies. Other transient adverse effects include vomiting, disorientation, paranoia, convulsions, and severe anxiety. In many cases, an overdose of CBD oil can result in death. Therefore, these factors inhibit the growth of the CBD gummy industry.
CBD Gummies Market: Segmentation Analysis
The global CBD gummies industry is segmented based on concentration, distribution channel, and region.
Based on the concentration, the global market is bifurcated into the low and high. The low concentration CBD segment is expected to dominate the market over the forecast period.
Besides, the high concentration segment is expected to grow at the highest CAGR during the forecast period. In the near future, the segment growth is expected to be fueled by consumers' growing knowledge of the benefits of marijuana edibles for the treatment of sleep disorders. These high-potency CBD gummies are consumed by customers who want an additional CBD boost.
Based on the distribution channel, the global CBD gummies industry is segmented into online and offline. The offline segment is expected to capture the largest market share over the forecast period.
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- North America will dominate the market during the forecast period
North America is expected to capture the largest share in the global CBD gummies market during the forecast period. The growth in the region is attributed to the legalization of cannabis for medical and recreational purposes. Industrial hemp can now be grown legally as long as plants have a THC concentration of no more than 0.3%, according to the Farm Bill of 2018. All 50 states in the nation have legalized CBD gummies, provided they are made from cannabis.
Europe is expected to grow at the fastest CAGR during the forecast period. This is a result of the growing acceptance of cannabis for both medicinal and recreational uses in the region, as well as growing investment in the cannabis industry in the region, which is driving up demand for CBD products in the region. On the other hand, the Asia Pacific is expected to grow at a moderate rate over the forecast period owing to the region's strict legal restrictions on the use of cannabis and CBD.
|Report Attribute||Report Details|
|Market Size in 2022||USD 2.5 Billion|
|Market Forecast in 2030||USD 19.4 Billion|
|Growth Rate||CAGR of 29.2%|
|Forecast Years||2023- 2030|
|Key Companies Covered||CHARLOTTE'S WEB, CV Sciences, Inc., Verma Farms, BAEYS, Balance CBD, Medterra CBD, CBDfx, CBD Pure, Kushie Bites, PureKana, Dixie Brands, Premium Jane, Diamond CBD, Aurora Cannabis, CBD American Shaman, Sunday Scaries, Medix CBD, SaintyCo, Hemp Bombs and Reliva CBD among others.|
|Segments Covered||By Concentration, By Distribution Channel, And By Region|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
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Recent Industry Developments:
- In December 2022, an innovative, instant delivery platform for customers' daily needs, Gopuff, and Medterra, a market leader in CBD products, announced a collaboration for the national distribution of their products.
- In October 2022, Infusionz, a fully owned subsidiary of Upexi, has been acquired by Bloomios, Inc., a prominent manufacturer and wholesaler of hemp-derived nutraceutical, cosmetic, and pet products. Infusionz's portfolio of CBD gummy brand names and clients, along with the order flow, product formulations, manufacturing processes, tools, and sales staff that go along with them, are all included in the acquisition.
- In March 2022, the collaboration between Puration, Inc. and PAO Group Inc. on a new line of CBD nutraceuticals under PURA's Farmersville hemp brand name has been verified.
The global CBD Gummies market is segmented as follows:
By Distribution Channel
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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FREQUENTLY ASKED QUESTIONS:
What are CBD gummies?
CBD gummies are one of the forms of cannabidiol edibles. These are the food products that contain the therapeutic compound called cannabidiol (CBD) which is from the hemp plant. CBD gummies are a tasty, easy, and distinct way to consume CBD. Various gummies use 3 variations of CBD which include full-spectrum CBD containing all the naturally occurring phytochemicals of plants such as terpenes, cannabinoids, oils, and some traces of THC; broad-spectrum CBD containing all phytochemicals except THC; and CBD isolate a pure form of CBD.
Which key factors will influence the CBD gummies market growth over 2023-2030?
The high concentration of CBD and very low or no concentration of THC in CBD gummies have resulted in attracting a huge population which is fostering the growth of the global CBD gummies market. Moreover, the rise in the legalization of the use of cannabis and CBD-infused products for medical purposes and the increasing use of CBD for the treatment of pain, depression, anxiety, & neurological disorders are the factors spurring the CBD gummies to demand, ultimately leading to the growth of the market.
What will be the value of the CBD gummies market during 2023-2030?
According to the report, the global market size was worth around USD 2.5 billion in 2022 and is predicted to grow to around USD 19.4 billion by 2030.
What will be the CAGR value of the CBD gummies market during 2023-2030?
The global CBD gummies market is expected to grow at a CAGR of 29.2% during the forecast period.
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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