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Cannabidiol (CBD) Gummies Market Share, 2028 | Industry Report

CBD Gummies Market Analysis Report By Concentration, By Distribution Channel, By Region And Segment Forecasts From 2021 To 2028

Report ID: MN17620255  |  Published: July 2021  |  No of Pages: 70
Format: Electronic (PDF)  |  Industry: Food & Beverage  |  Publisher: Grand View Research

Synopsis

The global CBD gummies market was prized by USD 1.6 billion in 2020. It is estimated to witness a 30.7% CAGR from 2021 to 2028.

Drivers

As a result of their excellent neuroprotective, pain relief, anti-anxiety, and anti-depressant, possessions, CBD (Cannabidiol) gummies are getting an enormous reputation among the customers. These properties are estimated to stimulate the enlargement of the market for CBD gummies, during the forecast period.

In the global market, an extensive variety of medicines for pain relief are available like naproxen, acetaminophen, ibuprofen, and aspirin. Every one of these painkillers contains extremely severe side effects.

us-cbd-gummies-market

Conversely, these products are able to assist in decreasing the constant pain, by means of increasing endocannabinoid receptor action, dropping irritation, as well as performing jointly with neurotransmitters. Such types of fitness benefits are expected to intensify their demand, during the forecast period.

The rising stress between the working persons along with the students has caused a steady escalation in depression as well as nervousness, all over the world. Consistent with the figures presented in 2019, by the Anxiety and Depression Association of America (ADAA), nervousness is the majority widespread psychological sickness in the U.S., by over 40 million adults, having age 18 years and above, has an effect by this sickness, merely in the U.S. By way of the rising occurrence of depression as well as anxiety, the demand for CBD gummies is expected to obtain an enhancement, during the forecast period.

A growth in the corroboration of cannabis, intended for medicinal along with leisure reasons, is the main aspect behind the growing demand for CBD gummies. No indications of tetrahydrocannabinol (THC) substances, within the product, are anticipated to additionally impel the demand between those customers, concerns about the utilization of the product for the medicinal reason.

Effect of Covid-19

Globally, the citizens have concentrated on the prerequisites of everyday life, all through the Covid-19 pandemic. Besides, various governments, throughout the world, have placed limitations on sending overseas as well as bring in non-essential substances, like natural hemp and CBD. Therefore, the CBD gummies market has observed sluggish enlargement, throughout the world, for the period of the COVID-19 pandemic.

Concentration Insight

The low concentrated sector detained the principal, 90.2% share of the CBD gummies market, in 2020. It is projected to uphold its front position, during the forecast period. The buyers, using it for the first time, choose low concentrated CBD gummies, varying from 1mg to 20 mg CBD, for each gummy. The majority of the companies present low concentrated gummies holding 15mg, 10mg, and 5mg, CBD for every gummy.

High concentrated gummies are expected to record the highest, 34.7% CAGR, during the forecast period. The rising alertness between the customers about the compensations of marijuana nourishment, used as the therapy for the complaints regarding sleep, is expected to stimulate the expansion of the section, during the nearby prospect. In support of an additional enhancement of CBD, clients use up this high-strength CBD gummy.

It exists in a variety of tastes in the market. These products assist the persons to experience peace and calm down from their frantic routine, together with dropping nervousness and strain, in addition to improving their frame of mind.

Distribution Channel Insight

In 2020, the offline distribution channel sector held the major, 56.4% share of the CBD gummies market. It was the biggest sector and is anticipated to observe the highest development, during the forecast period. As a result of the closing of entire traditional stores, owing to the global pandemic, the general retailing by means of offline channels, significantly decreased.

global-cbd-gummies-market

Besides, there is a greater infiltration of head shops close to nearly all big cities, due to which the head shops benefit from large presented consumers, along with a trustworthy neighboring consumer base. The clients choose offline stores, to buy genuine as well as class products. Retail pharmacies supply CBD foodstuffs, by way of a precise recommendation.

The online distribution channel segment is estimated to record 17.2% CAGR, during the forecast period. The peaceful shopping practice, presented by Amazon as well as other online stages, is estimated to impel the expansion of the segment. The simple process of payment that matches the authoritarian values of the diverse nations has prepared the procedure very much easier. To contact additional customers, the main manufacturing companies of CBD gummies concentrate on online distribution channels.

Regional Insight

In 2020, North America held the biggest 62.0% share of the global CBD gummies market. The corroboration of cannabis for entertaining and medicinal reasons, in the U.S., is between the important factors, inspiring the market. The 2018 Farm Bill legally recognized the development of industrial hemp, provided that plants comprise the highest THC matter of 0.3%.

On the condition that they are resulting from hemp, CBD gummies are officially permitted in the entire 50 states, within the nation. These issues are anticipated to impel the demand for CBD gummies, during the forecast period.

Europe is estimated to record the highest 31.0% CAGR, during the forecast period. This is credited to the growth in the figure of cannabis customers. Here are a few exceptions, but CBD products are officially authorized in approximately every European nation. The European Commission determined to evaluate the Novel Food necessities, to simplify CBD rules, in January 2019.

Companies

The companies operating in this field confront severe contest, particularly from the topmost companies, since they comprise well-built respect for their trademark, a huge base of the customers, along with the vast delivery network plus they are incessantly increasing their attendance, through main markets.

The companies are putting into practice a variety of development plans, like the enlargement of manufacturing capability, mergers & acquisitions, and the presentation of the new products. This will increase the reasonable lead, above other companies.

Some of the companies for the CBD gummies market are:

    • Premium Jane
    • PureKana
    • Medix CBD
    • Sunday Scaries
    • Dixie Brands
    • Diamond CBD
    • Hemp Bombs
    • Green Roads
    • Relive CBD
    • CV Sciences, Inc.

 Report Scope

Report Attribute

Details

The market size value in 2021

USD 2.1 billion

The revenue forecast in 2028

USD 13.9 billion

Growth Rate

CAGR of 30.7% from 2021 to 2028

The base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Concentration, distribution channel, region

Regional scope

North America; Europe; RoW

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Australia

Key companies profiled

CV Sciences, Inc.; Dixie Brands; Relive CBD; Sunday Scaries; Green Roads; Medix CBD; Hemp Bombs; PureKana; Diamond CBD; Premium Jane

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global CBD gummies market report on the basis of concentration, distribution channel, and region:

• Concentration Outlook (Revenue, USD Million, 2016 - 2028)
    • High
    • Low

• Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • RoW
        • Australia

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