IMARC Group, a leading market research company, has recently releases report titled “CBD Gummies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global CBD gummies market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the CBD Gummies Market?
The global CBD gummies market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.0 Billion by 2028, exhibiting a growth rate (CAGR) of 27.3% during 2023-2028.
What are CBD Gummies?
CBD gummies refer to edible candies that contain cannabidiol (CBD) oil derived from the hemp plant. They are available in various shapes, colors, and flavors. CBD gummies are manufactured by extracting CBD and then mixing it with other ingredients such as gelatin, sugar, and natural or artificial flavorings to create a palatable gummy candy. They are used for a variety of applications, including pain management, anxiety relief, sleep improvement, inflammation reduction, seizure mitigation, and promoting overall wellness. CBD gummies are known for their easy dosing, convenience, discreetness, lack of psychoactive effects, and pleasant taste. In addition, they offer multiple advantages, such as long-lasting effects, non-addictive nature, and availability in different potencies to suit individual needs.
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What are the Growth Prospects and Trends in the CBD Gummies Market?
The growing demand for CBD gummies, owing to the increasing awareness and acceptance of cannabidiol's health benefits, is driving the market growth. Additionally, the introduction of favorable regulation for hemp-derived products in various countries, making it easier for companies to manufacture and sell CBD gummies, is fueling the market growth. Besides this, the growing prevalence of chronic pain, anxiety, and sleep disorders, leading more people to seek alternative treatments like CBD gummies, is contributing to the market growth. Furthermore, the heightened convenience and discreteness of CBD gummies, which makes them an attractive option for consumers, is supporting the market growth. In addition, the expanding product range, with different flavors and potencies, catering to a broader audience, is positively influencing the market growth. Apart from this, the rising popularity of online sales channels, making it easier for consumers to access CBD gummies, is catalyzing the market growth. Moreover, the increasing number of partnerships between CBD brands and retail chains, which is expanding the product's reach, is strengthening the market growth. Along with this, ongoing research and development (R&D) activities, leading to the introduction of new and innovative products, are driving the market growth.
Who are the Key Players Operating in the CBD Gummies Industry?
The competitive landscape of the industry has also been examined with some of the key players.
- CBD American Shaman LLC
- CV Sciences, Diamond CBD Limited
- Dixie Brands Inc.
- Green Roads CBD
- Hemp Bombs, Medix CBD
- Premium Jane
- Pure Kana
- Reliva CBD Wellness
- Sunday Scaries.
What is Included in Market Segmentation?
The report has categorized the market based on concentration, packaging and distribution channel.
Breakup by Concentration:
- High Concentration
- Low Concentration
Breakup by Packaging:
- Pouches
- Bottles
- Jars
- Cans
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Head Shops
- Smoke Shops
- Local Health Stores
- Online
- Others
Regional Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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