New York, Jan. 31, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “CBD Gummies Market Size, Share, Growth, Trends and Global Forecast to 2028 – COVID-19 Impact and Global Analysis By Category (Sugar-Free and Conventional) and Distribution Channel (Specialty Stores, Online Retail, and Others)”; the global CBD gummies market size is expected to grow at a CAGR of 28.3% from 2021 to 2028; it was valued at USD 2.13 billion in 2021 and is projected to reach USD 12.18 billion by 2028.
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Global CBD Gummies Market – Report Scope:
| Market Size Value in | USD 2.13 Billion in 2021 |
| Market Size Value by | USD 12.18 Million by 2028 |
| Growth rate | CAGR of 28.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 120 |
| No. of Tables | 30 |
| No. of Charts & Figures | 43 |
| Historical data available | Yes |
| Segments covered | Category, and Distribution Channel |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global CBD Gummies Market – Growth Trends:
One trend in the CBD gummies market is the increasing popularity of organic and natural products. As consumers become more conscious of what they put in their bodies, they are looking for products made with natural and organic ingredients. This trend has shown an expansion in CBD gummies made with organic and natural ingredients, such as organic hemp and natural sweeteners.
Another trend in the CBD gummies market is the increasing number of companies launching new and innovative products. Companies are introducing new flavors, formulations, and delivery methods to stand out in the market. For example, some companies are launching CBD gummies with specific formulations for different health conditions, such as anxiety or sleep. Additionally, some companies are also launching CBD gummies with different potencies and dosages to cater to the different needs of consumers.
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Global CBD Gummies Market – Growth Drivers:
The CBD gummies market is driven by the increasing awareness and acceptance of CBD as a potential alternative medicine. As more research is conducted on the potential health benefits of CBD, more people are becoming interested in using it to manage various health conditions such as anxiety, pain, and insomnia. The growing number of people using CBD for therapeutic purposes and the increasing acceptance of CBD as a dietary supplement are driving market growth.
Another driver of the CBD gummies market is the legalization of cannabis and CBD in various states. As more states legalize cannabis and CBD, it becomes more widely available and accessible to consumers. This has led to an increase in the number of CBD products offered in the market, including gummies.
Furthermore, the increasing use of CBD in various industries, such as food and beverage, personal care, and pharmaceuticals, is also driving the market growth. As CBD is being incorporated into various products, it is becoming more mainstream and accessible to consumers, increasing demand for CBD gummies.
Global CBD Gummies Market – Regional Overview:
The CBD gummies market is divided into regions such as North America, Europe, Asia Pacific, and the Rest of the World. North America is envisioned to dominate the global market due to the increasing legalization of cannabis and CBD in the US and Canada. Europe is also expected to notice considerable growth in the CBD gummies market due to the increasing legalization of cannabis and CBD in various countries. The Asia Pacific region is also foreseen to witness significant growth in the market due to the increasing awareness about the potential health benefits of CBD. The Rest of the World is anticipated to witness moderate market growth due to the industry’s lack of regulations and standardization
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Global CBD Gummies Market – Segmentation:
The global CBD Gummies market is segmented on category and distribution channel. Based on category, the market is segmented as sugar-free and conventional. On the basis of the distribution channel, the market is segmented as specialty stores, online retail, and others.
Global CBD Gummies Market – Growth Restraints:
Several restraints are currently hindering the growth of the CBD gummies market. One of the major restraints is the industry’s lack of regulation and standardization. As CBD is not yet fully legal in all states and countries, there is a lack of product quality and labeling standardization. This can lead to confusion among consumers and make it difficult for them to trust the products they are buying. Additionally, there is a lack of clear and consistent guidelines for manufacturers, making it difficult for them to navigate the industry.
Another restraint to the CBD gummies market is the lack of scientific research on the long-term effects of CBD. While there is growing evidence of the potential benefits of CBD, more research is needed to fully understand the effects of long-term use. This can make it difficult for manufacturers to make claims about their products and for consumers to make informed decisions about using them. Furthermore, the negative perception of cannabis and CBD in some societies also restrain market growth.
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Source: Globenewswire