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The global CBD gummies market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 27% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
CBD gummies refer to edible candies containing non-psychoactive cannabidiol oil, which is extracted from the marijuana plant. These gummies are widely available in different shapes, flavors, colors, and concentrations of cannabidiol. CBD gummies are easily consumable and help in relieving chronic pain, reducing anxiety and depression, minimizing stress levels, treating insomnia, etc.
The rising legalization of cannabis for several medical and recreational purposes, particularly across countries such as the United States, Canada, Mexico, Argentina, etc., is augmenting the demand for CBD gummies. Furthermore, the growing consumer awareness towards several benefits of CBD gummies in treating inflammation, relieving pain, improving sleep quality, and better stress management, is also propelling the market growth. Additionally, the increasing prevalence of several respiratory ailments caused due to smoking cannabis has led to the changing consumer inclination towards CBD-infused edibles, including CBD gummies. Besides this, the growing incidences of several neurological and psychiatric disorders are further propelling the adoption of CBD gummies based on their non-psychotropic properties that eliminate the risk of drug-induced sensations among consumers. Moreover, the emergence of gluten-free, vegan, sugar-free, and organic CBD gummies that are usually prepared from non-GMO containing hemp plants, is further catalyzing the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cbd gummies market report, along with forecasts for growth at the global, regional, and country-level from 2021-2026. Our report has categorized the market based on region, concentration, packaging and distribution channel.
Breakup by Concentration:
Breakup by Packaging:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being 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 and Sunday Scaries.
We expect the global CBD gummies market to exhibit a CAGR of around 27% during 2021-2026.
The increasing consumer awareness towards several benefits of CBD gummies in treating inflammation, relieving pain, improving sleep quality, and better stress management is currently driving the global CBD gummies market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units and delay in R&D activities for CBD gummies.
Based on the concentration, the global CBD gummies market has been segmented into high concentration and low concentration. Currently, low concentration gummies hold the majority of the total market share.
Based on the distribution channel, the global CBD gummies market can be categorized into supermarkets and hypermarkets, head shops, smoke shops, local health stores, online, and others. Among these, online channel exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global CBD gummies market include 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, and Sunday Scaries.
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