Global CBD Gummies Market to Grow at 27.3% During 2023-2028, Propelled by Increasing Legalization of Cannabis

April 21, 2023 | Food & Beverages

IMARC Group's latest report, titled "CBD Gummies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global CBD gummies market is expected to exhibit a CAGR of 27.3% during 2023-2028. CBD gummies are a type of candy that contains non-psychoactive cannabidiol (CBD) oil extracted from the marijuana plant. These gummies come in different shapes, flavors, colors, and concentrations of cannabidiol and are widely available in the market. They are easily consumable and offer various health benefits, such as relieving chronic pain, reducing anxiety and depression, minimizing stress, and treating insomnia. They also help reduce seizures among individuals with epilepsy. At present, CBD gummies are gaining immense traction across the globe due to their non-psychotropic effects.

Global CBD Gummies Market Trends:

The increasing legalization of cannabis for medical and recreational purposes, especially in countries such as the United States, Canada, Mexico, and Argentina, represents the primary factor driving the market growth. Moreover, the rising consumer awareness about the benefits of CBD gummies, including their ability to alleviate inflammation, relieve pain, improve sleep quality, and manage stress, is positively influencing the market growth. Apart from this, shifting consumer preferences toward CBD-infused edibles, such as CBD gummies, due to the rising prevalence of respiratory ailments caused by smoking cannabis is another major growth-inducing factor. Additionally, the increasing demand for CBD gummies among consumers with neurological and psychiatric disorders owing to their non-psychotropic properties, which reduce the risk of drug-induced sensations, has catalyzed market growth. Besides this, the emergence of gluten-free, vegan, sugar-free, and organic CBD gummies made from non-GMO hemp plants is propelling market growth. Furthermore, the easy product availability through online retail channels, increasing consumer awareness, escalating demand for natural wellness solutions, and rising sales of high-quality CBD products are some of the other factors providing a positive thrust to the market growth.

Market Summary:

Based on the concentration, the market has been bifurcated into high and low-concentration gummies.
On the basis of the packaging, the market has been categorized into pouches, bottles, jars, and cans.
Based on the distribution channel, the market has been divided into supermarkets and hypermarkets, head shops, smoke shops, local health stores, online, and others.
Region-wise, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, South Korea, Australia, and others), Europe (Germany, the United Kingdom, Netherlands, Spain, and others), Latin America (Brazil, Argentina, and others), and Middle East and Africa (South Africa, Israel, and others).
The competitive landscape of the market has also been examined, with some of the key players being CBD American Shaman, CV Sciences Inc., Diamond CBD, BellRock Brands Inc., Green Roads (The Valens Company), Hemp Bombs, Medix CBD, Premium Jane, Purekana LLC, Reliva Wellness and Sunday Scaries.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Concentration, Packaging, Distribution Channel, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, China, South Korea, Australia, Germany, United Kingdom, Netherlands, Spain, Brazil, Argentina, South Africa, Israel
Companies Covered	CBD American Shaman, CV Sciences Inc., Diamond CBD, BellRock Brands Inc., Green Roads (The Valens Company), Hemp Bombs, Medix CBD, Premium Jane, Purekana LLC, Reliva Wellness and Sunday Scaries
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global CBD Gummies Market to Grow at 27.3% During 2023-2028, Propelled by Increasing Legalization of Cannabis

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