CBD Gummies Market: Global Industry Analysis and Forecast (2023-2029)

Global CBD Gummies Market size was valued at USD 2.67 Billion in 2022 and is expected to grow at a CAGR of 29.2% from 2023 to 2029, reaching nearly USD 16.05 Billion.

The global market for CBD gummies is poised for substantial growth in the near future. The surge in consumer awareness regarding the health benefits of CBD, coupled with the increasing adoption of CBD products for medical purposes, and the growing trend of using natural and organic products are the primary factors driving this growth. The market is segmented based on product type, distribution channel, and geography. Full Spectrum CBD gummies are anticipated to dominate the market during the forecast period, with the online channel experiencing significant growth.

North America is forecasted to dominate the CBD gummies market, followed by Europe and Asia-Pacific. Leading players in the industry, such as Charlotte’s Web, Diamond CBD, Green Roads, Medix CBD, PureKana, CBD American Shaman, Premium Jane, Hemp Bombs, and Verma Farms, are emphasizing product innovation, expanding their product portfolio, and entering into partnerships and collaborations to strengthen their market position.

The increasing legalization of cannabis and its derivatives, along with the growing trend of self-medication, are forecasted to fuel the demand for CBD gummies in the coming years. Moreover, the ease of consumption and the discreetness of CBD gummies make them a preferred choice among consumers. However, the lack of standardization in the regulatory framework and the high cost associated with CBD products may hinder the growth of the market. Nonetheless, advancements in technology and the increasing investments in research and development are anticipated to create lucrative opportunities for market players in the CBD gummies industry.

The report spotlight the vast CBD gummies potential for industry players to expand their product offerings and enhance their market position in the rapidly expanding CBD gummies market.To know about the Research Methodology :- Request Free Sample Report
CBD Gummies Market: Research Methodology
The CBD gummies market data is collected from both primary and secondary sources, taking into account all possible factors that may influence the market. The research is validated through primary research and analyzed to provide valuable insights. Market size estimates and forecasts for top-level markets and sub-segments are adjusted for inflation, economic downturns, regulatory and policy changes, and other variables to ensure accurate market projections.

To estimate market size and forecasts, a bottom-up approach and multiple data triangulation methodologies are used. The percentage splits, market shares, and segment breakdowns are derived based on utilization rates and average sale prices. Country-wise analysis of the overall market and its sub-segments is based on the percentage adoption or utilization of the given market size in the respective region or country.

The major CBD gummies companies are identified through secondary research based on indicators such as market revenue, price, services offered, advancements, mergers and acquisitions, and joint ventures. Extensive primary research is conducted to acquire information and verify and confirm the crucial numbers arrived at after comprehensive market engineering and calculations for market statistics, market size estimations, market forecasts, and market breakdown.

The report analyzes external and internal factors that could positively or negatively impact the CBD gummies market, providing decision-makers with a clear view of the industry's future. The report also helps in understanding the dynamic structure of the market by analyzing its segments and projecting the market size. Competitive analysis of key players by price, financial position, growth strategies, and regional presence in the CBD gummies industry is also presented.
CBD Gummies Market Dynamics:
CBD Gummies Market: Drivers

The market growth of CBD Gummies Market is primarily driven by increasing consumer awareness about the health benefits of CBD, which has led to a surge in demand for CBD-infused products such as gummies. CBD is known for its potential health benefits, including reducing anxiety, pain relief, and improving sleep quality. Another significant driving factor is the natural and organic nature of CBD gummies, making them a more appealing alternative to synthetic supplements. The rising adoption of CBD products for medical purposes, such as treating epilepsy, chronic pain, and anxiety, is also a significant market driver. Major players in the market are focused on product innovation, expanding their product portfolio, and entering into partnerships and collaborations to strengthen their market position.

CBD Gummies Market: Opportunities

Report on the CBD gummies market highlights the potential opportunities that can drive its growth in the future. The report identifies several factors that can contribute to the market's expansion, such as the increasing legalization of cannabis, the growing popularity of e-commerce platforms, and the rising demand for CBD gummies among athletes and fitness enthusiasts. Furthermore, the report spotlights the potential impact of product innovation, with manufacturers introducing new flavors, packaging, and ingredient combinations to attract more consumers.

Lastly, the report identifies the skincare industry's rising trend of using CBD-infused products, including gummies, due to its anti-inflammatory and antioxidant properties, as a potential opportunity for the market's growth. The report suggests that these factors provide ample opportunities for the CBD gummies market to expand in the coming years.

CBD Gummies Market: Restraints & Challenges

Report identified several challenges that could impede the growth of the CBD gummies market. One of the key challenges is the lack of standardization and regulations regarding the use of CBD in products, which can lead to consumer distrust and reluctance to purchase. Another challenge is the high cost of CBD gummies compared to other supplements, making them less accessible to budget-conscious consumers. Potential side effects, limited availability in certain regions, and a lack of awareness and education among consumers about the benefits and uses of CBD gummies are also challenges that must be addressed.

Limited scientific research on the long-term effects of CBD use, stigma associated with cannabis and CBD products, and a lack of clear labeling and transparency in the industry present further challenges. These findings are presented in MMR report, and it is crucial for the CBD gummies market to overcome these challenges to reach its full potential.
CBD Gummies Market Trends:
Report on the CBD gummies market has identified several trends that are expected to shape the market's growth in the future. Consumers are increasingly demanding CBD gummies made with natural and organic ingredients, and manufacturers are responding by offering products made with natural fruit juices, flavors, and plant-based sweeteners. CBD gummies are also gaining popularity for their potential health benefits, and manufacturers are creating formulations for targeted health benefits such as pain relief, anxiety reduction, and sleep improvement.

The market is also seeing an increasing demand for vegan and gluten-free options. Manufacturers are innovating with new flavors, shapes, and formulations to differentiate their products and appeal to a wider consumer base. The increasing legalization of cannabis in some regions is expected to drive the growth of the CBD gummies potential. Report highlights that these trends are likely to have a significant impact on the growth of the CBD gummies industry in the coming years, and the report provides further insights into the market.
CBD Gummies Market Segment Analysis:
The CBD gummies market can be analyzed based on various factors, such as product type, distribution channel, and region. The product type can be classified as THC-free and THC-infused CBD gummies, with the former being more popular among consumers who want to benefit from CBD's health effects without the psychoactive impact of THC. The market can be segmented based on distribution channels such as online and offline. Online channels comprise e-commerce platforms and social media, while offline channels include retail stores and pharmacies.

North America is likely to dominate the CBD gummies industry due to the legalization of cannabis in several regions, while Europe is expected to grow significantly due to the increasing awareness of CBD's health benefits and legalization of cannabis for medical use. The Asia-Pacific region is projected to expand substantially, largely due to the growing acceptance of cannabis and CBD products in countries such as Japan and South Korea. Companies can use market segmentation to identify their target customers and develop effective marketing strategies to meet their demands. The comprehensive report provides valuable insights into the CBD gummies market, including the latest trends and drivers influencing its growth.
CBD Gummies Market Regional Insights:
The global CBD gummies market is poised for significant growth, with unique trends, opportunities, and challenges in various regions. North America is projected to lead the market, driven by the legalization of cannabis in several regions and the increasing demand for CBD products, especially among health-conscious consumers. Europe is expected to witness substantial growth due to the growing awareness of the health benefits of CBD and the legalization of cannabis for medical purposes in several countries. The presence of established players in the region is also expected to drive market growth.

In the Asia-Pacific region, the market is anticipated to experience substantial growth due to the growing acceptance of cannabis and CBD products, particularly in Japan and South Korea. Moreover, the increasing demand for natural and organic products and awareness of the health benefits of CBD are also forecast to fuel market growth in this region. The South American market is expected to grow steadily due to the increasing legalization of cannabis for medical purposes in several countries, with emerging players and the growing demand for natural and organic products also driving market growth.

The Middle East and Africa market is expected to have moderate growth due to strict regulations and conservative cultural norms, but the increasing demand for natural and organic products and the growing awareness of the health benefits of CBD are expected to drive market growth in the coming years. Companies looking to enter or expand their presence in the CBD gummies market can develop targeted marketing strategies based on the insights provided by regional market analysis, which is critical in understanding consumer preferences and demands in each region.
CBD Gummies Market: Competitive Landscape
The global CBD gummies industry is highly competitive, with both established and emerging CBD gummies players vying for market share. Leading CBD gummies companies in the market include Charlotte's Web Holdings Inc., CV Sciences Inc., Diamond CBD, Green Roads, Hemp Bombs, Highland Pharms, Medix CBD, and Pure Kana. These CBD gummies players are using various strategies like mergers and acquisitions, partnerships, collaborations, and product launches to enhance their market share. For example, Charlotte's Web Holdings Inc. acquired Abacus Health Products, Inc., while CV Sciences Inc. launched a new line of CBD gummies under its PlusCBD Oil brand.

Emerging players are introducing innovative products and expanding their distribution networks to establish themselves in the market. The CBD gummies market is expected to grow steadily in the coming years, driven by increasing consumer awareness of CBD's health benefits and a growing preference for natural and organic products. With players focusing on product differentiation and expansion, the competitive landscape of the market is expected to remain intense.
CBD Gummies Market Scope: Inquire before buying



CBD Gummies Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.67 Bn.


Forecast Period 2023 to 2029 CAGR:
29.2%
Market Size in 2029:
US $ 16.05 Bn.


 Segments Covered:
by Concentration
1. Low
2. High


by Distribution
1. Supermarket & Hypermarket
2.Head shops
3. Smoke shops
4. Local health stores
5. Others
6. Online Retail


by Packaging
1. Pouches
2. Bottle
3. Jar
4. Tin
5. Others



CBD Gummies Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
CBD Gummies Market, Key Players are
The report includes the detailed profiles of CBD Gummies companies in strategic perspective. Shortlisting of CBD Gummies market key players is done on the criteria based on geographical presence, revenue, investment, visionary management and offering by research analyst.

1. CV Sciences Inc. (US)
2. Charlotte's Web Holdings Inc. (US)
3. Medix CBD (US)
4. Green Roads (US)
5. Hemp Bombs (US)
6. Verma Farms (US)
7. Hempzilla CBD (US)
8. Pure Kana (UK)
9. ZenBears CBD(UK)
10. Endoca (Denmark)
11. Cibdol (Switzerland)
12. Eir Health (Ireland)
13. Nordic Oil (Germany)
14. Just CBD (Australia)
15. Hemp Foods Australia (Australia)
16. Potli (India)
17. Hempura (UK)
18. Cannaray (UK)
19. Hello Hemp (UK)
20. Tauriga Sciences Inc. (Puerto Rico)
21. Earth Science Tech Inc. (Puerto Rico)
22. HempMeds (Brazil)
23. CBD Life SA (Uruguay)
24. Medical Marijuana Inc. (Mexico)
25. Hemporium (South Africa)
26. Africanpure (South Africa)
27. Royal CBD (Israel)

FAQs

1. What is the forecast market size of the CBD Gummies Market by 2029?
Ans: The market size of the CBD Gummies Market by 2029 is expected to reach USD 16.05 Billion

2. What is the growth rate of Global  Market?
Ans: The Global CBD Gummies Market is growing at a CAGR of 29.2% during forecasting period 2023-2029

3. Who are the key players in Global  Market?
Ans: CV Sciences Inc., Charlotte's Web Holdings Inc., Medix CBD, Green Roads, Hemp Bombs, Verma Farms, Hempzilla CBD, Pure Kana, ZenBears CBD, Endoca, Cibdol, Eir Health, Nordic Oil, Just CBD, Hemp Foods Australia, Potli, Hempura, Cannaray, Hello Hemp, Tauriga Sciences Inc., Earth Science Tech Inc., HempMeds, CBD Life SA, Medical Marijuana Inc., Hemporium, Africanpure, and Royal CBD

4. What is the study period of Market?
Ans: The Global Market is studied from 2017 to 2029

5. What was the market size of the Market in 2022??
Ans: The market size of the Market in 2022 was valued at USD 2.67 Billion