CBD Gummies Market is Anticipated to Register 12.0% CAGR through 2027
Market Forecast
In 2019, the Global CBD
Gummies Market was valued at USD 257 Million and is expected to register a
CAGR of 12% between 2020 and 2027.
CBD gummies are edible candies that contain cannabidiol (CBD) oil. These
candies come in variety of colors, flavors, shapes, and concentrations. Gummies
are one of the most popular forms of consuming CBD. CBD gummies are made from
CBD extracts of hemp and cannabis plant.
CBD gummies have several health benefits. They help in relieving
anxiety, pain, depression, inflammation, and improve sleep. All these health
benefits drive the growth of the CBD gummies market. Much research has
suggested that CBD gummies or the CBD-containing products have a high number of
antidepressants that help in curing acute depression. Legalization of
industrial hemp for medicinal and recreational purposes at the state level in
the US through the US Farm Bill in 2018 certainly created new opportunities for
CBD gummies and other types of CBD infused product manufacturers in the US.
Similarly, in Europe, the cultural shift toward increased societal acceptance
for these products has allowed the population to actively seek various forms of
CBD products, including CBD gummies for their daily use. Additionally, since
CBD-infused gummies are non-psychoactive, non-addictive, and non-intoxicating,
consumption of such products does not make the user high. Furthermore,
effective marketing strategies by global manufacturers of CBD-infused products
is boosting the sales of the CBD gummies market. CBD product manufacturers are
also making partnerships and agreements to expand their presence in the market.
New Age Beverages Corporation merged with direct selling company to distribute
CBD-based products in the US and outside the US. Tilray, a Canada-based
pharmaceutical and Cannabis company partnered with Anheuser-Busch InBev in 2018
to spread its presence in CBD-infused drinks. Hence, such key partnerships,
mergers, and acquisitions are creating new opportunities for key stakeholders
in the market.
Outbreak of COVID-19 has been a boon to the overall CBD products market.
The overall market has not suffered during the COVID-19 pandemic. For instance,
according to MRFR analysis, sales of CBD products, including gummies in the US,
have soared up by approximately 40% during the first quarter of 2020.
Stockpiling of CBD products, including gummies, have increased significantly in
the US post-COVID-19 outbreak. As more people are restraining themselves inside
home due to the outbreak and lockdown restrictions, cases of insomnia and
anxiety is increasing. Hence, these products are proving to be effective in
lowering the stress levels, thereby resulting in sudden boom in the demand for
CBD products. E-commerce portals are proving to be more efficient in the
distribution of such products creating lucrative opportunities for
manufacturers. For instance, Patriot Supreme, a veteran-owned CBD company
reported sales of over 400% post-COVID-19 outbreak in the US through its online
sales.
Market USP
Rising growth opportunities in the health and wellness industry
Growth
Opportunities in the Market
Popularity of CBD Isolates: CBD isolates are anticipated to
witness significant growth opportunities in near future. CBD isolates are
purest form of CBD as they are further refined to remove the flavonoids,
terpenes, plant parts, and other cannabinoids. They are odor-free and taste-free
and have no risk of any psychoactive effects.
The berries segment dominated the market: Berries are most
popular forms of flavors used in CBD gummies. The segment has been dominating
since its legalization in the US in 2018. Berries such as elderberry,
strawberry, and raspberry are some of the most popular flavors used in CBD
gummies.
Strong demand for vegan-based CBD gummies: Manufacturers of
CBD products are witnessing strong demand for vegan and plant-based CBD
gummies. This demand is strongly being witnessed among the US population owing
to the growing trend for vegan-based food products. The presence of natural
ingredients without side-effects is creating traction for vegan-based CBD
products in the global market.
Popularity of online channels for sales of CBD products: Online purchase
of CBD-based products is becoming popular across the globe. Growing e-commerce
infrastructure, ability to showcase large number of product portfolios in
online channels and with reasonable rates are some of the key advantages of the
online channels. Furthermore, consumer discreteness through online purchase
further makes this more acceptable form of channel for purchase of CBD
products.
Access Report
Details @ https://www.marketresearchfuture.com/reports/cbd-gummies-market-10398
Key Players
- CHARLOTTE’S WEB (US)
- CV Sciences (US)
- Green Roads World (US)
- Medterra (US)
- Balanced Health Botanicals (US)
- Dixie Brands Inc (US)
- Medix Wellness LTD (US)
- Diamond CBD (US)
- Premium Jane (US)
- CBDfx (US)
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on
Various Industry Verticals and wherever required we will be considering Covid19
Footprints for Better Analysis of Market and Industries. Cordially get in Touch
for More Details.
Thanks for sharing this very informative information with us.
ReplyDeleteIt's very helpful, about Buy Pharma Grade Live resin
Buy DELTA 8 THC DISTILLATE
Buy Bulk CBC Isolate | Powder
Buy Bulk Delta 9 THC Distillate Jars
Buy Bulk THCA Isolate | Powder | Online
Pure THCA Diamonds
buy-bulk-cbd-isolate-crystals
buy-bulk-cbg-isolate-crystals
buy-bulk-cbn-isolate-powder
FOR MORE DETAILS......
CONTACT US
Phone : +1(424) 235 3914
Email:support@420labextracts.com
Thanks for the wonderful information's about CBD ISOLATE. Keep Sharing
ReplyDeleteTHC Infused Gummies
Call Us:+1(505)257-5355