CBD Gummies Market
CBD Gummies Market Analysis By Concentration (High Concentration, Low Concentration), By Distribution Channel (Offline, Online) & By Region – Global Market Insights 2023 to 2033
Analysis of CBD Gummies Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
CBD Gummies Market Outlook (2023 to 2033)
The industry analysis by Fact.MR reveals that the global cannabidiol (CBD) gummies market was valued at US$ 1.46 billion in 2022 after accelerating at a CAGR of 12.8% from 2018 to 2022. The market is projected to surge ahead at a CAGR of 30.1% and reach US$ 26.41 billion by the end of 2033.
One of the primary growth drivers of the market includes increasing initiatives to legalize cannabis for medical and recreational purposes. The popularity of CBD gummies is attributed to their anti-depressant, neuroprotective, anti-anxiety, and pain relief properties.
- Demand for high concentration CBD gummies is forecasted to increase at a CAGR of 30.4% and reach a market valuation of US$ 24 billion by 2033.
- Sales of CBD gummies in the United Kingdom are predicted to advance at a 29.4% CAGR and reach US$ 2.48 billion by 2033.
Rising awareness about the numerous benefits of cannabidiol, including treating skin problems, improving cognitive function, etc., is contributing to market growth opportunities. CBD gummies are also used to provide relief from pain and inflammation. They are consumed to treat anxiety and insomnia.
CBD gummies are also helpful in reducing chronic pain while improving endocannabinoid receptor activity. They are acting together with neurotransmitters to provide relief in chronic pain.
Growing pressure among students and working individuals is leading to depression and anxiety, which is expected to fuel demand for CBD gummies.
- According to the data provided by ADAA (Anxiety and Depression Association of America), anxiety was one of the most commonly found mental illnesses in the United States in 2019. About 40 million adults aged 18 and above are affected by it in the United States.
There are no traces of THC (tetrahydrocannabinol) content in CBD gummies, which is also predicted to boost their demand over the coming 10 years.
Fact.MR, a provider of market research and competitive intelligence, recently published a research report on multiple dynamics of CBD gummies that can help readers to get thorough insights. Growth driving factors, regional analysis, new developments, etc., are some dynamics that are found in the research report.
CBD Gummies Market Size (2023)
US$ 1.90 Billion
Forecasted Market Value (2033)
US$ 26.41 Billion
Global Market Growth Rate (2023 to 2033)
High Concentration Segment Growth Rate (2023 to 2033)
United States Market Growth Rate (2023 to 2033)
China Market Growth Rate (2023 to 2033)
South Korea Market Value (2033)
US$ 871.56 Million
Key Companies Profiled
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Why are Manufacturers of CBD Gummies Enjoying High Profits?
“Growing Cases of Insomnia Propelling Demand for CBD Gummies”
In recent years, there has been a significant increase in cases of insomnia around the world. People with mental and physical health concerns, older people, and women are more prone to insomnia.
Hectic work schedules of the majority of people are resulting in some major disruptions in their sleep cycles that can lead to rising cases of insomnia. These cases are further seeking numerous approaches as a solution to this issue and one such approach is the consumption of cannabis products such as CBD gummies, which helps in mind relaxation.
It is very easy to swallow CBD gummies and they serve as a facile treatment against insomnia. Thus, the growing cases of insomnia are predicted to stimulate the demand for CBD gummies over the forecast period.
“Increasing Demand for Multiple Flavored CBD Gummies”
Key manufacturers of cannabinoid gummies are concentrating on offering numerous alternatives to consumers according to their tastes. CBD gummies are available in different forms, tastes, etc., across the globe.
Contemporary consumers are conscious of their involvement in sensory experiences. It compels them to choose various flavors while consuming numerous types of food & beverages. This factor applies to the consumption of CBD as well. Suppliers are thus completing dual purposes to impart health benefits that too without compromising on customer expectations.
“Healthcare Industry Accounting for High Sales of CBD Gummies”
The healthcare industry is one of the prominent contributors generating growth opportunities for players. Cannabinoid gummies are helpful in controlling inflammatory reactions in the body. CBD products, including gummies, etc., are gaining popularity as an effective alternative to conventional analgesics that includes aspirin, ibuprofen, and others.
CBD consists of some anti-depressant and anti-anxiety properties. In addition, it is also popular due to its ability to help in the growth of brain cells (neurogenesis) in the critical areas that are associated with depression and anxiety.
What are the Challenges Encountered by Suppliers of CBD Gummies?
“Implementation of Stringent Government Regulations”
A majority of CBD products do not have approval from FDA (Food and Drug Administration) as there are variations between purity and strengths among brands. These cannot yield results according to the expectations of manufacturers. Therefore, their adoption is restrained in some countries.
“Availability of Substitute Products”
There are several substitutes that can be found in the market, including salad dressings, protein supplements, CBD dark chocolates, CBD wine, and others. Their easy availability is predicted to hinder market expansion opportunities over the coming decade.
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How are Start-ups Contributing to Increasing Sales of CBD Gummies?
“Production of Vegan and Gluten-free Gummies”
Various consumers are becoming aware of the benefits of gluten-free and vegan products. Therefore, the production of various types of CBD gummies to provide relief from anxiety and sleeplessness is projected to open up lucrative opportunities for them.
Why are Suppliers of CDB Gummies Lining Up in the United States?
“Supportive Regulations for Medical Use of CBD Gummies”
The United States market is predicted to expand at a CAGR of 33.5% and is set to reach a valuation of US$ 8.50 billion by the end of 2033. The formulation of numerous regulations related to the medical or legal use of CBD gummies is contributing to their increased sales in the United States.
What is Fueling Demand for CBD Gummies in the United Kingdom?
“Acceptance of CBD as Novel Products”
Demand for CBD gummies in the United Kingdom is projected to accelerate at a CAGR of 29.4% and reach a value of US$ 2.48 billion by 2033. Authorities from respective areas are making regulations a bit flexible. CBD is regarded as a novel product for application in beverages, food, and food supplements. Therefore, these initiatives are estimated to increase the consumption of CBD gummies.
How are Sales of CBD Gummies Shaping Up in South Korea and Japan?
“Product Innovations and Introduction of New CBD Edibles”
Sales of CBD gummies in South Korea are forecasted to register a CAGR of 27.3% and reach a valuation of US$ 871.56 million by 2033. The Japanese market is predicted to advance at a CAGR of 26.4% and reach US$ 871.56 million by 2033.
Rising awareness among various people about the health advantages of CBD gummies is estimated to open up lucrative opportunities for suppliers. Various producers of CBD gummies are investing to introduce more qualitative products that follow new legislative amendments.
Product innovations and the introduction of new CBD edibles are also contributing to market growth. In addition, increasing investments by various international players in Japan are also widening the horizon of the market.
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Why are High Concentration CBD Gummies Preferred Over Low Concentration Gummies?
“Rising Application of High Concentration CBD Gummies in Healthcare Sector”
Based on concentration, the global market is segmented into high concentration and low concentration CBD gummies. Between these two, demand for high-concentration CBD gummies is projected to increase at a CAGR of 30.4% and reach a valuation of US$ 24 billion by 2033.
Growing application of CBD gummies in the healthcare sector is attributed to their effectiveness to treat various conditions, including sleep disorders, schizophrenia, epilepsy, glaucoma, and others.
Which Distribution Channel is Widely Used for Delivery of CBD Gummies?
“Offline Distribution Channel Accounts for Bulk Sales of Genuine CBD Gummies”
Offline and online distribution channels are commonly used for the delivery of CBD gummies in recent years. Sales of CBD gummies through offline distribution platforms are forecasted to expand at a CAGR of 31.5% and reach a value of US$ 22.05 billion by 2033.
Consumers prefer offline distribution channels while looking for genuine goods. Consumers buy CBD products with a special prescription from local pharmacies. The committed local clientele and established audience are forecasted to lead to the rising inclination of various consumers toward offline distribution channels.
Maintaining product standards, initiatives for quality control, strengthening the supply chain management systems, etc., are some key objectives on which industry players are concentrating.
Numerous strategies such as agreements, collaborations, mergers, and acquisitions are adopted by key players to expand their footprints globally.
For instance :
- In February 2021, the proprietor of Diamond CBD, First Capital Venture Co. (PotNetwork Holdings division), and Champs, Inc. entered into a contract. This initiative aims to increase the market share of Diamond CBD with the introduction of products that are generally endorsed by athletes.
Key players in the CBD gummies market include Verma Farms, Hemp Bombs, Verified CBD, Nature’s Script, CBDistillery, Endoca, Plus CBD, Koi CBD, Green Roads, and Charlotte’s Web.
Segmentation of CBD Gummies Industry Research
By Concentration :
- High Concentration
- Low Concentration
By Distribution Channel :
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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The global CBD gummies market valuation stands at US$ 1.90 billion in 2023.
Worldwide demand for CBD gummies is forecasted to increase at a CAGR of 30.1% from 2023 to 2033.
Sales of high concentration CBD gummies are predicted to reach a valuation of US$ 24 billion by the end of 2033.
The CBD gummies market in China is expected to reach US$ 3.46 billion by 2033.
Demand for CBD gummies in the United States is forecasted to rise at a CAGR of 33.5% through 2033.
Demand for CBD gummies in South Korea is projected to advance at a 27.3% CAGR over the forecast period.
The worldwide CBD gummies market is estimated to reach a value of US$ 26.41 billion by 2033.