CBD gum market outlook
Market Future Research (MRFR) has studied the global CBD gum market from 2020 through the analysis period to 2030. According to the MRFR assessment, the CBD gum market is expected to grow at 12% CAGR in the analysis period from 2020 to 2030.
By 2030, the CBD gum market is expected to be worth US$257 million. The growing popularity of CBD gummies as CBD foods due to the therapeutic benefit offered by CBD could soon expand the market.
CBD gummies are available in different shapes and sizes. The growing demand for CBD-infused products for both recreational and medicinal purposes across different regions to help relieve anxiety, inflammation, pain and depression can fuel the expansion of the CBD gum market. In addition, the non-psychoactive, non-intoxicating and non-addictive nature of CBD gummies which also has decent sensory properties can support the growth of the market soon. The legalization of industrial hemp for medical applications and the presence of manufacturers of CBD-infused products could further fuel the market recovery. Partnerships, acquisitions and mergers among key stakeholders of CBD gum producers can contribute to the rapid expansion of the market. Adoption of effective marketing strategies and emergence of robust e-commerce platforms are other reasons that can boost the CBD candy market. Issues with strict regulations related to the approval of new CBD gummies products are likely to hinder the upswing of the market.
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Covid 19 analysis
The Covid-19 pandemic has had a mixed impact on the global CBD candy market. The temporary closure of industrial units has greatly reduced CBD gum production. Moreover, there was also a decrease in their sale during the period due to the financial constraints of the individuals. Moreover, restrictions on travel and movement of goods hampered distribution and supply chain in the global market. However, increasing awareness of the importance of health products has also increased the demand for CBD gum. Its use in treating stress and insomnia increased during this period.
Market segmentation
Segmental assessment of the global CBD Gummies market forecast is based on type, category, distribution channel, and flavor.
Type-based parts of files CBD gum market growth It is a broad spectrum CBD and isolate full spectrum CBD and CBD. The CBD isolates segment is expected to experience a high growth rate in the review period due to the availability of CBD isolates in their purest form where flavonoids, plant parts, terpenes and other cannabinoids are removed. Since CBD gummies do not have psychoactive effects, CBD is expected to induce isolate elevation in the review period.
The flavor-based segments of the CBD gum market are raspberry, peach, lemon, mixes, apple, and others. The berry segment could make a huge profit in the analysis term due to the growing demand for berry flavored CBD gummies coming soon. The post-legalization of CBD in the US market is expected to see an exponential rise in this segment in the coming years.
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The segments based on categories in the CBD gum market are traditional and vegan. The vegetable sector is expected to rise at a significant pace in the coming years. The growing demand for plant products is expected to bring decent returns to the market in the coming years. The expansion of plant-based CBD products and the growing preference for products based on natural ingredients that govern the external effects of chemicals could gain traction for CBD gum.
Segments based on distribution channels in the CBD gum market are store dependent and not store dependent. The growing trend of online purchasing of CBD-infused products and the ease of availability of a wide range of products at an affordable price could support the growth of the online sector in the coming years. Increased online purchases of CBD products that help keep customer identities separate could lead to a market preference in the review period.
Regional analysis
According to the regional assessment of the CBD gummies market by MRFR, North America is expected to hold a significant share of the global market in the review period. The MRFR study revealed that North America is expected to have a 55% share of the global market in the review period. The growing demand for CBD-infused products that originated in the United States due to the increase in its use in the wellness and medical industry could boost the growth of the regional market. Legalizing CBD gummies and products for recreational and medicinal purposes could drive the market through the study period in the review period. In Europe, the CBD gum market is expected to have the second largest global market share, after the United States. In the Asia-Pacific region, the availability of legal aid is likely to lead to preference Vitamin Gummies Market in the next years.
The main players
CV Sciences (US), CHARLOTTE’S WEB (US), Medterra (US), Green Roads World (US), Dixie Brands Inc (US), Balanced Health Botanicals (US), Diamond CBD (US) CBDfx (US), Premium Jane (US) and Medix Wellness LTD (US) are some of the key players in the CBD gum market identified by MRFR to gain insights into the competitive landscape of the CBD gum market.
Note: Our team of researchers is studying Covid19 and its impact on different industry segments and where needed we will look into the footprints of Covid19 for better analysis of the market and industries. Warmly contact us for more details.
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