IMARC Group, a leading market research company, has recently released a report titled “CBD Gummies Market Report by Concentration (High Concentration, Low Concentration), Packaging (Pouches, Bottles, Jars, Cans), Distribution Channel (Supermarkets and Hypermarkets, Head Shops, Smoke Shops, Local Health Stores, Online, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the CBD gummies market?
The global CBD gummies market size reached US$ 3.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 27.4 Billion by 2032, exhibiting a growth rate (CAGR) of 26.19% during 2024-2032
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Factors Affecting the Growth of the CBD Gummies Industry:
- Increased Health and Wellness Awareness:
One of the primary drivers of the CBD gummies market is the growing consumer awareness and acceptance of the health and wellness benefits associated with CBD. CBD, or cannabidiol, is being increasingly recognized for its potential therapeutic properties, such as anxiety and stress relief, pain management, and sleep enhancement. This has led to a surge in demand for CBD-infused products, with gummies being a popular choice due to their ease of use, precise dosing, and appealing flavors. The trend towards natural and alternative remedies in health and wellness circles further bolsters the market, positioning CBD gummies as a desirable option for those seeking holistic health solutions.
- Legalization and Regulation of Cannabis Products:
The legalization of cannabis and hemp-derived products in various countries, particularly in North America and parts of Europe, is a significant factor influencing the CBD gummies market. As legal barriers are lifted, there's been an increase in the production and distribution of CBD products. Regulatory frameworks are also being established to ensure product quality and safety, which in turn boosts consumer confidence and market growth. These legal advancements have not only made CBD products more accessible but have also facilitated the entry of new players into the market, increasing competition and innovation.
- Consumer Preferences and Product Innovation:
In the CBD gummies market, evolving consumer preferences and ongoing product innovation play a pivotal role in shaping market dynamics. Consumers increasingly seek products that align with specific health, dietary, and lifestyle needs, leading to a demand for diverse and tailored options. This has spurred manufacturers to innovate, resulting in a wider variety of CBD gummies that include organic, vegan, sugar-free, and all-natural options to cater to different preferences. Additionally, innovations in flavor profiles and CBD concentrations address the varying tastes and desired effects sought by consumers. This constant evolution and innovation ensure that the market remains responsive to consumer demands, driving growth and diversity in product offerings.
CBD Gummies Market Report Segmentation:
By Concentration:
- High Concentration
- Low Concentration
Low concentration CBD gummies constitute the largest market segment by concentration, as they cater to new or casual users seeking the benefits of CBD without strong effects, making them a popular and approachable choice.
By Packaging:
- Pouches
- Bottles
- Jars
- Cans
On the basis of packaging, the market has been divided into pouches, bottles, jars, and cans.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Head Shops
- Smoke Shops
- Local Health Stores
- Online
- Others
Based on distribution channel, the market has been divided into supermarkets and hypermarkets, head shops, smoke shops, local health stores, online, and others.
By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
North America is the largest market for CBD gummies, largely due to the widespread acceptance and legalization of CBD products in several states, coupled with a growing consumer awareness of the health benefits associated with CBD.
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Global CBD Gummies Market Trends:
The increasing consumer inclination towards health and wellness products represents one of the key factors driving the growth of the CBD gummies market across the globe. This, coupled with CBD gummies being recognized for their potential health benefits, such as stress relief, pain reduction, and improved sleep is leading to a rise in demand, especially among health-conscious consumers which is fueling the market growth.
The market is also driven by the diversification of product offerings, with manufacturers introducing a variety of flavors, concentrations, and formulations to cater to different consumer preferences and needs. There's also a growing emphasis on quality and transparency in the production of CBD gummies, with consumers seeking products that are organic, non-GMO, and free from harmful additives. In addition to this, the relaxation of regulations and increasing legalization of CBD products in various regions, particularly in North America, is significantly driving the market growth.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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
- Sunday Scaries
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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