Dublin – The “CBD Gummies Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Category and Distribution Channel” report has been added to ResearchAndMarkets.com’s offering.
The CBD gummies market was valued at US$ 2,133.48 million in 2021 and is projected to reach US$ 12,182.21 million by 2028. It is expected to grow at a CAGR of 28.3% from 2021 to 2028.
CBD or cannabidiol is an active component in cannabis (marijuana). It is gaining huge traction due to its medicinal and healing effects. According to the World Health Organization (WHO), CBD demonstrates no effects suggestive of any misuse or dependency potential in people.
Based on distribution channel, the CBD gummies market is segmented into specialty stores, online retail, and others. The specialty stores segment accounted for the largest market share in 2020. The online retail segment is projected to grow at the fastest CAGR over the forecast period.
E-commerce platforms have registered significant growth as they provide lucrative services, such as home delivery, discounts, offers, cashback, to the customers. Moreover, customers can choose among a wide range of products by comparing different alternatives available.
A variety of CBD gummies brands are available on e-commerce platforms like Amazon.com. Thus, the high availability of CBD gummies brands at affordable prices is one of the key factors driving the online retail segment.
Based on region, the CBD gummies market is segmented into North America, Europe, and the Rest of the World. In 2020, North America held the largest share of the global CBD gummies market, whereas Europe is projected to register the fastest growth over the forecast period. Europe has a significant concentration of cannabis consumers.
Recently, the European Union has legalized CBD; hence, manufacturers of CBD gummies have a strong growth potential across European nations such as France, Germany, the UK, and Poland. CBD gummies consumption is proliferating rapidly across markets in Europe as manufacturers are focusing on lowering the THC content and using clean-label and organic ingredients.
Moreover, CBD regulations are getting softer as authorities in EU Member States now regard CBD as a novel product for food, beverages, and food supplements. These factors are projected to support the growth of the CBD gummies market across Europe over the coming years.
The leading players in the CBD gummies market include Aurora Cannabis, Inc.; Canopy Growth USA, LLC; CBD American Shaman; CV Sciences, Inc.; Diamond CBD; CBDfx; Sunday Scaries; Medix CBD; Reliva CBD; and Fab CBD.
(This information is primarily sourced from Research and Markets. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).