CBD Gummies Market Research Report - Forecast till 2030

CBD Gummies Market Research Report Information By Type (Full-spectrum CBD, Broad-Spectrum CBD, CBD Isolate), By Flavor (Berries, Lime, Peach, Apple, Blends, Others) and Category (Conventional & Vegan), By Distribution Channel (Store-Based & Non-Store-Based), By Region & Forecast till 2028

ID: MRFR/F-B & N/8920-HCR | 90 Pages | Author: Snehal Singh | March 2024         

CBD Gummies Market Speak to Analyst Request a Free Sample

Global CBD Gummies Market Overview


CBD Gummies Market is anticipated to increase at a 30.7% CAGR During the projected period of 2022 to 2030 and reach USD 13.9 billion By 2030. The CBD gummies market is witnessing rapid growth with an increase in awareness about the health benefits of CBD. The global market was valued at USD 1.6 billion in 2020. CBD gummies are one of the easiest sources of cannabidiol and are highly palatable and do not leave an aftertaste. Their pleasant taste and health benefits are leading to their popularity.


CBD gummies are sweet chewy candies infused with cannabidiol, a hemp product. They are used as a treatment for stress, pain, anxiety, depression, insomnia, etc., and have calming effects on the body. Moreover, CBD products including CBD gummies are used for treating epilepsy. The market of CBD gummies is expanding owing to their great medicinal benefits. The global CBD gummies market is expected to grow at a Compound Annual Growth Rate ( CAGR ) of 30.7% over the forecast period ( 2022-2030 ).


CBD gummies are non-psychoactive and don't lead to any type of addiction. The high demand for these gummies has led to the entry of different players in the market with unique products. Moreover, relaxations in government norms for industrial hemp cultivation are also helping the market to grow significantly. The global CBD gummies market is expected to be worth USD 13.9 billion by the end of the current forecast period in 2030.


Covid 19 Analysis


Covid-19 pandemic had a mixed impact on the global CBD gummies market. The temporary shutting down of Industrial units led to a significant fall in the production of CBD gummies.  Moreover, there was also a decline in their sale during the period owing to the financial constraints on individuals. Furthermore, restrictions on travel and movement of goods hampered the distribution and supply chain of the Global market. However, the increase in awareness regarding the importance of health products has led to the demand generation of CBD gummies too. Its use in stress handling and insomnia treatment increased over the period. 


Market Dynamics


Drivers


The growing popularity of CBD or cannabidiol products along with the increasing legalization of hemp cultivation are the major factors driving the growth of the global CBD gummies market. These gummies play an important role in stress and anxiety handling and treatment of insomnia. The rising cases of insomnia with the prevalence of a sedentary lifestyle are also increasing the demand for cannabidiol gummies. The great medicinal benefits of cannabidiol gummies are the major cause for their high demand in the market


These gummies are easy to consume, non-addictive,  have no aftertaste, and also come in a wide range of attractive shapes. Therefore, different developments in composition like gluten-free gummies and also in the appearance of gummies are boosting the market demand. Many governments around the world are looking for relaxation in regulatory approvals for cannabidiol products which is a positive factor for the growth of the global CBD gummies market. 


Restraints


The stringent regulatory approvals for cannabidiol products are a major hindrance to the growth of the cannabidiol market. Moreover, lack of awareness about the health benefits of cannabidiol is a major cause for less demand for the product. Furthermore, bad perceptions regarding hemp products among common people are also hampering the growth of the global CBD gummies market. 


Technology Analysis


CBD gummies or cannabidiol gummies refer to chewy, sweet candies infused with cannabidiol. Cannabidiol or CBD is a medicinal compound extracted from hemp plants that are antagonistic in behavior to the psychoactive substance of the hemp plant, the THC. Therefore, these gummies have pharmaceutical applications for relieving stress, pain, anxiety, depression, insomnia, inflammation, and many more.  Moreover, CBD gummies are also used for the treatment of epilepsy.


There are three major types of gummies available in the market: full-spectrum, broad-spectrum and CBD isolate. The full spectrum gummies contain all of the hemp plant's cannabinoids including THC, the broad-spectrum gummies contain all cannabinoids but no THC. The isolate is the pure form of cannabidiol containing no other compounds from the hemp plant. Gummies are chewy pectin products available in different fruity flavors. 


Study Objectives


The specific objectives of this market report on the CBD gummies market report are given below:



  • To provide a complete overview of the market.

  • To analyze and forecast the market in terms of value and volume.

  • To provide information about the impact of covid 19 on the market.

  • To point out the problems and prospects of the market

  • To give technical details about the product.

  • To provide an overview of the regional markets and other market segments.

  • To identify the key players of the CBD gummies industry.


Segment Analysis


Segmentation of the global market, By Type



  • Full-spectrum CBD

  • Broad-Spectrum CBD

  • CBD Isolate


The CBD isolate segment accounts for most of the gummies type by holding about 52 % of the total market. This dominance is due to the rising demand for gummies having only cannabidiol. The other two types have some other compounds of the hemp plant including THC in the full spectrum type. Therefore, the majority of the consumers are refraining from the other two types. 


Segmentation of the global market, by Flavor



  • Berries

  • Lime

  • Peach

  • Apple

  • Blends

  • Others


Berries flavored CBD gummies are the most popular type globally. Their unique flavor and attractive colors attract more customers to choose the type. 


Segmentation of the global market, by Category



  • Conventional

  • Vegan


The conventional types dominate the market currently but the vegan type is increasing its market share. The growing awareness regarding the importance of vegan products is leading to a significant increase in the demand for vegan-type gummies.


Segmentation of the global CBD market, by Distribution Channel



  • Store-Based

  • Non-Store-Based


Non-store based segment is growing at a higher rate owing to the increasing penetration of the internet. One can get easy access to the products on online sites rather than searching for them in retail stores. The easy delivery process of e-commerce companies is attracting more customers to the non-store-based segment.


Regional Analysis


The different regional markets for the global market are:


North America



  • US

  • Canada

  • Mexico


Europe



  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe


 Asia-Pacific



  • China

  • India

  • Japan

  • Australia & New Zealand

  • Rest of Asia-Pacific


 Rest of the world ( RoW )



  • The Middle East

  • South America

  • Africa


North America holds the largest share of the global CBD gummies market. This dominance is due to the legalization of CBD gummies and increasing awareness about their medicinal properties. The 2018 US farm bill regarding the legalization of cannabidiol products is a major development towards market expansion in this region.


Europe also holds a significant share of the global CBD gummies market due to increasing awareness about the importance of cannabidiol. The greater population of health-conscious people in this region generates higher demand for the product.


The Market in Asia-pacific is growing with an increase in awareness about such products. Lessening restriction norms and increasing acceptance of the product will fuel the growth of the cannabidiol gummies market here. Similarly, the market in the Middle East and Latin America is also expanding significantly. The African segment is expected to grow at a moderate rate over the forecast period.


Competitive Landscape


The major global companies playing a key role in the CBD Gummies market are :



  • 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)


Recent Developments


In September 2021, Charlotte's Web, a leading hemp extract wellness products brand, announced the launch of three new Charlotte's Web™ Gummies to its gummies portfolio. The three gummies viz. New Daily Wellness, THC-Free, and Immunity gummies are now available online and across different retail stores in the US.


Intended Audience


This report will be beneficial for every stakeholder of the market such as :



  • CBD gummies manufacturer

  • Raw material suppliers

  • R&D institutes

  • Traders and distributors

  • Potential investors


Report Overview


This report from Market Research Future provides an in-depth analysis of the CBD Gummies market in terms of current value and future forecast. This report has also highlighted the problems and prospects of the given market.


Moreover, the technological analysis section of the report will help in knowing the product and its market prospects. Furthermore, this report contains a detailed analysis of different market segments for the current forecast period. This report has also identified the key players and the current developments in the CBD Gummies market. 

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 13.9 Billion
  CAGR   30.7% (2021-2028)
  Base Year   2020
  Forecast Period   2021-2028
  Historical Data   2019
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Flavour and Category, By Distribution Channel, and By Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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)
  Key Market Opportunities   Rising popularity of CBD-infused products for medicinal and recreational purpose across the US and parts of Europe has led to the growth.
  Key Market Drivers

  • Growing popularity of CBD products in health and wellness industry
  • Legalization for usage of CBD infused products for medicinal and recreational purposes
  • Effective marketing strategies
  • The advent of e-commerce platforms




  • Frequently Asked Questions (FAQ) :

    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)

    The growing popularity of CBD or cannabidiol products along with the increasing legalization of hemp cultivation are the major factors driving the growth of the global CBD gummies market.

    North America holds the largest share of the global CBD gummies market owing to greater awareness about cannabidiol and its benefits.

    The CBD isolate segment accounts for most of the gummies type by holding about 52% of the total market.

    Key Questions Answered

    • Global Market Outlook
    • In-depth analysis of global and regional trends
    • Analyze and identify the major players in the market, their market share, key developments, etc.
    • To understand the capability of the major players based on products offered, financials, and strategies.
    • Identify disrupting products, companies, and trends.
    • To identify opportunities in the market.
    • Analyze the key challenges in the market.
    • Analyze the regional penetration of players, products, and services in the market.
    • Comparison of major players’ financial performance.
    • Evaluate strategies adopted by major players.
    • Recommendations
    Request Free Sample

    Why Choose Market Research Future?

    • Vigorous research methodologies for specific market.
    • Knowledge partners across the globe
    • Large network of partner consultants.
    • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
    • Trusted by fortune 500 companies/startups/universities/organizations
    • Large database of 5000+ markets reports.
    • Effective and prompt pre- and post-sales support.
    Speak to Analyst
    Leading companies partner with us for data-driven Insights.
    Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo Client logo

    Kindly complete the form below to receive a free sample of this Report

    Please fill in Business Email for Quick Response
    Invalid