CBD-Infused Confectionery Market Size was valued at USD 4.5 Billion in 2022. The CBD-Infused Confectionery market industry is projected to grow from USD 5.05 Billion in 2023 to USD 12.73 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.26% during the forecast period (2023 - 2032). Consumer demand for CBD-infused confectionary is increasing due to increased product exposure and awareness are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for CBD-infused confectionery is being driven by the rising demanding of preventive health. Consumer inclination for preventive health goods is increasing, projected to drive the CBD candy market. Furthermore, many government and business organizations promote CBD research and development since it possesses several medical characteristics that may aid in treating a wide range of illnesses. The National Institute on Drug Abuse reports that the National Institutes of Health (NIH) supported 330 projects and spent USD 140 million on CBD research and development in 2017. CBD R&D is predicted to generate enormous prospects for CBD-infused confectionery industry competitors. With the changing rules of CBD as a novel food in Europe, companies must acquire a license before releasing CBD products.
CBD Confectionery is gaining popularity among cannabis consumers due to its flavor, package size, and potential mental health advantages. Brands are introducing CBD confectioneries into this rapidly developing market as customers become more aware of CBD's mental and physical health advantages. There has been significant progress in the legalization and regulation of cannabis for medical and recreational purposes. With the introduction of cannabis-infused goods, the demand for cannabis has surged substantially. Cannabidiol (CBD) product rules should be implemented and enforced to make CBD products safer for users.
Furthermore, cannabis is globally the most widely farmed, transported, and abused illicit substance. Cannabis, both recreational and medicinal, is gaining popularity in the United States, as indicated by legislative initiatives, ballot measures, and public opinion polls. The industry is evolving faster because of its expanding use in the cosmetics, food, and pharmaceutical industries. As people become more aware of the product's benefits, the market has immense development potential. The primary reasons driving market expansion are rising demand and greater legalization of cannabis, increased application of cannabis in cancer, and the health benefits of cannabis-infused products. In the future years, cannabis use in pet food, as well as increased demand for cannabis-infused beverages, will create major growth potential for industry participants.
Furthermore, as the epidemic continued, CBD-infused goods became a tempting choice for people spending more time at home, both as a source of entertainment and a means of relieving tension and worry. As a result, demand for these goods is increasing, propelling the CBD-infused goods Market forward. Additionally, the legalization of recreational cannabis in certain countries, increased demand for CBD-infused wellness drinks, rising consumer disposable income, and improved living standards drive market expansion during the projection period. Thus, driving the CBD-Infused Confectionery market revenue.
Based on product type, the CBD-Infused Confectionery market segmentation includes hard candies and soft confectioneries. The soft confectioneries segment dominated the market, accounting for 70% of market revenue. Chewing gum, candies, jellies, pastilles, and other products are included in this category. Soft confectioneries are becoming increasingly popular among customers because of the variety of flavors, colors, and forms available. Chewing gums function as a controlled release medicine delivery mechanism by slowly releasing active chemicals over time, resulting in a prolonged therapeutic impact.
The CBD-Infused Confectionery market segmentation, based on category, includes sugar-based and sugar-free. The sugar-based segment dominated the market, accounting for 65% of market revenue. Sugar-based CBD-infused candy is CBD-infused confectionery manufactured with sugar syrups as a basis. The population's decreased appetite for sugar-based products, including CBD-infused confectionary, poses various difficulties to the segment's growth. Consumers are shifting to sugar-free CBD-infused confectionery due to rising health awareness and the increasing prevalence of diabetes and other cardiovascular ailments. As a result, sales of sugar-based CBD-infused confectionery goods are declining.
The CBD-Infused Confectionery market segmentation, based on distribution channel, includes store- and non-store-based. The store-based category generated the most income (70.4%). Supermarkets and hypermarkets are likely the largest sub-segment because they sell the most CBD-infused candy. Key makers of CBD-infused confectionary prioritize promotional operations at various brick-and-mortar retailers to raise consumer awareness of the product, resulting in sector growth. Customers prefer store-based channels because they give a one-stop purchasing experience.
Figure 1: CBD-Infused Confectionery Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific CBD-Infused Confectionery market area will dominate this market, The ease of access, technological advancements in the manufacture and processing of products infused with CBD, changing attitudes towards CBD consumption for both medical and recreational purposes, a sizeable CBD consumer base, growing user awareness of the various medical benefits of CBD, and increasing investment from major players.
Henceforth, the main countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CBD-INFUSED CONFECTIONERY MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe CBD-Infused Confectionery market accounts for the second-largest market share due to the products' accessibility, technological developments in their production and processing, the prevalence of CBD consumers, shifting attitudes towards the use of CBD for medicinal and recreational purposes, growing user awareness of the various medical benefits of CBD, and increased investments from top players. Furthermore, the UK CBD-Infused Confectionery market expanded fastest in Europe, while the German CBD-Infused Confectionery market held the biggest market share.
The CBD-Infused Confectionery Market in North America is predicted to grow fastest between 2023 and 2032. rising consumer interest in CBD products and expanding cannabis legalisation across the U.S. With the legalisation of CBD in more states across the United States, prominent corporations are actively investing in the rapidly rising worldwide CBD-infused confectionary sector. Additionally, the US CBD-Infused Confectionery market had the quickest growth in the North America region, while Canada CBD-Infused Confectionery market had the greatest market share.
Leading industry companies are making significant R&D investments to diversify their product offerings, which will drive the CBD-Infused Confectionery market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The CBD-Infused Confectionery industry needs to provide reasonably priced goods to grow and thrive in an increasingly competitive and challenging market environment.
Local production to minimize operating costs is one of the key business tactics manufacturers use in the CBD-Infused Confectionery industry to support clients and increase the market sector. The CBD-Infused Confectionery industry has recently provided some of the most significant benefits. Major players in the CBD-Infused Confectionery market, including Tilray Brands, Inc, Ace Valley, and others, are attempting to increase market demand by investing in research and development operations.
Tilray Brands, Inc. is a medicinal, cannabis-lifestyle, and consumer packaged goods firm headquartered in New York City and U.S. incorporation. Along with operating in Latin America, Australia, New Zealand, Canada, and Australia, Tilray also has expanding facilities in Germany and Portugal. The business announced a merger with Aphria in December 2020; by pooling resources, the new Tilray company will create branded hemp and cannabidiol goods, and collaborate with Anheuser-Busch InBev to create craft beer and beverages infused with cannabis. In August 2021, Tilary Inc., a leading worldwide cannabis company, announced the development of medicinal cannabis edibles in CBD-rich gummies and chocolates. Patients in Canada can purchase the branded CBD chocolates, which will round out the company's wide range of goods.
The Ace Valley brand portfolio has been expanded by Canopy Growth Corporation, a leader in diversified cannabis, hemp, and cannabis device manufacturing, bringing to mGo Premium. Its mission is to unleash the full potential of cannabis to enhance lives, end prohibition, and empower communities. They provide products in high-quality dried flower, oil, soft gel capsule, infused beverages, edible, topical formats, and vaporizer equipment made by Canopy Growth and the market leader Storz & Bickel. We do this by leveraging user insights and innovation. Our international medical brand, Spectrum Therapeutics, leads the market in Canada and Germany and offers a variety of full-spectrum medications under its color-coded classification system. In February 2022, The Ace Valley brand portfolio has been expanded by Canopy Growth Corporation, new beverage and hard candy varieties. Daylight and Moonwave, the company's first-ever beverage offerings, are occasion-specific, ready-to-drink drinks with THC and CBD meant to assist people in starting and finishing their days. The company's first 20mg CBD-infused hard candy product is the recently released Citrus Ginger Super CBD hard candy.
CBD-Infused Confectionery Industry Developments
October 2022: CBD toilet paper, toothpaste, and even a bag of pumpkin spice cookies and potato chips are all available. Soon, CBD gummies created by none other than Martha Stewart, the domestic goddess, will be sold in shops. Even if most CBD products' supposed health advantages are untested, selling CBD oil can be lucrative.
October 2022: The newly developed vegan and gluten-free Tasteology Fruit Chews made their premiere in Massachusetts, according to vertically integrated multi-state cannabis operator Jushi Holdings Inc. The company also plans to introduce the new product line in Virginia, Ohio, and Nevada in Q1 2023. Tasteology Fruit Chews are available in three new varieties at Nature's Remedy dispensaries in Tyngsborough and Massachusetts,Millbury, and will continue to roll out to partner dispensaries in other states.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.5 Billion |
| Market Size 2023 | USD 5.05 Billion |
| Market Size 2032 | USD 12.73 Billion |
| Compound Annual Growth Rate (CAGR) | 16.26% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Category, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Cannabinoid Creations (US), Aurora Cannabis (Canada), Med CBDX (US), Dixie (US), Joy Organics (US), Folium Biosciences (US), CBD American Shaman (US), CBDfx (US), Diamond CBD (US), Medix Wellness LTD (UK) |
| Key Market Opportunities | Increasing R&D on Cannabinoid |
| Key Market Dynamics | Legalization of Cannabinoid (CBD) in Several Countries Across the Globe |
Frequently Asked Questions (FAQ) :
The CBD-Infused Confectionery market size was valued at USD 4.5 Billion in 2022.
The market is projected to grow at a CAGR of 16.26% during the forecast period, 2023-2032.
North America had the largest share in the market.
The key players in the market are Cannabinoid Creations (US), Aurora Cannabis (Canada), Med CBDX (US), Dixie (US), Joy Organics (US), Folium Biosciences (US),.
The Soft Confectioneries category dominated the market in 2022.
The store based had the largest share in the market.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
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