Global CBD Gummies Market 2021-2027
Global CBD Gummies Market Size, Share &Trends Analysis Report by Concentration (High Concentration, and Low Concentration) By Distribution Channel (Online and Offline) Forecast, 2021-2027
The global market for CBD gummies is projected to have a considerable CAGR of around 28.0% during the forecast period. Growing consumer demand for healthy confectionaries has increased industry expenditure in the CBD gummies market. Millennials account for a significant portion of the demand for CBD gummies. Individuals suffering from depression, anxiety, inflammation, and sleep disorders have increased their demand for CBD dummies. As a result of rising demand, CBD gummies are now completely legal in various countries. This eventually creates opportunities for market participants to market their products with various flavors. The 2018 Agriculture Improvement Act, also known as the 2018 Farm Bill Act, allowed the industry to expand and sell hemp and hemp-based products from any part of the cannabis Sativa L plant. Furthermore, the emergence of vegan gluten-free, sugar-free, and organic CBD gummies, which are typically made from non-GMO hemp plants, is accelerating market growth. However, product availability in the CBD gummies market is limited, inhibiting the CBD gummies industry's growth.
The COVID-19 had a significant impact on the CBD Gummies market as these products proved to be effective in reducing stress levels and improving mental health in such uncertain situations, therefore there was an increase in demand for CBD gummies during the COVID-19 pandemic
The global CBD Gummies market is segment is based on the concentration and distribution channel. Based on concentration, the market is segmented into high concentration and low concentration. Further based on distribution channels, the market is classified into online and offline.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is the fastest-growing market for CBD gummies and the factors that are attributing the growth are an increase in the number of cannabis users. CBD products are legal in nearly every European country, with a few exceptions. The European Commission concluded in January 2019 to evaluate the Novel Food requirements to clarify CBD regulations.
The key players of the market include CBDfx, CV science Inc., Green Roads of Florida, LLC, Medterra CBD LLC, among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In April 2020, Medterra CBD launched functional CBD gummies 25mg of Medterra's pure CBD with premium ingredients and are THC free. The new products range includes Stay Alert CBD gummy, Sleep Tight CBD gummy, and Keep Calm CBD gummy. In such uncertain circumstances of COVID-19, Medterra was able to deliver such benefit-focused gummies that were much needed to enhance daily routine
The market study of the global CBD Gummies market is incorporated by extensive primary and secondary research conducted by the research team at OMR Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
Financial reports of companies involved in the market
Whitepapers, research papers, and news blogs
Company websites and their product catalog
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Global CBD Gummies Market Research and Analysis by Concentration
Global CBD Gummies Market Research and Analysis by Distribution Channel
The Report Covers
Comprehensive research methodology of the global CBD gummies market
This report also includes a detailed and extensive market overview with key analyst insights
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations
Analysis of regional regulations and other government policies impacting the global CBD gummies market
Insights about market determinants that are stimulating the global CBD gummies market
Detailed and extensive market segments with the regional distribution of forecasted revenues
Extensive profiles and recent developments of market players