IMARC Group has recently released a new research study 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: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
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. The CBD gummies market is experiencing stable growth due to the increasing consumer interest in cannabidiol-infused products for their potential health benefits and convenient, legislative developments that are increasingly favoring CBD products and continuous innovation in flavor profiles and formulations of gummies.
Global CBD Gummies Market Trends:
Continuous innovation in product formulations, flavors, and packaging, which is attracting a broader audience and keeping the market dynamic, is acting as a growth-inducing factor. Additionally, the heightened awareness about the convenience and discretion offered by CBD gummies, making them appealing to a wide range of consumers, is fueling the market growth. Besides this, the easy availability of CBD gummies in various retail channels, including online stores, pharmacies, and health food shops, which is increasing their accessibility, is fostering the market growth. Furthermore, the rising geriatric population, which is seeking alternative treatments for chronic pain and other age-related conditions, is bolstering the market growth.
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Factors Affecting the Growth of the CBD Gummies Industry:
Health and Wellness Trend: The burgeoning health and wellness trend is significantly fueling the growth of the CBD gummies market. Consumers have become increasingly proactive about their health, seeking natural and holistic remedies to maintain and improve their well-being. Cannabidiol (CBD), derived from the hemp plant, fits seamlessly into this paradigm due to its natural origin and perceived health benefits. Unlike pharmaceutical drugs, which often come with a range of side effects, CBD is viewed as a gentler, more natural alternative. Additionally, CBD gummies appeal to health-conscious consumers because they combine the therapeutic advantages of CBD with the convenience and enjoyable experience of a tasty treat. Furthermore, they are non-intimidating, easy to dose, and integrate smoothly into daily routines, making them an attractive option for those new to CBD and seasoned users.
Legalization and Regulatory Changes: The legalization of CBD and regulatory changes are playing a pivotal role in the rapid expansion of the CBD gummies market. These changes are not only decriminalizing hemp but also paving the way for the commercial production and sale of CBD products across the globe. Additionally, legalization has led to increased research and development (R&D), allowing companies to innovate and improve the quality and safety of CBD products. It has also facilitated broader distribution channels, making CBD gummies readily available in various retail outlets, from pharmacies to health food stores and online platforms. Furthermore, regulatory clarity has boosted consumer confidence, as people are more likely to try CBD products that comply with legal standards and undergo rigorous testing for quality assurance.
Increased Awareness and Education: The surge in awareness and education about CBD and its potential health benefits is a critical factor driving the growth of the CBD gummies market. Extensive media coverage, scientific research, and advocacy have shed light on the therapeutic characteristics of CBD. This growing body of knowledge has helped demystify CBD, separating it from the stigma associated with cannabis and highlighting its non-psychoactive nature. Consumers are now more informed about how CBD works within the body’s endocannabinoid system to promote balance and homeostasis. Furthermore, educational campaigns by health professionals, industry stakeholders, and influencers are also playing a significant role in disseminating information about CBD’s benefits for conditions like chronic pain, anxiety, insomnia, and inflammation.
Explore Full Report Description At: https://www.imarcgroup.com/cbd-gummies-market
CBD Gummies Market Report Segmentation:
By Concentration:
- High Concentration
- Low Concentration
Low concentration is favored by a larger segment of consumers as they seek mild therapeutic effects or introductory doses.
By Packaging:
- Pouches
- Bottles
- Jars
- Cans
Based on the 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
On the basis of distribution channel, the market has been classified into supermarkets and hypermarkets, head shops, smoke shops, local health stores, online, and others.
Regional Insights:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
North America’s dominance in the CBD gummies market is attributed to established regulatory framework, widespread consumer acceptance, and robust retail infrastructure.
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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