CBD Gummies Market Size, Share, Trends, Growth 2030

CBD Gummies Industry Prospective:

The global CBD gummies market size was worth around USD 2.5 Billion in 2022 and is predicted to grow to around USD 19.4 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 29.2% between 2023 and 2030.

The report analyzes the global CBD gummies market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the CBD gummies industry.

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CBD Gummies Market: Overview

One type of cannabidiol edible is CBD candies. These are the food products that include the medicinal ingredient from the cannabis plant known as cannabidiol (CBD). The delectable, convenient, and unique method to take CBD is through CBD gummies. Three types of CBD are used in various gummies: full-spectrum CBD, which includes all naturally occurring plant phytochemicals like terpenes, cannabinoids, oils, and traces of THC; broad-spectrum CBD, which includes all phytochemicals except THC; and CBD isolate, which is a purified form of CBD.

Key Insights

• As per the analysis shared by our research analyst, the global CBD gummies market is estimated to grow annually at a CAGR of around 29.2% over the forecast period (2023-2030).
• In terms of revenue, the global CBD gummies market size was valued at around USD 2.5 billion in 2022 and is projected to reach USD 19.4 billion, by 2030.
• The market for CBD gummies is expected to experience increased demand due to the rising use of cannabis for the treatment of psychiatric disorders, neurological disorders, cancer, and pain control.
• Based on the concentration, the low concentration CBD segment is expected to dominate the market over the forecast period.
• Based on the distribution channel, the offline segment is expected to capture the largest market share over the forecast period.
• Based on region, North America is expected to capture the largest market share during the forecast period.

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CBD Gummies Market: Growth Drivers

The growing prevalence of chronic disorders drives the market growth

The main reason driving the global CBD gummies market's expansion is the rising prevalence of chronic diseases like diabetes, neurodegenerative disorders, and others, as well as the efficiency of CBD products in treating these conditions. For instance, according to the Journal of Clinical Neurology in August 2021, epilepsy, which affects about 70 million people globally, is the third most prevalent neurological disorder after dementia and stroke. According to the WHO, there will be more than 55 million patients with dementia globally in 2021, and there will be almost 10 million new cases each year.

The most prevalent type of dementia, which accounts for 60–70% of instances, is Alzheimer's disease. According to a December 2021 article in the Journal of the Alzheimer's Association, there will be an estimated rise in dementia cases from 57.4 million in 2020 to 152.8 million in 2050. As a result, the market is expected to expand due to the rising prevalence of chronic diseases and the success of CBD products in treating these diseases.

CBD Gummies Market: Restraints

Adverse side effects impede the market growth 

Executive function impairment and mood disorders are both related to the consumption of CBD oil, which is prevalent in CBD gummies, in the human body. Other temporary side effects include vomiting, disorientation, paranoia, seizures, and severe anxiety. In many instances, a CBD oil overdose can result in a person's mortality. Therefore, these elements are limiting the CBD gummies industry’s development.

CBD Gummies Market: Opportunities

Innovative product launch offers an attractive opportunity

CBD gummies producers are introducing innovative products that are healthy and satisfy new consumer trends like organic, plant-based, gluten-free, and sugar-free. For instance, certified-vegan CBD gummies are available from Medterra CBD, a US-based producer of CBD products. Certified organic CBD oil gummies are available from CBDfx, a different US-based producer of CBD gummies. Additionally, businesses are concentrating on reducing the THC level of CBD gummies.

For instance, Reliva, a well-known American CBD brand and a division of Aurora Cannabis Inc., introduced KG7 in February 2022, a new range of premium CBD products aimed at adults who lead active lifestyles. Under this name, the business will sell pectin-based gummies with CBD isolate from hemp that is THC-free. Therefore, over the forecast period, producers in the global CBD gummies market are expected to benefit from lucrative growth prospects due to product innovation and new product development strategies.

CBD Gummies Market: Challenges

Stringent regulation poses a major challenge

The sale of CBD gummies has been prohibited as a result of stringent regulations regarding the consumption of cannabinoids, particularly in developing countries. CBD gummies are frequently perceived as something only necessary for intoxication. It is notorious for its detrimental qualities and adverse impacts on human health. However, many regions of the world severely prohibit the cultivation of cannabinoids. Thus, acting as a major challenge for the CBD gummies industry market growth during the forecast period.

CBD Gummies Market: Segmentation

The global CBD gummies industry is segmented based on concentration, distribution channel, and region.

Based on the concentration, the global market is bifurcated into the low and high. The low concentration CBD segment is expected to dominate the market over the forecast period. Gummies with a low CBD content, varying from 1 mg to 20 mg per gummy, are preferred by first-time buyers. The majority of businesses, including Charlotte's Web, Hemp Bombs, Green Roads, and CV Sciences, Inc., sell low-content gummies with 5 mg, 10 mg, and 15 mg of CBD per gummy.

Besides, the high concentration segment is expected to grow at the highest CAGR during the forecast period. In the near future, the segment growth is expected to be fueled by consumers' growing knowledge of the benefits of marijuana edibles for the treatment of sleep disorders. These high-potency CBD gummies are consumed by customers who want an additional CBD boost. These products, which are readily available in the market in a variety of flavors, assist consumers in unwinding from their fast-paced lives, lowering their levels of tension and anxiety, and improving their mood.

Based on the distribution channel, the global CBD gummies industry is segmented into online and offline. The offline segment is expected to capture the largest market share over the forecast period. Due to the pandemic's widespread closure of all brick-and-mortar stores, overall sales through offline channels dramatically decreased. Furthermore, because head shops are widely distributed around most major towns, they benefit from a sizable existing clientele and a committed local clientele.

Customers favor physical retailers when looking to buy genuine goods. CBD products are available from retail pharmacies with a particular prescription. On the other hand, the online segment is expected to grow at a rapid rate over the forecast period. The segment is anticipated to be driven by the hassle-free purchasing experience provided by Amazon and other online marketplaces. Operations are now simpler due to simple payment methods that adhere to various countries' regulatory requirements. To reach more consumers, major CBD gummy producers concentrate on internet distribution channels.

Recent Developments:

• In August 2022, the top manufacturer of CBD products, Cheef Botanicals, is prepared to introduce new Cannabinoids goods to the market. Cheef Botanicals was established by cannabinoid aficionados to offer organic, secure, and high-quality cannabinoid products. The recent introduction of CBD gummies seeks to revitalize the market for cannabinoids. Given that they come from organic farms, these CBD gummies are the finest ones on the market. They were created under the close supervision of the Cheef Botanicals personnel. The company's upscale development in California has been aided by more than 25 years of industry expertise.
• In December 2022, an innovative, instant delivery platform for customers' daily needs, Gopuff, and Medterra, a market leader in CBD products, announced a collaboration for the national distribution of their products. This past summer, Medterra officially debuted on Gopuff in a few markets for residents of Arizona, California, Pennsylvania, and Illinois. It has since expanded to 26 additional markets, with intentions to do so in 2022 and 2023. Gopuff now has more than 500 locations and delivers more than 4,000 products due to the grocery industry's exponential development of e-commerce over the past two years. To give Gopuff customers access to Medterra's selection of clean, scientifically formulated products that support pain relief, sore muscles, and a variety of other wellness concerns for both humans and pets, Medterra is pleased to join the extensive product lineup.
• In October 2022, Infusionz, a fully owned subsidiary of Upexi, has been acquired by Bloomios, Inc., a prominent manufacturer and wholesaler of hemp-derived nutraceutical, cosmetic, and pet products. Infusionz's portfolio of CBD gummy brand names and clients, along with the order flow, product formulations, manufacturing processes, tools, and sales staff that go along with them, are all included in the acquisition.
• In March 2022, the collaboration between Puration, Inc. and PAO Group Inc. on a new line of CBD nutraceuticals under PURA's Farmersville hemp brand name has been verified.

CBD Gummies Market Report Scope:

CBD Gummies Market: Regional Analysis

North America is expected to capture the largest market share during the forecast period

North America is expected to capture the largest share in the global CBD gummies market during the forecast period. The growth in the region is attributed to the legalization of cannabis for medical and recreational purposes. Industrial hemp can now be grown legally as long as plants have a THC concentration of no more than 0.3%, according to the Farm Bill of 2018. All 50 states in the nation have legalized CBD gummies, provided they are made from cannabis.

Over the projection period, these factors are anticipated to fuel demand for CBD gummies. Moreover, Due to the high incidence of chronic diseases and the growing demand for efficient therapeutic products, the United States is expected to dominate the global market. The market for CBD gummies is anticipated to expand in the US due to the expansion of research and development efforts in the biopharma industry. According to information from the Center for Rare Neurological Disease Research, about 200,000 Americans are affected by rare neurological diseases in the country. This increased demand for CBD gummies contributed to the region's market's expansion as the prevalence of these disorders and their associated complications grew.

Furthermore, major market players and cutting-edge technologies for product development are present, which should give this region a significant market share. For instance, Cheef Botanicals introduced Vegan CBD Gummies in August 2022 to increase the scope of its CBD offerings. The new release of CBD gummies seeks to revitalize the market for cannabinoids. Considering that they come from organic farms, these CBD gummies are the finest ones on the market. Thus, this is expected to drive the growth of the market in the region over the forecast period.

Europe is expected to grow at the fastest CAGR during the forecast period. This is a result of the growing acceptance of cannabis for both medicinal and recreational uses in the region, as well as growing investment in the cannabis industry in the region, which is driving up demand for CBD products in the region. On the other hand, the Asia Pacific is expected to grow at a moderate rate over the forecast period owing to the region's strict legal restrictions on the use of cannabis and CBD. However, it is anticipated that increasing demand for CBD products and growing awareness of the health benefits of CBD will propel market revenue growth in the region.

CBD Gummies Market: Competitive Analysis

The global CBD gummies market is dominated by players like:

• CHARLOTTE'S WEB
• CV Sciences Inc.
• Verma Farms
• BAEYS
• Balance CBD
• Medterra CBD
• CBDfx
• CBD Pure
• Kushie Bites
• PureKana
• Dixie Brands
• Premium Jane
• Diamond CBD
• Aurora Cannabis
• CBD American Shaman
• Sunday Scaries
• Medix CBD
• SaintyCo
• Hemp Bombs
• Reliva CBD 

The global CBD gummies market is segmented as follows:

By Concentration

• Low
• High

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa