CBD Snacks Market Size, Share, Analysis, Trends, Growth Report 2030

CBD Snacks Industry Prospective:

The global CBD snacks market size was worth around USD 730.63 million in 2022 and is predicted to grow to around USD 2990.89 million by 2030 with a compound annual growth rate (CAGR) of roughly 19.26% between 2023 and 2030.

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CBD Snacks Market: Overview

Cannabidiol (CBD) snacks are edible food products made using the non-psychoactive compound of the cannabis plant. Unlike the other essential component of the marijuana or cannabis plant called tetrahydrocannabinol (THC), CBD does not cause any form of intoxication as compared to THC. Hence snacking items made of cannabidiol are considered safe for consumption. However, they act as an efficient way of relaxing or unwinding leading to becoming a new-age preference among the general population. Furthermore, CBD snacks are also considered healthy since they contain nutritional components such as minerals and vitamins. Several other advantages such as ease of consumption and anti-inflammation properties have further helped in enhancing the popularity of CBD snacks.

Some of the most common forms of snacks consisting of CBD include gummies, peanut butter, granola, popcorn, and protein bars. These products are developed in association with other ingredients that work in tandem with CBD to deliver accurate results. It is recommended that consumers must first consult doctors or medical professionals before incorporating CBD-based snacks into their daily routine since although most consumers report positive responses, the final impact on health may differ from one person to another. The industry for CBD snacks is rapidly expanding.

Key Insights:

• As per the analysis shared by our research analyst, the global CBD snacks market is estimated to grow annually at a CAGR of around 19.26% over the forecast period (2023-2030)
• In terms of revenue, the global CBD snacks market size was valued at around USD 730.63 million in 2022 and is projected to reach USD 2990.89 million, by 2030.
• The CBD snacks market is projected to grow at a significant rate due to the increasing launch of new CBD snacks
• Based on channel segmentation, offline was predicted to show maximum market share in the year 2022
• Based on type segmentation, gummies were the leading segment in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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CBD Snacks Market: Growth Drivers

Increasing launch of new CBD snacks will cater to a diverse set of consumers

The global CBD snacks market is expected to grow owing to the increasing launch of new CBD snacks catering to a diverse set of consumers. Cannabidiol snacks are carefully curated edible items that are expected to facilitate well-being in consumers without showcasing any form of severe side effects such as disorientation and paranoia. CBD snacks typically target complete nourishment and aid health benefits such as pain alleviation. The number of industry players offering a range of CBD snacks has increased rapidly in the last few years as a result of medical and social acceptance of cannabis in controlled quantities.

In December 2023, Rare Cannabinoid Company announced the launch of THC & tetrahydrocannabivarin (THCV) Uplift Gummies. These products are considered groundbreaking products since they leverage the appetite-controlling attributes of THCV and CBD while providing the surreal feel of Delta-9-THC. In November 2023, the company launched another range of gummies that contains Delta-9-THC derived from hemp, CBD, and CBD oil. The products are all vegan, natural, and available in green apple flavor. Similarly, in November 2023, Martha Stewart CBD launched a new range of CBD gummies in association with Canopy Growth Corporation and Marquee Brands LLC. The companies are expected to bring together consistent innovation techniques and flavor profiles under one roof with the aid of this association.

CBD Snacks Market: Restraints

Limited research on the positive health effects of CBD snacks could restrict market growth

The global CBD market is expected to register significant growth restrictions owing to the limited amount of qualitative and quantitative research on the positive effects of CBD snacks on consumer health as claimed by several product manufacturers. More research and analysis is needed to ensure the accuracy of these claims. In addition to this, while CBD snacks are generally considered safe for consumption, they can also induce some form of allergic reaction, especially in patients with a history of medical conditions. Moreover, some of the most common side effects include diarrhea, dry mouth, fatigue, drowsiness, and reduced appetite. Another significant growth restriction is the lack of sufficient policies that help ensure that the CBD content used in snacks is pure.

CBD Snacks Market: Opportunities

Rising legal status of CBD worldwide may create growth opportunities

The global CBD snacks market will register a higher push due to the increasing legal acceptance of cannabidiol worldwide. As public awareness about the positive health effects of CBD-derived products is growing steadily, the demand for CBD snacks will be directly impacted. Currently, CBD and its products are legal only in certain countries including European countries, the US, and Canada. However, more countries are either introducing new laws or making changes to the existing regulations that allow manufacturers to produce CBD snacks under controlled and monitored environments.

In 2022, Thailand legalized marijuana cultivation while nations such as Malaysia and South Korea are known to be putting efforts into creating a supporting regional infrastructure. The market players can leverage the growing acceptance rate and enter new markets to create a dedicated consumer base, especially in countries with a rising rate of spending habits.

Growing sales of CBD snacks through online sales portals hold vast expansion possibilities

CBD snack suppliers and producers are increasingly targeting the thriving e-commerce industry to reach new and remote customers. Companies are either partnering with e-commerce companies such as eBay or developing customized websites that facilitate online sales of CBD snacks. The latest trends in CBD snacks purchased through online portals include customized solutions and delivery.

CBD Snacks Market: Challenges

Intense regulatory frameworks guiding production and use of CBD snacks to challenge market growth

The global CBD snacks market growth will be challenged by the presence of an extremely intense regulatory framework surrounding the production and use of CBD across product range including snacking items. For instance, CBD in snacks can only be used in specific dosages since higher quantities may cause unwanted reactions. Incorrect labeling is a matter of concern for regulatory bodies as they continue to seek ways that encourage correct and accurate labeling of ingredients in CBD snacks.

CBD Snacks Market: Segmentation

The global CBD snacks market is segmented based on distribution channel, type, and region.

Based on distribution channels, the global market is divided into offline and online. In 2022, the highest growth rate was observed in the offline segment. It dominated more than 70.1% of the total market share owing to the higher product sales in offline units such as hypermarkets/supermarkets, discount stores, independent small groceries, and other facilities. Offline chains cater to regular customers. Since they offer in-personal product validation, CBD snacks are mostly sold through offline channels. During the projection period, the online mode is projected to grow at a CAGR of 17.1%.

Based on type, the global market is divided into cookies, bars, gummies, and others. In 2022, the gummies segment was the leading segment due to the immense popularity of CBD gummies. Most cannabidiol snack providers offer gummies among other forms. They are easy to consume and are ideal snacks while traveling. The standard dosage of CBD in gummies is around 5 milligrams per gummy. The growing number of product offerings in varying flavors along with higher marketing activities are associated with higher segmental growth.

CBD Snacks Market: Report Scope

CBD Snacks Market: Regional Analysis

North America to generate the highest results during the forecast period

The global CBD snacks market is expected to be dominated by North America during the projection period. In 2022, more than 30.5% of the global market share was led by the region. The leading reason for the higher regional growth rate is the legalization of CBD production and sale in Canada, Mexico, and the US in monitored doses and quantities. These nations have specific regulatory standards in place that govern the distribution of CBD-induced products including snacks. Out of 50 states in the US, 47 states and the District of Columbia legally allow the sale of CBD snacks and other products. The growing number of product offerings as well as higher consumer awareness plays a crucial role in shaping the regional market growth trend.

In August 2022, Good Brand announced the launch of a new peanut butter spread. The product is currently available in the US and will soon be launched in the Canadian market. The product does not contain any form of added sugar thus catering to the health-conscious consumer segment in North America. Europe is a prominent regional market as CBD snacks are increasingly consumed in several European nations. The high rate of CBD product manufacturers and their strategic selling techniques will aid further regional expansion.

CBD Snacks Market: Competitive Analysis

The global CBD snacks market is led by players like:

• Diamond CBD
• Charlotte's Web
• Verma Farms
• CBDfx
• Lord Jones
• Sun State Hemp
• Green Roads
• Kiva Confections
• Hemp Bombs
• CBDFx
• Medterra
• Green Gorilla
• PlusCBD Oil
• Joy Organics
• Weller
• cbdMD
• PureKana
• Elixinol
• JustCBD
• Koi CBD

The global CBD snacks market is segmented as follows:

By Distribution Channel

• Offline
• Online

By Type

• Cookies
• Bars
• Gummies
• Others

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