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.
Global CBD Gummies Market Trends:
The convergence of CBD with functional ingredients targeting specific wellness needs, such as stress relief, immunity support, and cognitive enhancement, is strengthening the market growth. Moreover, the growing incorporation of adaptogens and botanical extracts into CBD gummy formulations to create synergistic blends that address holistic wellness is favoring the market growth. Furthermore, the rising popularity of personalized nutrition and customization, encouraging manufacturers to develop tailored formulations that meet individualized health needs and preferences, is creating a positive outlook for the market growth. In line with this, the widespread integration of data-driven insights and advances in technology to create personalized CBD gummies for optimizing factors, such as dosage, flavor profile, and desired health outcomes, is enhancing the market growth.
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Factors Affecting the Growth of the CBD Gummies Industry:
- Increasing Consumer Awareness and Acceptance of Cannabidiol (CBD):
The widespread acceptance and understanding of CBD's potential health benefits is one of the major factors driving the market growth. In line with this, the heightened awareness of its therapeutic properties, as it helps in alleviating various health issues, including anxiety, pain, inflammation, and sleep disorders, is fueling the market growth. Moreover, the increasing adoption of CBD gummies in the wellness industry, as consumers seek natural alternatives to traditional pharmaceuticals, is creating a positive outlook for the market growth. Along with this, they offer a convenient and discreet way to consume CBD, making them appealing to individuals who are hesitant to consume CBD oils or tinctures. Furthermore, the introduction of regulatory changes and the legalization of hemp-derived CBD in many regions, encouraging consumers to purchase CBD gummies, is contributing to the market growth.
- Widespread Expansion of Product Offerings and Rapid Innovation in Formulations:
The continuous expansion of product offerings and ongoing innovation in formulations are acting as growth-inducing factors. In line with this, the introduction of new flavors, formulations, and ingredient combinations that cater to diverse consumer preferences and dietary requirements is bolstering the market growth. Besides this, the growing utilization of advanced extraction techniques and high-quality ingredients to enhance the taste and potency of gummies, such as fruity flavors and exotic options, is fostering the market growth. Furthermore, the growing demand for CBD gummies that cater to specific dietary needs, such as vegan, gluten-free, and sugar-free options, is anticipated to drive the market growth. In addition to this, rapid innovations in formulations that combine CBD with other beneficial compounds, such as vitamins, minerals, and adaptogens, to enhance the overall wellness benefits of CBD gummies are stimulating the market growth.
- Expansion of the Retail Sector and E-commerce Accessibility:
The widespread accessibility of CBD gummies through various retail channels, including brick-and-mortar stores and online platforms, is contributing to the market growth. Moreover, the proliferation of CBD in specialty shops, pharmacies, and e-commerce platforms, making the gummies more readily available to consumers, is driving the market growth. Besides this, the expansion of retail outlets dedicated to CBD products, providing consumers with greater accessibility and convenience, is enhancing the market growth. In line with this, CBD specialty shops and wellness stores offer a curated selection of CBD gummies, allowing consumers to explore different brands and product variations in a supportive and educational environment. Additionally, the presence of knowledgeable staff members helps address consumer inquiries and provide personalized recommendations, positively impacting the market growth.
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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.
Global CBD Gummies Market Trends:
The increasing consumer inclination towards health and wellness products represents one of the key factors driving the growth of the CBD gummies market across the globe. This, coupled with CBD gummies being recognized for their potential health benefits, such as stress relief, pain reduction, and improved sleep is leading to a rise in demand, especially among health-conscious consumers which is fueling the market growth.
The market is also driven by the diversification of product offerings, with manufacturers introducing a variety of flavors, concentrations, and formulations to cater to different consumer preferences and needs. There's also a growing emphasis on quality and transparency in the production of CBD gummies, with consumers seeking products that are organic, non-GMO, and free from harmful additives. In addition to this, the relaxation of regulations and increasing legalization of CBD products in various regions, particularly in North America, is significantly driving the market growth.
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.
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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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