CBD Gummies Market to hit USD 16.05 Bn by 2029 at a CAGR of 29.2 percent
The increasing legalization of cannabis and its derivatives, along with the growing trend of self-medication, are forecasted to fuel the demand for CBD gummies in the coming years.
(EMAILWIRE.COM, July 20, 2023 ) Maximize Market Research expects, the CBD Gummies market to grow from USD 2.67 Bn in 2022 to USD 16.05 Bn in 2029 at a CAGR of 29.2 percent.
CBD Gummies Market Report Scope and Research Methodology
The research methodology for the CBD gummies market includes data collection from primary and secondary sources, validation through primary research, and analysis to provide valuable insights. Market size estimates and forecasts are adjusted for various factors, using a bottom-up approach and multiple data triangulation methods. Major companies are identified through secondary research, and extensive primary research verifies crucial numbers.
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CBD Gummies Market Dynamics
The growth of the CBD gummies market is driven by increasing consumer awareness of CBD's health benefits and the demand for natural and organic supplements. The market growth is fueled by the adoption of CBD products for medical purposes and the focus of major players on product innovation and partnerships. The market offers growth opportunities such as the legalization of cannabis, e-commerce platforms, and the use of CBD in skincare products.
CBD Gummies Market Regional Insights
North America dominated the CBD gummies market, driven by cannabis legalization and increasing demand from health-conscious consumers. Europe is expected to grow due to awareness of CBD's health benefits and cannabis legalization.
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CBD Gummies Market Segmentation
By Concentration
Low
High
By Distribution
Supermarket & Hypermarket
Head shops
Smoke shops
Local health stores
Others
Online Retail
By Packaging
Pouches
Bottle
Jar
Tin
Others
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CBD Gummies Key Competitors include:
CV Sciences Inc. (US)
Charlotte's Web Holdings Inc. (US)
Medix CBD (US)
Green Roads (US)
Hemp Bombs (US)
Verma Farms (US)
Hempzilla CBD (US)
Pure Kana (UK)
ZenBears CBD(UK)
Endoca (Denmark)
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
Cannabidiol Gummies Market - The market size is expected to grow at a CAGR of 31.5% throughout the forecast period, to reach USD 25.39 Bn by 2029.
Gummy Supplement Market– The Market size is expected to reach USD 17.46 Bn by 2029, at a CAGR of 12.6 % during the forecast period.
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