CBD Gummies Market Size, Share, Trends, Industry Analysis, Report 2024-2032

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:

The increasing integration of personalized wellness solutions, driven by advancements in consumer health data and technology, thereby creating the demand for tailored CBD products that cater to individual needs is boosting the market growth. Moreover, the growing availability of health tracking apps and wearable technology, which provide insights into a user's sleep patterns, stress levels, and overall wellness as companies can recommend or create CBD gummies that are optimized for each consumer’s unique needs is enhancing the market growth. Additionally, the introduction of subscription-based models, allowing consumers to receive personalized CBD gummies delivered regularly, thus enhancing convenience and encouraging long-term use, is fueling the market growth.

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Factors Affecting the Growth of the CBD Gummies Industry:

Increasing Awareness of Cannabidiol’s (CBD) Health Benefits: The growing awareness of the health benefits associated with cannabidiol (CBD) is contributing to the market growth. Moreover, the increasing recognition among consumers about the potential of CBD to alleviate various health issues, such as anxiety, chronic pain, insomnia, and inflammation, is enhancing the market growth. Additionally, the growing demand for natural alternatives to traditional pharmaceuticals, boosting the use of CBD gummies due to their convenience, discreet consumption, and precise dosing, is catalyzing the market growth. Furthermore, the perception of CBD as a natural, non-intoxicating compound that is free from the stigma associated with tetrahydrocannabinol (THC) is enhancing the market growth.

Expanding Legalization and Regulatory Support: The expanding legalization and regulatory support for CBD products are positively impacting the market growth. In line with this, the rising legislation of CBD cultivation, providing a clear legal framework for the production, distribution, and sale of CBD products, including gummies, thereby encouraging new entrants and investments, is acting as a growth-inducing factor. Along with this, the implementation of progressive regulations that support the commercialization of CBD is expanding the market growth. Moreover, the establishment of quality and safety standards for CBD products by regulatory agencies to enhance consumer trust is driving the market growth.

Rising Product Innovation and Diversification: The introduction of new formulations, flavors, and packaging options to cater to the diverse preferences of consumers is fueling the market growth. Moreover, the development of CBD gummies with varying concentrations of CBD to meet the needs of different consumer segments, such as those seeking mild relaxation and those requiring higher doses for therapeutic purposes, is enhancing the market growth. Additionally, the inclusion of other beneficial ingredients, such as vitamins, adaptogens, and herbal extracts, that enhance the functional appeal of these products is catalyzing 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.

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

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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 Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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