The global CBD gummies market is poised to acquire stellar gains, expanding at a CAGR of 28% from 2021 to 2031, according to a recently published report by Fact.MR. Growth is being accelerated by extensive campaigns to legalise commercial and recreational usage of cannabis.
From 2016 to 2020, the market accrued massive gains, registering an expansion rate of 25% CAGR throughout the historical period. CBD gummies are poised to witness credible uptake across the healthcare industry, amid purported reports of it being an effective remedy to insomnia.
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Key Segments Covered
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Concentration
- High Concentration CBD Gummies
- Low Concentrated CBD Gummies
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Distributional Channel
- CBD Gummies Sales through Offline Channels
- CBD Gummies Sales through Online Channels
A comprehensive estimate of the CBD Gummies market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of CBD Gummies during the forecast period. Price point comparison by region with the global average price is also considered in the study.
Key takeaways from the Market Study
- By concentration, demand for low concentration CBD gummies to generate 90% revenue
- Demand for high concentration CBD gummies expanding at a fast pace
- Consumers likely to favour online CBD gummies purchases, accounting for over 3 out of 5 sales
- Fast track regulatory approvals accelerating uptake across the U.S market
- Asia to contribute around 2 out of 5 sales of CBD gummies through 2031
“The healthcare sector is one of the biggest drivers in the CBD gummies market. CBD products, such as gummies, are becoming increasingly popular as an alternative to traditional analgesics such as ibuprofen, aspirin, and others due to its analgesic qualities.” – says the Fact.MR analyst.
Competitive Landscape
Canonical businesses dominate the CBD gummies industry. To get a competitive advantage, most market businesses are concentrating their efforts on gaining certifications from international organisations such as Possession of Certificate of Analysis (COA).
Verma Farms is one of those companies that have chosen to focus on a particular industry in order to become experts in that market. While their product selection isn’t extensive, it’s enough to get them on our list. In reality, they exclusively advertise as a CBD gummies company.
Hemp Bombs is yet another company based in the United States. This company ensures that all of their plant material is acquired from within the United States. Hemp Bombs strives to provide as much information on CBD to all of its customers as possible. This is why they have a number of articles on their website about their products and their benefits.
