CBD Gummies Market Size, Share and Analysis By Concentration (High and Low), By Distribution Channel (Offline and Online), and Regional Forecast, 2024-2032

The global CBD gummies market is primarily driven by rising awareness about the medicinal properties of CBD in regions such as Europe and North America. Consumption of CBD gummies potentially relives anxiety, pain, inflammation, and depression, which is expected to boost the market growth. Furthermore, the increasing legalization of CBD in several countries such as U.S. is likely to escalate the market.

• In 2018, the U.S. farm bill passed for legalization of CBD products, which is considered as one of the most supportive government policies for boosting the demand of CBD gummies.


• The Food and Drug Administration (FDA) continues to assess the long-term safety of CBD (including less than 0.3% THC) and the cumulative effects of consuming various foods containing CBD.

With the growing demand of healthy confectioneries, the awareness about health benefits of CBD gummies is also increasing. The leading players are continually introducing innovative products to meet the growing demand. In addition, the product innovation and packaging-related modification are expected to play a pivotal role in boosting the sales of gummies and are projected to grow at the fastest rate during the forecast period.

• For instance, in December 2021, Chill Brands Group PLC, the international company which provides premium CBD products, launched its new range of CBD gummies which is available online in U.S. market.

The onset of euphoric "high" effect by CBD gummies takes one to two hours, but the effect lasts longer than that resulting from inhaling smoke or vapor. The increasing disposable income coupled with the lasting effect of gummies over smoking is also escalating the market.

Impact of COVID-19 on CBD Gummies Market

The CBD gummies market has seen a dramatic surge after the COVID-19 pandemic. The trend of stockpiling of products among consumers has been steadily increasing since the crisis. The outbreak has led to increase in anxiety, mental health, and insomnia, because of this the CBD products have been shown to be effective in reducing stress levels, thereby increasing the demand of CBD gummies significantly. In addition, the efficiency of e-commerce channels to provide contactless delivery have plummeted the sales of the product, which is further expanding the consumer base of the market.

Key Insights

The report will cover the following key insights:

• Product launched by key market players – For CBD Gummies Market


• Growing Health Consciousness and Medicinal Properties of CBD Products – For CBD Gummies Market


• Overview of CBD market - For CBD Gummies market


• Legalizing of Cannabis to Promote CBD Gummies Products


• Impact of COVID-19 on CBD Gummies Market

Analysis by Concentration

The low concentration segment is expected to hold major share as it is most popular among first time users as they prefer to avoid any side effects. After Therapeutic Goods Administration (TGA) pursued a safety evaluation of the CBD products, the health authorities of Australia are making CBD at low concentration available in low dosages. Thus, the demand of CBD gummies with low concentration is expected to increase in the coming years.

Analysis by Distribution Channel

The offline segment is expected to witness significant growth owing to opening of several dispensaries of CBD products. With the growing consumer demand for CBD gummies, the market players are opening new stores to provide convenient access to quality and legal CBD edibles, thereby contributing to the growth of this segment. However, the online segment is positively impacted after the pandemic because of closure of brick and mortar stores which is significantly effecting the growth of online segment.

Regional Analysis

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The North America region is expected to exhibit stellar growth owing to the growing legalization of recreational cannabis which includes CBD gummies as well. The gluten-free, sugar-free, vegan, and organic gummies made from non-GMO hemp plants are providing further opportunity to the market across the region to grow significantly.

Key Players Covered

The report will include the profiles of key players such as Charlotte's Web, Inc., CV Sciences, Inc., Aurora cannabis, CBD Capital Group, PotNetwork Holdings Inc., Sunday Scaries, Global Widget Llc, Heavenly Rx Ltd., Premium Jane, Village Farms International, Inc., and others.

Segmentation

Key Industry Developments

• In December 2021, Lazarus Naturals, a U.S based maker of high quality CBD, announced the launch of their CBD gummies line. Each of them are naturally derived from fruit flavors and fortifying ingredients such as minerals, herbs, vitamins, and adaptogens.


• In September 2021, Charlotte’s Web Inc., a leading company of hemp extract wellness product, announced the addition of its three new hemp CBD gummies to its gummy line. The product was launched to represent gummy as convenient and flexible CBD delivery format for consumers.