The global CBD gummies market size was worth around USD 2.5 Billion in 2022 and is predicted to grow to around USD 19.4 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 29.2% between 2023 and 2030.
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➤ The market is expanding due to the increasing prevalence of chronic disorders.
The primary factor contributing to the global CBD gummies market’s growth is the increasing prevalence of chronic diseases, including diabetes and neurodegenerative disorders, as well as the efficacy of CBD products in treating these conditions. For example, epilepsy, which impacts approximately 70 million individuals worldwide, is the third most prevalent neurological condition, following stroke and dementia, as reported by the Journal of Clinical Neurology in August 2021. According to the World Health Organization, the number of dementia patients worldwide will exceed 55 million in 2021, with nearly 10 million new cases annually.
➤ The market’s expansion is hindered by adverse side effects.
The consumption of CBD oil, which is commonly found in CBD gummies, is associated with both executive function impairment and mood disorders in the human body. Vomiting, disorientation, paranoia, seizures, and severe anxiety are additional transient side effects. A CBD oil overdose can frequently lead to an individual’s death. Consequently, these factors are impeding the growth of the CBD gummies industry.
➤ An appealing opportunity is presented by the introduction of a novel product.
Innovative CBD gummies are being introduced by producers to meet the demands of modern consumers, including those who prefer organic, plant-based, gluten-free, and sugar-free options. Medterra CBD, a US-based manufacturer of CBD products, offers certified-vegan CBD gummies. CBDfx, an alternative US-based manufacturer of CBD gummies, offers certified organic CBD oil gummies. Furthermore, businesses are emphasizing the reduction of the THC content in CBD gummies.
➤ Stringent regulations present a significant obstacle.
The sale of CBD gummies has been prohibited as a result of stringent regulations regarding the consumption of cannabinoids, particularly in developing countries. CBD gummies are frequently perceived as something only necessary for intoxication. It is notorious for its detrimental qualities and adverse impacts on human health. However, many regions of the world severely prohibit the cultivation of cannabinoids. Consequently, this presents a significant obstacle to the expansion of the CBD gummies industry market during the forecast period.
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The Global CBD Gummies Market is segmented based on product, application and region
Global CBD Gummies Market: Product Segment Analysis
● Low
● High
Global CBD Gummies Market: Application Segment Analysis
● Online
● Offline
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The global CBD Gummies market profiles key players such as:
● CHARLOTTE’S WEB
● CV Sciences Inc.
● Verma Farms
● BAEYS
● Balance CBD
● Medterra CBD
● CBDfx
● CBD Pure
● Kushie Bites
● PureKana
● Dixie Brands
● Premium Jane
● Diamond CBD
● Aurora Cannabis
● CBD American Shaman
● Sunday Scaries
● Medix CBD
● SaintyCo
???? Recent Developments:
• In August 2022, Cheef Botanicals, the leading manufacturer of CBD products, intends to introduce new Cannabinoids products to the market. In order to provide organic, secure, and high-quality cannabinoid products, Cheef Botanicals was founded by cannabinoid enthusiasts. CBD edibles have been recently introduced with the intention of revitalizing the market for cannabinoids.
• Bloomios, Inc., a prominent manufacturer and wholesaler of hemp-derived nutraceutical, cosmetic, and pet products, acquired Infusionz, a wholly owned subsidiary of Upexi, in October 2022. The acquisition encompasses Infusionz’s portfolio of CBD gummy brand names and clients, as well as the order flow, product formulations, manufacturing processes, tools, and sales personnel that are associated with them.
➤ It is anticipated that North America will hold the greatest market share during the forecast period.
In the global CBD gummies market, North America is anticipated to hold the largest share during the forecast period. The legalization of cannabis for medical and recreational purposes is the primary factor contributing to the region’s growth. The Farm Bill of 2018 has established that industrial hemp can now be produced legally, provided that the THC concentration of the plants does not exceed 0.3%. CBD gummies are now lawful in all 50 states of the United States, provided that they are derived from cannabis.
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