CBD Gummies Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category (Sugar-Free and Conventional) and Distribution Channel (Specialty Stores, Online Retail, and Others)
Publication Month: Feb 2022 | Report Code: TIPRE00017402 | No. of Pages: 120 | Category: Food and Beverages | Status: Published
The CBD gummies market was valued at US$ 2,133.48 million in 2021 and is projected to reach US$ 12,182.21 million by 2028. It is expected to grow at a CAGR of 28.3% from 2021 to 2028.
CBD gummies are chewable sweets infused with CBD oil. CBD oil has a lot of advantages. It helps in reducing pain and stress, owing to its anti-inflammatory and analgesic effects. Moreover, it improves sleep as it induces calmness by controlling anxiety. The regulations regarding the consumption of CBD products are different in various countries. However, CBD products with not more than 0.3% THC content are legal in the US. Manufacturers are launching 100% CBD isolate gummies with 0% THC due to the growing dispute regarding the THC content. This factor is projected to open new opportunities for the CBD gummies market over the forecast period.
North America held the largest share of the global CBD gummies market in 2020, while Europe is expected to grow significantly over the forecast period. CBD products are gaining huge traction in countries such as the US and Canada. The high influence of social media and celebrities on people, coupled with the rise in the promotion of CBD products by celebrities on their social media accounts, is projected to drive the regional market. Moreover, less stringent regulations in the US regarding the use of CBD products compared to other countries are expected to support the market growth of CBD gummies in North America. Furthermore, strong retail infrastructure and availability of a wide range of CBD gummies of different brands across various retail channels in the US are also projected to fuel the growth of the North America CBD gummies market over the forecast period.
Strategic Insights
Impact of COVID-19 Pandemic on CBD Gummies Market
The COVID-19 pandemic has affected many industries, including the food & beverages industry. The pandemic created operational difficulties because of lockdowns, business shutdowns, and supply chain disruptions. There was a mixed impact of the pandemic on the CBD gummies market. Initially, due to lockdowns and business shutdowns, manufacturers suffered from a shortage of raw materials and labor, which affected their production and supply. However, as people became more health-conscious, they preferred health-boosting products. CBD gummies experienced significant demand, owing to their medicinal effects. Moreover, as CBD helps reduce stress and anxiety, people preferred CBD products to reduce work-related and pandemic-related stress. These factors positively boosted the market growth. Moreover, as the vaccination rates are increasing and the government restrictions are relaxed, the market is further expected to witness positive growth in the coming years
CBD Gummies Market Breakdown – by Region
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Market Insights
Surging Influence of Social Media and Celebrities
Social media is playing a vital role in influencing the lifestyles of people. Many celebrities and influential personalities use social media to promote products. CBD products are widely used by celebrities and are heavily promoted on their social media accounts. For instance, influential personalities such as Seth Rogan, Snoop Dogg, Olivia Wilde, Jay Z, Danny DeVito, Wiz Khalifa, and Willie Nelson are promoting the use of CBD. Most celebrities have chosen to either launch their own brand or invest in a cannabis-based business. Celebrities and businesswomen such as Kim Kardashian and Martha Stewart use CBD gummies to improve their sleep. These celebrities have a large number of followers on social media platforms such as Instagram, Twitter, and Facebook. Thus, the rise in the promotion of CBD products, including CBD gummies, by celebrities and a high influence of celebrities on people are expected to drive the CBD gummies market in the future.
Category Insights
Based on category, the CBD gummies market is segmented into sugar-free and conventional. The sugar-free segment is projected to grow at the fastest CAGR over the forecast period. Sugar-free CBD gummies are ideal for consumers who prefer lowering their sugar intake and simultaneously enjoy CBD gummies' effects. Over the past few years, people have been highly concerned about the calories present in the foods and beverages they consume. The rising calorie-consciousness among people is driving the demand for sugar-free CBD gummies. Sugar-free CBD gummies can also be consumed by people who have diabetes. Many companies in the market offer sugar-free, vegan, gluten-free, and organic gummies. For instance, CBD American Shamans offers exclusive sugar-free and gluten-free CBD gummies to their calorie-conscious consumers. This factor is projected to drive the segment in the coming years.
CBD Gummies Market, by Category – 2020 and 2028
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Distribution Channel Insights
Based on distribution channel, the CBD gummies market is segmented into specialty stores, online retail, and others. The specialty stores segment accounted for the largest market share in the CBD gummies market in 2020. Specialty stores have a strong customer footfall and have a deep product assortment. Manufacturers of CBD gummies usually prefer to sell their products through specialty stores, owing to a heavy customer base. Moreover, specialty stores have trained staff that provides guidance to the customers while choosing the product. These factors are expected to boost the segment's growth in the coming years.
The key players operating in the CBD gummies market include Aurora Cannabis, Inc.; Canopy Growth USA, LLC; CBD American Shaman; CV Sciences, Inc.; Diamond CBD; CBDfx; Sunday Scaries; Medix CBD; Reliva CBD; and Fab CBD.
Report Spotlights
- Progressive industry trends in the CBD gummies market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the CBD gummies market from 2019 to 2028
- Estimation of global demand for CBD gummies
- Porter's five forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook as well as factors driving and restraining the growth of the CBD gummies market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the CBD gummies market size at various nodes
- Detailed overview and segmentation of the market, as well as the CBD gummies industry dynamics
- Size of the CBD gummies market in various regions with promising growth opportunities
Frequently Asked Questions
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
3.2.8 Limitations & Assumptions
4. Global CBD Gummies Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute
4.2.5 Competitive Rivalry
4.3 Expert Opinion
4.4 Value Chain Analysis
5. CBD Gummies Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Awareness Regarding Health Benefits of CBD
5.1.2 Rising Adoption Among Athletes and Sportspersons
5.2 Market Restraints
5.2.1 Stringent Regulations Regarding Production and Consumption of CBD
5.3 Market Opportunities
5.3.1 Product Innovations
5.4 Future Trends
5.4.1 Surging Influence of Social Media and Celebrities
5.5 Impact Analysis of Drivers and Restraints
6. CBD Gummies – Global Market Analysis
6.1 CBD Gummies Market Overview
6.2 CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Global CBD Gummies Market Analysis – By Category
7.1 Overview
7.2 CBD Gummies Market, By Category (2020 and 2028)
7.3 Sugar-free
7.3.1 Overview
7.3.2 Sugar-free: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
7.4 Conventional
7.4.1 Overview
7.4.2 Conventional: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
8. CBD Gummies Market Analysis – By Distribution Channel
8.1 Overview
8.2 CBD Gummies Market, By Distribution Channel (2020 and 2028)
8.3 Specialty Stores
8.3.1 Overview
8.3.2 Specialty Stores: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
8.4 Online Retail
8.4.1 Overview
8.4.2 Online Retail: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
9. Global CBD Gummies Market – Geographic Analysis
9.1 Overview
9.2 North America: CBD Gummies Market
9.2.1 North America: CBD Gummies Market – Analysis and Forecast to 2028 (US$ Million)
9.2.2 North America: CBD Gummies Market, by Category
9.2.3 North America: CBD Gummies Market, by Distribution Channel
9.2.4 North America: CBD Gummies Market, by Key Country
9.2.4.1 US: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: CBD Gummies Market, by Category
9.2.4.1.2 US: CBD Gummies Market, by Distribution Channel
9.2.4.2 Canada: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: CBD Gummies Market, by Category
9.2.4.2.2 Canada: CBD Gummies Market, by Distribution Channel
9.2.4.3 Mexico: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: CBD Gummies Market, by Category
9.2.4.3.2 Mexico: CBD Gummies Market, by Distribution Channel
9.3 Europe: CBD Gummies Market
9.3.1 Europe: CBD Gummies Market – Analysis and Forecast to 2028 (US$ Million)
9.3.2 Europe: CBD Gummies Market, by Category
9.3.3 Europe: CBD Gummies Market, by Distribution Channel
9.3.4 Europe: CBD Gummies Market, by Key Country
9.3.4.1 Germany: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.3.4.1.1 Germany: CBD Gummies Market, by Category
9.3.4.1.2 Germany: CBD Gummies Market, by Distribution Channel
9.3.4.2 France: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.3.4.2.1 France: CBD Gummies Market, by Category
9.3.4.2.2 France: CBD Gummies Market, by Distribution Channel
9.3.4.3 Poland: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.3.4.3.1 Poland: CBD Gummies Market, by Category
9.3.4.3.2 Poland: CBD Gummies Market, by Distribution Channel
9.3.4.4 Rest of Europe: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.3.4.4.1 Rest of Europe: CBD Gummies Market, by Category
9.3.4.4.2 Rest of Europe: CBD Gummies Market, by Distribution Channel
9.4 Rest of the World: CBD Gummies Market
9.4.1 Rest of the World: CBD Gummies Market – Analysis and Forecast to 2028 (US$ Million)
9.4.2 Rest of the World: CBD Gummies Market, by Category
9.4.3 Rest of the World: CBD Gummies Market, by Distribution Channel
9.4.4 Rest of the World: CBD Gummies Market, by Key Region
9.4.4.1 Asia-Pacific: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.4.4.1.1 Asia-Pacific: CBD Gummies Market, by Category
9.4.4.1.2 Asia-Pacific: CBD Gummies Market, by Distribution Channel
9.4.4.2 South and Central America: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.4.4.2.1 South and Central America: CBD Gummies Market, by Category
9.4.4.2.2 South and Central America: CBD Gummies Market, by Distribution Channel
9.4.4.3 Africa: CBD Gummies Market –Analysis and Forecast to 2028 (US$ Million)
9.4.4.3.1 Africa: CBD Gummies Market, by Category
9.4.4.3.2 Africa: CBD Gummies Market, by Distribution Channel
10. Overview- Impact of Coronavirus Outbreak
10.1 Impact of COVID-19 on CBD Gummies Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
11. Company Profiles
11.1 Dixie Brands
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Aurora Cannabis Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Canopy Growth Corporation
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Sunday Scaries.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Diamond CBD
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 CBD American Shaman
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 CV Sciences, Inc.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Medix CBD
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 CBDFx
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Elixinol
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Global CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 3. Global CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 6. US CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 7. US CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 12. Europe CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 13. Europe CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 15. Germany CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 16. France CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 17. France CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 18. Poland CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 19. Poland CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of Europe CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of the World CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 23. Rest of the World CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 24. Asia-Pacific CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 25. Asia-Pacific CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 26. South and Central America CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 27. South and Central America CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 28. Africa CBD Gummies Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 29. Africa CBD Gummies Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 30. List of Abbreviation
LIST OF FIGURES
Figure 1. Global CBD Gummies Market Segmentation
Figure 2. CBD Gummies Market Segmentation – By Geography
Figure 3. Global CBD Gummies Market Overview
Figure 4. CBD Gummies Market, By Tank Type
Figure 5. CBD Gummies Market, By Geography
Figure 6. Global CBD Gummies Market, Industry Landscape
Figure 7. Expert Opinion
Figure 8. Global CBD Gummies Market Impact Analysis of Drivers and Restraints
Figure 9. Geographic Overview of CBD Gummies Market
Figure 10. Global: CBD Gummies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. CBD Gummies Market Revenue Share, By Category (2020 and 2028)
Figure 12. Sugar-free: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
Figure 13. Conventional: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. CBD Gummies Market Revenue Share, By Distribution Channel (2020 and 2028)
Figure 15. Specialty Stores: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. Online Retail: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. Others: CBD Gummies Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Global CBD Gummies Market Revenue Share, by Region (2020 and 2028)
Figure 19. North America: CBD Gummies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. North America: CBD Gummies Market Revenue Share, by Category (2020 and 2028)
Figure 21. North America: CBD Gummies Market Revenue Share, by Distribution Channel (2020 and 2028)
Figure 22. North America: CBD Gummies Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. Europe: CBD Gummies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Europe: CBD Gummies Market Revenue Share, by Category (2020 and 2028)
Figure 28. Europe: CBD Gummies Market Revenue Share, by Distribution Channel (2020 and 2028)
Figure 29. Europe: CBD Gummies Market Revenue Share, by Key Country (2020 and 2028)
Figure 30. Germany: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. France: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. Poland: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. Rest of Europe: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of the World: CBD Gummies Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Rest of the World: CBD Gummies Market Revenue Share, by Category (2020 and 2028)
Figure 36. Rest of the World: CBD Gummies Market Revenue Share, by Distribution Channel (2020 and 2028)
Figure 37. Rest of the World: CBD Gummies Market Revenue Share, by Key Region (2020 and 2028)
Figure 38. Asia-Pacific: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 39. South and Central America: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 40. Africa: CBD Gummies Market –Revenue and Forecast to 2028 (US$ Million)
Figure 41. Impact of COVID-19 Pandemic on CBD Gummies Market in North America
Figure 42. Impact of COVID-19 Pandemic on CBD Gummies Market in Europe
Figure 43. Impact of COVID-19 Pandemic on CBD Gummies Market in Rest of the World
The List of Companies - CBD Gummies Market
- Dixie Brands
- Aurora Cannabis Inc.
- Canopy Growth Corporation
- Sunday Scaries
- Diamond CBD
- CBD American Shaman
- CV Sciences, Inc.
- Medix CBD
- CBDFx
- Elixinol
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global CBD gummies market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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