The CBD Gummies market is anticipated to grow with a CAGR of 29.1% over the forecast period of 2019-2028. CBD gummies are a form of edible candies that contain cannabidiol (CBD) oil. These are foods containing the therapeutic compound CBD, which comes from the marijuana plant. Gummies or other edibles can be an easy, tasty, and discreet way of ingesting CBD. Some common reasons for taking CBD include pain management and relief from anxiety or depression. But because most CBD products are not FDA approved, strengths and purity can vary between brands and even within the same brand. The rising demand for CBD in medical treatments has led to legalization of these products which ha lead to an upsurge in the market. Furthermore, these are non-psychotic gummies, hence they do not cause any intoxication to the person and are safe for the patients.

Top Driver: Increasing Applications of CBD in Medicine to Drive the Market Intensively

The rising applications of cannabis to relive various ailments such as anxiety, depression, pain, inflammation and inducing sleep have lead the market towards an upsurge of growth. The CBD gummies are easy edibles that are preferred over various tablets to treat these ailments. Moreover the rising applications of CBD to treat neurological diseases, psychotic diseases and cancer has expected to drive the market widely in the future. Moreover, CBD gummies are replacing other edibles such as chocolates, cookies etc., especially for cannabis consumers. Such diverse applications are expected to drive the market immensely in the forecast period. The long lasting effect of cannabis edibles over smoking, is expected to drive the market widely as well.

Low Concentration gummies to Witness a High Growth in the Future

Based on the concentration, the CBD gummies are segmented into low and high concentrations. Based on distribution channel the market is segmented into online and offline.

The low concentration gummies are widely preferred by millennial. The side effects associated with high concentration gummies that include conditions such as diarrhea and tiredness has driven the market towards low concentration gummies. High concentration gummies are widely used for medicinal purposes in patients having sleep disorders, epilepsy, schizophrenia etc. Patients require high concentrated CBD for controlling the symptoms in these disorders. Also, the applications of marijuana in treatment of sleep disorder is expected to anticipate the market growth widely in future.

North America to Hold the Largest Market Share

North America is expected to be the largest market owing to the legalization of cannabis usage for medical applications. Legalization of cannabis in regions such as Canada has led to an upsurge for the market in the region. Also the rising launch of products in the region may also drive the market widely in the region. Europe is expected to witness high growth owing to the rising consumers in the region. New entrants in the region are trying to establish themselves are hence driving the European market.

Players to Focus on Expanding Product Portfolio

The global CBD Gummies market is expected to grow with a significant CAGR due to presence of various companies including CV Sciences, Dixie Brands Inc., Reliva CBD Wellness, Sunday Scaries, Green Roads CBD, Medix CBD, Hemp Bombs, Pure Kana, Diamond CBD, Premium Jane and others which are developing new products to drive the market growth.

CV Sciences, Inc:  CV Sciences, which is a supplier and manufacturer of hemp-derived phytocannabinoids, announced in 2018 that they launched a product called PlusCBD oil gummies at a Naturl Product Expo East, 2018. These products are expected to be available in two flavors cherry mango and citrus punch.

Smith & Sinclair:  Recently in November 2019, a new brand was launched by Smith & Sinclair, called Pollen. Pollen was launched in three ranges of products including drink drops, gummies and botanical soft drinks.

Scope of the Report

By Concentration

• High
• Low

By Distribution Channel

• Online
• Offline

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.