The global CBD gummies market is anticipated to grow at a considerable CAGR of 28.0% during the forecast period (2024-2031). The use of cannabis and CBD has become legal in many countries and the absence of traces of tetrahydrocannabinol (THC) content in the product is expected to drive demand among consumers. For instance, according to EU law, CBD oil must not contain more than 0.2% THC7, which applies to all European Union member countries. This means that oils and other products must be made from CBD-rich Cannabis varieties, particularly Cannabis Sativa L (CSL) varieties. The CSL varieties are officially legal in the EU with registration under the EU’s ‘Common Catalogue of Varieties of Agricultural Plant Species and also tetrahydrocannabinol (THC) content in the plant does not exceed a concentration of 0.2%.
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Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in May 2021, CV Sciences, Inc. has introduced PlusCBDTM Calm and Sleep, two flavourful gummies that promote healthier stress responses and sleep cycles for people resuming their normal routines. Each PlusCBDTM Calm gummy includes 10mg of CBD extracted from sustainable hemp, as well as two neuroactive amino acids: 5-HTP and L-Theanine. PlusCBDTM Calm and Sleep gummies involve no artificial flavoring or sweeteners, making them an appealing option for those looking for a natural means to facilitate their stress response and sleep cycle. With the introduction of the PlusCBDTM gummy line, the company supports many consumers’ sleep and relaxation in the face of stressful experiences that they are facing in such unprecedented times of the COVID-19 pandemic.
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Market Coverage
- Segment Covered-
o By Concentration
o By Distribution Channel
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- CBDfx, CV science Inc., Green Roads of Florida, LLC, Medterra CBD LLC.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global CBD Gummies Market Report Segment
By Concentration
- High Concentration
- Low Concentration
By Distribution Channel
- Online
- Offline
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