CBD Gummies Market Overview Analysis:
CBD Gummies Market was anticipated at USD 998.2 billion in 2018 and is estimated to experience a reasonable growth rate (CAGR) of 31.9% throughout the foreseen period (2020-2025).
CBD Gummies Market by Concentration (Low, High), By Distribution Channel (Offline, Online), and Region, Market Share, Forecast Data, In-Depth Analysis, Detailed Overview, and Forecast, 2020-2025.
Market Developments and Growth Insights:
In April 2020, Medterra CBD has launched Functional CBD Sweets, which combines 25 mg of pure Medterra CBD with premium ingredients and is THC-free. The new line includes an attractive range of products to encourage manufacturers to focus on their sales.
An increase in the legalization of cannabis for medical and recreational purposes is an important factor supporting the demand for cannabidiol gummies (CBD). No trace of tetrahydrocannabinol (THC) content in the product is expected to further stimulate demand from consumers interested in this product for medical purposes. CBD sweets are not psychotropic, which means that sweets will not elevate consumers because they do not contain THC. The increase in the use of cannabis for the treatment of neurological disorders, psychiatric disorders and cancer, as well as pain control, is expected to boost demand for CBD sweets. A diverse cannabis application is expected to translate into a significant growth opportunity for the market in the coming years.
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Market Segmentation Analysis:
By concentration, the CBD Gummies market is divided into low and high concentrated products. The demand for high CBD Gummies is estimated to grow strongly during the forecast period. Patients with epilepsy, sleep disorders, schizophrenia, and glaucoma are the main consumers of highly concentrated CBD Gummies that contain more than 20 mg of CBD per gum
By distribution channel, the market is segmented online and offline. Regular consumers of CBD Gummies prefer online shopping because of its ease of use.
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Regional Segmentation Analysis:
The global CBD Gummies market has been categorized based on geography into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. North America is estimated to be the fastest and largest market for CBD gummies. Legalizing the use of cannabis for medical and recreational purposes is a major driver of regional demand. Canada legalized the use of cannabis for recreational and medical purposes in 2018
Market Major Key Players:
The global CBD Gummies Market is concentrated with leading players such as Premium Jane, CV Sciences, Diamond CBD, Pure Kana, Hemp Bombs, Medix CBD, Green Roads CBD, Sunday Scaries, Reliva CBD Wellness, and Dixie Brands Inc.
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