A new report from Research and Markets has projected the CBD gummy market to grow to £12.1bn by 2028 from $2.1bn in 2021.
The World Health Organization (WHO) has stated that CBD is not a narcotic, and since, the compound has been gaining huge traction across the globe.
Whilst CBD products such as oils, creams, balms and cosmetics are becoming more popular, the demand for food and drink items such as chocolates, coffees, gummies and drinks is also growing.
Read more: Waitrose to stock Cannaray CBD Gummies
Regions
The new report from Research and Markets explores the growth of CBD gummies market highlighting that CBD gummy consumption is proliferating rapidly across markets in Europe as manufacturers are focusing on lowering the THC content and using clean-label and organic ingredients.
CBD regulations in the region are becoming softer as authorities in EU Member States now regard CBD as a novel product for food, beverages and food supplements. These factors are projected to support the growth of the CBD gummies market across Europe over the coming years.
Read more: Zenbears – making CBD more accessible
This recent acceptance of CBD in the EU has allowed CBD gummy manufacturers to have a strong growth potential across European nations such as France, Germany, the UK and Poland.
Based on region, the report segments the CBD gummies market is into North America, Europe, and the rest of the world, stating that in 2020, North America held the largest share of the global CBD gummies market, whereas Europe is projected to register the fastest growth over the forecast period having a significant concentration of cannabis consumers.
Commerce
The report also segments the market into specialty stores, online retail, and others, stating that the specialty stores segment accounted for the largest market share in 2020, whilst the online retail segment is projected to grow at the fastest CAGR over the forecast period.
E-commerce platforms have registered significant growth as they provide lucrative services, such as home delivery, discounts, offers, cashback and to the customers – allowing them to choose among a wide range of products by comparing different alternatives available.
It also notes that CBD gummies brands are available on e-commerce platforms like Amazon meaning that the high availability of CBD gummies brands at affordable prices is one of the key factors driving the online retail segment.
To read the full report please visit www.researchandmarkets.com.
[activecampaign form=31]
