CBD Gummies Market Is Predicted to Reach USD 12,182.21 Million by 2028 says, The Insight Partners

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

NEW YORK, UNITED STATES, November 17, 2022 /EINPresswire.com/ -- 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.

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CBD helps in reducing pain, anxiety, and stress. It has analgesic and anti-inflammatory properties that help in reducing muscle pain. CBD oil is used in a variety of products. CBD gummies are infused with a measured quantity of CBD oil and are one of the most accessible forms of CBD available for consumption in the market. The rising awareness regarding the health advantages of CBD-infused products is expected to boost the growth of the CBD gummies market. Moreover, the increasing availability of a wide range of products across different retail channels is projected to drive the CBD gummies market during the forecast period.

CBD is becoming popular among fitness enthusiasts, athletes, and sportspersons, as it helps in relieving performance-related stress and anxiety. Moreover, it also reduces muscle pain due to its analgesic effects. Celebrities are widely consuming CBD gummies as they help in improving their sleep. Thus, the growing adoption of CBD gummies by sports personalities and celebrities is driving the CBD gummies market. According to the 2019 Gallup Poll, 14% of the US consumers surveyed used CBD products, and 64% of them were familiar with CBD. CBD gummies resemble conventional gummies in terms of appearance and flavor. Moreover, they do not have a strong plant flavor like CBD oil. CBD gummies are one of the most readily available CBD products in various supermarkets and hypermarkets, drug stores, and pharmacies across the US. Due to their health benefits, the growing preference for CBD gummies is projected to drive the CBD gummies market during the forecast period.

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Key players operating in the global 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.

Based on category, the CBD gummies market is bifurcated into sugar-free and conventional. In terms of distribution channel, the market is segmented into specialty stores, online retail, and others. Based on geography, the CBD gummies market is segmented into North America, Europe, and the Rest of the World.

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.

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.

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Growing Awareness Regarding Health Benefits of CBD to Drive CBD Gummies Market