Global Cannabis Gummies Market – Industry Trends and Forecast to 2029

Market Analysis and Size

The industry's interest in CBD-based products has skyrocketed as a result of the general public's efforts to legalise marijuana for medicinal and recreational purposes. As a result of their non-psychotropic effects, CBD gummies have gained popularity among consumers. The growing range of medicinal applications for CBD gummies, such as neurological disorders, psychiatric disorders, and cancer therapeutics, is a key driver of the CBD gummies market's evolution.

Data Bridge Market Research analyses that the Cannabis gummies market which was valued at USD 13.3 billion in 2021 and is expected to reach the value of USD 108.49 billion by 2029, at a CAGR of 30.00% during the forecast period of 2022-2029.

Report Scope and Market Segmentation

Market Definition

CBD gummies are edible candies that contain non-psychoactive cannabidiol oil derived from the marijuana plant. These gummies are widely available in a variety of shapes, flavors, colours, and cannabidiol concentrations. CBD gummies are easily ingestible and aid in relieving chronic pain, reducing anxiety and depression, reducing stress, the treatment of insomnia and other ailments.

Cannabis Gummies Market Dynamics

Drivers

• Rising legalization of cannabis for medicinal and recreational purposes

The increasing legalization of cannabis for a variety of medical and recreational purposes, particularly across borders, is increasing demand for CBD gummies. Furthermore, rising consumer awareness of the numerous benefits of CBD gummies in treating inflammation, relieving pain, improving sleep quality, and stress management is propelling market growth.

• The rising prevalence of neurological and psychiatric disorders among population

The rising prevalence of several respiratory ailments caused by cannabis smoking has shifted consumer preference for CBD-infused edibles, such as CBD gummies. Furthermore, the non-psychotropic features of CBD gummies, which reduce the risk of drug-induced sensations among consumers, are boosting the adoption of CBD gummies due to the increased prevalence of various neurological and mental illnesses. Furthermore, the emergence of gluten-free, vegan, sugar-free, and organic CBD gummies, typically made from non-GMO hemp plants, catalyzes market growth.

Opportunity

One of the major contributors to the growth of the CBD gummies market is the healthcare sector. CBD gummies can help us control our bodies' inflammatory responses. CBD products, such as gummies, are gaining popularity as an alternative to traditional analgesics like ibuprofen, aspirin, and others. CBD has been discovered to have powerful anti-anxiety and anti-depressant properties. Furthermore, it has been shown to increase neurogenesis (brain cell growth) in key areas of the brain associated with anxiety and depression. All of these factors will play a significant role in driving market growth in the coming years.

Restraints

Most CBD products are not FDA-approved because their strengths and purity can vary between brands and even within the same brand, potentially resulting in less-than-desired positive outcomes. As a result, their use is restricted in a number of countries. Furthermore, the availability of substitutes such as CBD dark chocolates, salad dressings, and protein supplements is a significant impediment to effective adoption, limiting growth prospects.

This cannabis gummies market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabis gummies market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cannabis Gummies Market

COVID-19, like any other market, had a negative impact on the cannabis market. Consumers were discouraged from visiting brick-and-mortar stores as a result of the lockdown. However, many cannabis companies began to rely heavily on social media and e-commerce platforms to market to consumers during the year. The Alberta government designated cannabis retail shops, producers, manufacturers, distributors, and warehouses as essential services on March 30, 2020. As a result, throughout the COVID-19 pandemic, cannabis businesses and services continued to serve Albertans.

Recent Development

• Canopy Growth, one of the world's largest cannabis companies, announced in June 2021 that it had completed the acquisition of The Supreme Cannabis Company and had acquired 100 percent of Supreme's issued and outstanding common shares.
• STADA Arzneimittel AG, one of Germany's largest pharmaceutical firms, will enter the medical cannabis space in March 2021 with an agreement with Canadian firm MediPharm Labs for the launch of two flower products, with six more to follow
• TCV Sciences, Inc. announced the release of PLUSCBDTM calm and sleep gummies in May 2021, two flavorful gummies that support healthy stress responses and sleep cycles for people returning to their normal routines.
• Pfizer Inc. and GSK merged their respective consumer healthcare businesses in 2019 to form GSK Consumer Healthcare, a global consumer healthcare joint venture.

Global Cannabis Gummies Market Scope

The cannabis gummies market is segmented on the basis of concentration, distribution channel, type, preparation and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Concentration

• High
• Low

Type

• Solid Edible
• Topical Edible
• Inhalation
• Liquid Edible

Preparation

• Cannabidiol
• Tetrahydrocannabinol

Application

• Cancer
• Epilepsy
• Arthritis
• Multiple Sclerosis
• Alzheimer
• Anorexia
• Nausea

Distribution channel

• Online
• Offline

Cannabis Gummies Market Regional Analysis/Insights

The cannabis gummies market is analysed and market size insights and trends are provided by country, source, products, consumer, packaging, and sales channel as referenced above.

The countries covered in the cannabis gummies market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Global, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa.

The North American region, which has experienced significant year-on-year growth, is expected to drive the global CBD gummies market. The rising demand for recreational and medicinal marijuana and products for heart health, stamina, and bone health is a major driver of the CBD gummies market's expansion. Additionally, products aimed specifically at children are driving innovation, particularly those addressing immune and gut health, which are expected to gain traction in the coming years. The North American market may also see increased demand for vegan/plant-based products in various fruit flavours, which may contribute to the region's market development.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cannabis Gummies Market Share Analysis

The cannabis gummies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabis gummies market.

Some of the major players operating in the cannabis gummies market are:

• Canopy Growth Corporation (Canada)
• The Cronos Group (Canada)
• Tilray. (US)
• Hexo (Canada)
• CannTrust (Canada)
• Aurora Cannabis Inc. (Canada)
• GW Pharmaceuticals plc. (UK)
• VIVO Cannabis Inc. (Canada)
• Alkaline88, LLC. (US)
• NewAge Inc. (US)
• Cannara. (Canada)
• Dixie Brands (US)
• KANNAWAY LLC. (US)
• The Supreme Cannabis Company, Inc (Canada)
• CANNABIS Aphria (Canada)
• CURA CS, LLC. (US)
• KAZMIRA  (US)
• Curaleaf (US)
• CannazALL (US)    

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