Rohtak News Magazine

CBD Gummies Market To Hit Size Worth $6.94 Billion By 2025 With Top Key Players Are CV Sciences, Dixie Brands Inc., Reliva CBD Wellness, Sunday Scaries | Grand View Research, Inc.

 Breaking News
  • No posts were found

CBD Gummies Market To Hit Size Worth $6.94 Billion By 2025 With Top Key Players Are CV Sciences, Dixie Brands Inc., Reliva CBD Wellness, Sunday Scaries | Grand View Research, Inc.

March 05
01:40 2020
CBD Gummies Market To Hit Size Worth $6.94 Billion By 2025 With Top Key Players Are CV Sciences, Dixie Brands Inc., Reliva CBD Wellness, Sunday Scaries | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. The global CBD gummies market size was valued at USD 998.2 Million in 2018 and is expected to register a CAGR of 31.9% from 20 19 to 2025. A rise in legalization of cannabis for medical and recreational purpose is a major factor supporting the demand for Cannabidiol (CBD) gummies.

The global CBD gummies market size is expected to reach USD 6.94 billion by 2025, exhibiting a 31.9% CAGR over the forecast period, according to a new report by Grand View Research, Inc. The market is highly fragmented in nature owing to the presence of small and medium scale companies. Majority of the companies are based out of Canada owing to the legalization of cannabis in the country for medical and recreational purpose. The growth is driven by the growing trend of cannabis legalization across the globe. Different governments are legalizing marijuana to eradicate the black market and to boost the tax revenue from legal sales of marijuana products.

Growing consumer interest for cannabis edibles is expected to support the market growth. As per 4A’s, 36% of the Cannabidiol (CBD) consumers used edibles. Three-fourths of the participants associate consumption of CBD with at least one health benefit. Around 56% associate it with pain relief, 47% for anti-anxiety, 34% for sleep-aid, 30% for epilepsy, and 22% for socialization. The market players focus on the consumer trends for planning the business strategies. For instance, in 2019, Plus Products Inc., a California-based edibles company, entered into a partnership with mattress startup company Casper to introduce melatonin- and CBD-infused sleep gummies. The company also partnered up with American artist and philanthropist John Legend for promoting the products.

Key market players are CV Sciences; Dixie Brands Inc.; Reliva CBD Wellness; Sunday Scaries; Green Roads CBD; Medix CBD; Hemp Bombs; Pure Kana; Diamond CBD and Premium Jane. The market is highly fragmented in nature, as a large number manufacturers actively engage in product launches and mergers and acquisitions to gain greater market share.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/cbd-gummies-market/request/rs4

https://www.grandviewresearch.com/static/img/research/canada-cbd-gummies-market.png

The players operating in the CBD gummies market are expanding their reach through business partnerships. For instance, in 2019, Plus Products Inc. expands its product offering in Nevada Adult-Use market by signing a partnership agreement with TapRoot, a vertically integrated cannabis company operating with cultivation and manufacturing facilities in Las Vegas, Nevada.

CBD gummies manufacturers are coming up with new ways to create brand value and distribution channel. For instance, in 2018, the first cannabis dispensary in a hotel was established in The Standard Hotel for an LA-based cannabis company, Lord Jones. The hotel stocks the mini bar with canniabidiol gummies in its Los Angeles, New York, and Miami Beach locations.

Further key findings from the report suggest:

  • The high concentration segment is estimated to witness strong growth over the forecasted period. Epilepsy, sleep disorders, schizophrenia, and glaucoma patients are the major consumers of high concentrated CBD gummies with more than 20mg CBD content per gummy
  • The low/concentrated segment was estimated to be the largest segment in 2018. Newcomers are the major consumers of low CBD content gummies ranging from 1mg to 20 mg of CBD per gummy
  • North America is estimated to be the fastest and largest market over the forecast period. Legalization of cannabis for medial and recreational purpose is the major factor driving the regional growth
  • In Europe, U.K. is estimated to be the fastest growing market, owing to growing consumer demand. As per the Cannabis Trade Association, the number of CBD user in U.K. increased from 125,000 in 2016 to 250,000 in 2017
  • Some of the key players operating in the market include CV Sciences; Dixie Brands Inc.; Reliva CBD Wellness; Sunday Scaries; Green Roads CBD; Medix CBD; Hemp Bombs; Pure Kana; Diamond CBD and Premium Jane

To gain market share, the companies are focusing on merger and acquisition strategies. For instance, in 2019, Tilary acquired alcoholic cocktail gummy maker, Smith & Sinclair to create a line of CBD edibles. The product will be distributed in U.S. and Canada. This acquisition offers company an opportunity to diversify the product portfolio, differentiate themselves from others, and gain market share.

Have some specific queries about this report, our team of analyst will be glad to help!

 

https://www.grandviewresearch.com/static/img/research/global-cbd-gummies-market.png

 

The companies are also entering into partnerships with distributors. For instance, in 2019, CV Sciences, Inc. expanded their distribution partnership with more than 400 Kroger stores in five new states, including Georgia, Montana, Texas, Utah and Virginia. This partnership will help the company sell its product in 22 states and 1,350 stores across many of Kroger’s retail banners, including Kroger, Dillons, Fry’s, Fred Meyer, King Sooper, Mariano’s, Pick ‘n Save, QFC, and Smiths. The company also partnered up with Southeastern Grocers, Inc. to distribute the products in Florida and South Carolina. Tilray, Inc. in 2019, acquired all of the issued and outstanding securities of 420 Investments Ltd. (FOUR20), an adult-use cannabis retail operator headquartered in Calgary, Alberta.

The market is competitive in nature due to the rising number of new entrants. For Instance, in 2019, Pollen-a new CBD brand-was launched in U.K. offering luxury product, such as CBD gummies, drink drops, and sparkling drinks. Their CBD gummies are available in three flavors, namely, Cacao, lemon, and orange; Turmeric, cayenne, and grapefruit; and Honey and cherry. The companies are also launching new products to gain greater market share. For instance, in 2018, CV Sciences, Inc., supplier and manufacturer of hemp-derived phytocannabinoids announced the launch of PlusCBD Oil Gummies at the Natural Product Expo East 2018. These CBD gummies are available in two flavors-Cherry Mango and Citrus Punch-each containing 5 mg of CBD. They are also gluten free, vegan-friendly, and non-GMO.

Access complete  CBD Gummies Report Portfolio By Grand View research, Inc.

CBD gummies are non-psychotropic, which means that the gummies won’t give highness to consumers as they don’t contain THC. Increasing use of cannabis for treatment of neurological disorders, psychiatric disorders, and cancer along with pain control is anticipated to drive the demand for CBD gummies. Diverse application of cannabis is expected to result in significant growth opportunity for the market in the forthcoming years.

CBD Gummies are expected to replace the other consumables, such as chocolates, cookies, brownies, and confectionaries that are considered to be unhealthy. Also, as per FONA International, CBD gummies were the third most popular food related Google search in 2018. Also, the demand for CBD the gummies is majorly driven by millennials. Convenience in terms of carrying and consuming the product, is anticipated to bode well for the demand. Absence of THC in the product, is also expected to support the demand.

Grand View Research has segmented the global CBD gummies market on the basis of concentration, distribution channel:

CBD Gummies Concentration Outlook (Revenue, USD Million, 2015 – 2025)

  • High
  • Low/ Concentrated

CBD Gummies Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

  • Online
  • Offline

 

Check out special pricing options for sectional purchase and startup companies

By concentration, the CBD gummies market is bifurcated into high and low/ concentrated products. The demand for high CBD gummies is estimated to witness strong growth over the forecasted period. Patients of epilepsy, sleep disorders, schizophrenia, and glaucoma are the major consumers of high concentrated CBD gummies with more than 20mg CBD content per gummy. Growing awareness among consumers regarding the advantages of the marijuana edibles for the treatment of sleep disorders is anticipated to fuel the segment growth in near future.

Low/ concentrated CBD gummies was estimated to be the largest segment in 2018. First time buyers prefer low content gummies ranging from 1 mg to 20 mg of CBD per gummy. Uncertainty and side effects such as tiredness, diarrhea, and changes in appetite and weight with the consumption of high CBD is anticipated to drive the demand for low concentration products. Low price is also projected driving the demand among consumers, buying the CBD gummies for general heath purpose, socialization, and first timers. Growing popularity among millennials is anticipated to further drive the demand in near future.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/cbd-gummies-market

Related Articles