The global cannabidiol (CBD) Gummies market is anticipated to grow at a CAGR of around 28.0% during the forecast period. The rising consumer awareness of the numerous benefits of CBD gummies in curing inflammation, stress management, relieving pain, and improving sleep quality, is accelerating the market growth. Furthermore, the rising prevalence of various neurological and psychiatric disorders is driving the adoption of CBD gummies due to their non-psychotropic properties, which minimize the possibility of drug-induced sensations among consumers. Moreover, rapid urbanization, rising disposable incomes, and changing consumers' lifestyles are also majorly contributing to the growth of the CBD gummies market. In addition, the legalization of cannabis for medical and recreational purposes will also create new opportunities for the CBD gummies market during the forecast period. However, the lack of awareness about CBD gummies is projected to hinder market growth. 

Impact of COVID-19 on CBD Gummies Market

COVID-19 pandemic had a significant impact on the CBD gummies market, the consumers stockpiling for CBD products have been increased consistently during the COVID-19 pandemic. There has been an increase in anxiety, insomnia, and mental health issues as a result of the restrictions imposed and city lockdowns. As a result, these products have shown to be effective in reducing stress levels and driving the significant growth in demand for CBD products. Furthermore, online channels are also proving to be effective in the wider availability of these products and therefore contactless delivery made possible by e-commerce channels boosted the demand for these products even further. 

Segmental Outlook 

The global CBD Gummies market is segmented based on the concentration and distribution channel. On the basis of concentration, the market is segmented into high concentration and low concentration. Further based on distribution channels, the market is classified into online and offline.

Global CBD Gummies Market Share by Concentration, 2020 (%)

High concentrated gummies are projected to have the fastest CAGR in the global CBD Gummies market 

Among concentration, the high concentration segment is estimated to have significant CAGR in the CBD gummies market due to some contributing factors such as the growing consumer awareness of the benefits of marijuana edibles for the treatment of sleep disorders. Customers take these high-potency CBD gummies to get an extra CBD boost. These products are available in a variety of flavors in the market, that assist consumers in relaxing and feeling calm from their hectic lifestyles, as well as reducing stress and anxiety and enhances mood. Therefore, these benefits offered significant growth to the highly concentrated gummies segment. 

Regional Outlooks

The global CBD Gummies market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to have a significant share in the global market. Various development activities and extensive research take place in the US to test the medical properties of marijuana, therefore this has caught the attention of CBD brands in the region. The regional market is witnessing new revenue opportunities as a result of CBD brands' ongoing efforts to expand their portfolios and launch new products and as a result driving the growth of the CBD gummies market in the region. 

Global CBD Gummies Market Growth, by Region 2021-2027

Asia-Pacific is projected to grow significantly in the global CBD Gummies market during the forecast period. 

Geographically, Asia-Pacific is estimated to have considerable CAGR in the global CBD Gummies market during the forecast period. The growing demand for CBD gummies for medical and wellness purposes is propelling the market's growth rate in Asia-Pacific. Besides, the growing support of the government and legalizing the usage of these products in various countries is boosting the growth rate of CBD gummies in Asia-Pacific. The regional market is also driven by a growing number of people suffering from sleep disorders and epilepsy and an increasing demand for quality treatment services. Asia is a huge unexplored CBD market that represents the next enormous market opportunity to capitalize on the global secular trend toward CBD legalization. Other major factors driving market growth in the region include the region's growing scientific base and research capabilities, the expansion of the Asian pharmaceutical, food, and biologics markets, and the region's large base of (Contract Research Organization) CROs.

Market Players Outlook

The key players of the CBD Gummies market include CBDfx, CV science Inc., Green Roads of Florida, LLC, Medterra CBD LLC, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2020, Medterra CBD LLC introduced functional CBD Gummies, which is the latest addition to the company's comprehensive line of CBD products. During those uncertain times of the COVID-19 pandemic, the company was able to deliver three types of easily accessible, benefit-focused gummies meant to boost the daily routine of consumers. These are vegan-friendly gummies with the highest CBD concentration on the market that provides more than the power of CBD. Additionally, these gummies are designed to support one to stay focused, relaxed, and get a good sleep. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global CBD Gummies market
• Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.