The Global CBD Gummies and Tinctures Market- Growth, Trends and Challenges
The CBD edibles market is segmented by source (Hemp, Marijuana), distribution channel (B2B, B2C: Hospital pharmacies, Online, Retail stores), end-use (Medical, Personal Use, Pharmaceuticals, Wellness, Food & Beverage, Others and geography ( North America, Europe, Asia Pacific)
Introduction
The global CBD gummies and tinctures market is a contributing segment of the global CBD products market. From a top-down perspective, Strategy Here has analyzed the global CBD market as a parent market to set the context in which the global CBD gummies and tinctures market will be analyzed.
CBD Tinctures are among the most popular CBD cannabis products due to their versatility. A classification under CBD oil, CBD tinctures can be added to virtually any food or drink or taken by themselves, which drove sales of CBD tinctures up 111.5 percent between Q1 of 2017 and Q1 of 2018. With the passage of the Farm Bill, extracting CBD from hemp is federally legal, though still closely regulated.
Table of Contents
Market Overview
The Global CBD gummies market is expected to grow to $6.95 billion by 2025
Growth momentum is expected to accelerate during the forecast period with 31.9% CAGR
The CBD gummies and tinctures market is registering high market growth due to their application in the medical field
North America is estimated to be the fastest and largest market for CBD Gummies and tinctures.
Key Trends
The overall industry is well on its way to being a consistent multi-billion-dollar sector of the economy and this growth is leading to rising levels of investment, both privately and publicly.
Revenue projections suggest that the medical segment of the market may surpass the recreational revenue segment in the next four years, as patients in states where marijuana is legal look for alternatives to opioids to treat their chronic pain.
Key Market Players
The key players in the CBD gummies market 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. Players in the tinctures market include Lazarus Naturals, Veritas Farms, Kanibi, CBDistillery and 4cornerscannabis.
The market is highly fragmented in nature, as a large number of manufacturers actively engage in product launches and mergers and acquisitions to gain greater market share.
Growth Drivers and Challenges
A rise in the legalization of cannabis for medical and recreational purposes is a major factor supporting the demand for Cannabidiol (CBD) gummies
The increasing use of cannabis for the treatment of neurological disorders, psychiatric disorders, and cancer along with pain control is anticipated to drive the demand for CBD gummies.
Cannabis consumers are looking for alternatives to smoking cannabis, which is projected to drive the demand for gummies, tincture, and chocolates among other edibles.
Despite the opportunities, there are some challenges that remain. The presence of stringent regulations and the high cost of CBD products are some of the major factors restraining the growth of the market for cannabidiol. Moreover, the absence of legalization programs in several Asian, Middle Eastern and African countries is another key factor impeding the growth of the CBD market.