CBD-Infused Confectionery Market Insights and Industry Analysis by Product Type (Hard Candies, Soft Confectioneries), Category (Sugar-Based, Sugar-Free), by Distribution Channel (Store-Based, Non-Store-Based), and by Region (North America, Asia-Pacific, Europe, and the Rest of the World), Competitive Market Size, Share, Trends, and Forecast to 2028. CBD-Infused Confectionery Market Worth $10.42 Billion by 2028.
Related: Global CBD-Infused Beverages Market Share Up by 27.5% CAGR
New York, US, Aug. 23, 2021 (GLOBE NEWSWIRE) — CBD-Infused Confectionery Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “CBD-Infused Confectionery Market Information by Type, Category, Distribution Channel, and Region – Forecast till 2028”, the market is projected to cross USD 10.42 Billion by 2028 at 12.25% CAGR.
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Market Scope
CBD, or cannabidiol, is extracted from the Cannabis sativa family of herbal flowering plants. It includes both hemp and marijuana. It is also found in marijuana; however, it does not have nearly as much tetrahydrocannabinol (THC), the psychoactive ingredient in cannabis. CBD-infused candy is a consumer product that offers health benefits like anxiety, inflation, and sleeplessness treatment. CBD-infused candy must be chewed and eaten to be effective. It is also convenient to transport and can be drunk at any time of day.
Related: Global CBD Infused Cosmetics Market Poised for $ 2.22 Billion Growth in the Next 4 Years
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Competitive Landscape
- Cannabinoid Creations (US)
- Aurora Cannabis (Canada)
- Med CBDX (US)
- Dixie (US)
- Joy Organics (US)
- Folium Biosciences (US)
- CBD American Shaman (US)
- CBDfx (US)
- Diamond CBD (US)
- Medix Wellness LTD
Related: Top 5 Cannabis Beverage Stocks for 2020
Market Drives
The legalization of CBD production in a number of nations around the world is propelling the market forward. Consumer preference for preventative healthcare goods is growing, which is projected to propel the CBD-infused confectionary market forward. Furthermore, consumer demand for CBD-infused confectionary is expanding as awareness and product exposure grow. The CBD-infused confectionary industry is primarily driven by product innovation in terms of formulations and packaging. Along with traditional sweets, demand for CBD-infused confectionery has risen dramatically in recent years all around the world. Furthermore, rising CBD legalization in many parts of the world has boosted demand for CBD-infused confectionary, which is likely to continue throughout the projection period.
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Market Restraints
Despite its medical benefits, cannabis has negative consequences on human health. Heavy doses or long-term cannabis usage, according to research, can lead to addiction, altered brain development, decreased life satisfaction, and cognitive impairment. It has also been discovered that those who start using cannabis-based goods as teenagers have negative consequences. CBD is still debated as to its legality in many places for these reasons, and many nations have implemented strict limits on its use. The clinical research of cannabinoids is governed by a number of rules.
Related: CBDfx Launches CBD-Infused Pet Balm As Pet CBD Industry Continues to Skyrocket
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COVID-19 Analysis
According to a recent research report, the CBD business may expect high consumption, particularly among regular users, indicating how the market may perform in the coming weeks and months. Furthermore, in a survey of CBD users, 39% said they planned to use more CBD during the COVID-19 issue. This is especially true among Millennials and Gen Z customers, with 49% planning to use CBD more in the following weeks and months.
Related: Legal Cannabis Sales Forecast to Grow 21% Per Year Through 2024
A rapid spike in demand and sales has been recorded in nations where CBD consumption is permitted in the midst of the pandemic. Taking social distancing conventions into account, some countries and states in the United States have increased CBD-infused confectionary sales and delivery services through online channels. Following the CDC’s announcement of self-quarantine, the CBD business has experienced a surge in demand.
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Market Segmentation
The global CBD-infused confectionary market has been split into hard candies and soft confectioneries based on product type. In 2020, the soft confectioneries segment had a greater market share.
The global CBD-infused confectionary market has been classified into two categories: sugar-based and sugar-free. In 2020, the sugar-based segment had a greater market share.
The global CBD-infused confectionary market has been divided into store-based and non-store-based segments depending on distribution channel. In 2020, the store-based segment had a greater market share.
Regional Analysis
North America dominated the worldwide CBD-infused confectionary market in 2020, and this trend is likely to continue throughout the forecast period. CBD products have piqued the interest of consumers in the region, thanks to promising clinical research for treating a variety of disorders and possible health advantages. The CBD-infused confectionary industry is one of the fastest-growing areas of the total CBD market, according to MRFR data. Because of their appearance, CBD-infused confectionary items are appealing. In comparison to CBD oil or CBD pills, they also taste better.
The Asia-Pacific area is expected to be a lucrative market for CBD-infused confectionary makers. During the forecast period, it is expected to increase at the fastest rate. China, Australia, and New Zealand are the top hemp growers in Asia-Pacific, adding to the CBD-infused confectionary market.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
CBD-Infused Confectionery Market Worth $10.42 Billion by 2028
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