Increasing popularity of CBD and the growing demand for healthy snacks are factors driving the Global CBD Snacks market in the forecast period 2024-2028
According to the TechSci Research report titled "Global CBD Snacks Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the market reached USD 712.5 million in 2022 and is projected to grow at a CAGR of 10.8% during the forecast period of 2024-2028. The CBD snacks sector, situated within the broader CBD industry, is evolving dynamically, influenced by changing consumer preferences, regulatory advancements, and a heightened awareness of CBD's potential health benefits. This market represents an intriguing intersection of culinary innovation and wellness trends.
Increasing regulatory clarity is a noteworthy trend in the CBD snacks market. Governments and regulatory bodies are recognizing the necessity for standardized regulations to address the growing CBD industry, providing clear guidelines on product formulations, labeling, and permissible CBD concentrations. Staying informed and adapting practices for compliance while leveraging expanding opportunities within the regulated space is crucial for companies in this evolving market.
Browse over 26 market data Figures spread through 181 Pages and an in-depth TOC on "Global CBD Snacks Market”
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CBD snacks aligning with broader wellness and functional snacking trends is a significant theme. Consumers seek snacks contributing not only to taste satisfaction but also to overall well-being. CBD, with perceived stress-relief and relaxation properties, caters to this demand for functional snacks. CBD snacks are positioned as products complementing a wellness-oriented lifestyle, presenting an opportunity for brands that effectively communicate their functional aspects and align with broader health trends.
The rise of full-spectrum and broad-spectrum CBD snacks is an interesting development. Full-spectrum CBD includes various cannabinoids, including trace amounts of THC, while broad-spectrum CBD retains other cannabinoids but excludes THC. Consumers show interest in these formulations due to the potential synergy of cannabinoids, known as the entourage effect, reflecting a growing understanding of the diverse compounds in the hemp plant and their combined benefits.
The accessibility of CBD snacks is expanding beyond specialized dispensaries and health food stores, finding space on mainstream retailers' shelves. As regulatory frameworks clarify and consumer acceptance grows, CBD snacks integrate into everyday consumer routines, providing brands with an opportunity to reach a broader audience. The trend towards innovation in product formats and flavors offers opportunities for diversification, allowing companies to introduce unique CBD snack offerings.
The Global CBD Snacks Market is segmented into source, product type, distribution channel, regional distribution, and company. The gummies segment holds a significant share of the market, with the cookies segment projected to grow during the forecast period. North America, led by the United States, dominates the market, driven by health-conscious citizens and increasing CBD snack consumption
Major companies operating in Global CBD Snacks Market are:
· ZBD
· LivityFoods LLC
· VELOBAR
· Naturebox
· Weller
· Evo Hemp
· CBD American Shaman
· Dixie Brands Inc.
· Premium Jane
· Pure Kana
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“The CBD snacks market's robust growth is fueled by evolving consumer preferences, CBD acceptance, and regulatory advancements. As regulatory clarity emerges, the market expands into mainstream retail, reaching a broader audience. Innovative product formats and flavors, coupled with an emphasis on health and wellness, contribute to the market's dynamism. The surge in sustainable practices and ethical considerations further propels growth, appealing to conscious consumers. With diversified product offerings and a global expansion trajectory, the CBD snacks market continues to thrive, reflecting the ongoing integration of CBD-infused snacks into everyday lifestyles worldwide,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“CBD Snacks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Marijuana, Hemp, Others), By Product Type (Gummies, Bars, Cookies, Others), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Pharmacy/Drug Stores, Online, Others), By Region, By Competition, 2018-2028,” has evaluated the future growth potential of the Global CBD Snacks Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global CBD Snacks Market.
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