CBD gummies are candies that contain Cannabidiol oil. They are available in different colors, shapes, and flavors with the concentration of CBD. CBD gummies are non-psychotropic, which means that they do not contain Tetrahydrocannabinol (THC). These dummies are used to relieve anxiety, depression, pain, inflammation, and induce sleep. The legalization of cannabis for medical and recreational purposes has increased the demand for CBD gummies. Cannabis is also used for the treatment of neurological disorders, and cancer.
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COVID-19 Scenario Analysis:
- COVID-19 has deeply impacted the global economy.
- Where other industries are facing a downfall in the demand, the food and beverage industry has a high demand.
- An increase in the demand for frozen foods goods has affected the supply chain.
- The companies are having a hard time meeting the demand due to lack of supply.
- The supply networks are disrupted due to lockdown and restriction in transportation.
- The companies are using online platforms to meet the demand.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The increase of cannabis in the treatment and legalization of cannabis are the factors that drive the growth of the global CBD gummies market. Apart from that, diverse uses of cannabis and the growing interest of consumers toward cannabis edibles are the factors that boost the growth of the global market. Consumers are viewing alternatives for smoking cannabis, which has also increased the demand for CBD gummies. However, the effects of products and availability of substitute products restrains the growth of the global CBD gummies market. An increase in the awareness of consumers can replace the demand for unhealthy confectionaries with CBD gummies. The removal of THC from the product has greatly supported the demand for such products.
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The companies are launching products that have a variety of fruit flavors with natural ingredients and no artificial colors or preservatives. The companies are also producing products that boost health. The manufacturers are focusing on providing CBD gummies with benefits for sleep, anxiety, and depression. For instance, Charlotte’s Web launched Calm Gummies, which contains L-theanine and lemon balm that helps in stress relief and focus on calmness.
Top Key Players: Aurora Cannabis Inc., Canopy Growth Corp., Dixie Brands Inc., Sunday Scaries, Green Roads CBD, CBD American Shaman LLC., CV Science Inc., Medix CBD, Reliva CBD Wellness, Elixinol Global Ltd
Key Benefits of the Report:
- This study presents the analytical depiction of the global CBD gummies industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global CBD gummies market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global CBD gummies market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global CBD gummies market analysis based on competitive intensity and how the competition will take shape in the coming years.
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