According to a recent report by Future Market Insights, market research and competitive intelligence provider, sales of CBD snacks are estimated to reach a value of USD 2.5 Bn by 2032, surging at a 13.2% CAGR through the decade.
Cannabidiol demand is surging at an incredible rate, with growing applications in a diverse range of interconnected services and industries. CBD, which has been lauded by numerous experts for its extensive health benefits while avoiding the psychoactive effects of THC, is gaining widespread market acceptance around the world.
CBD markets are estimated to grow by 50% per year between 2021 and 22. Adoption rates are gradually increasing and will continue to rise as more people become aware of the issue. Each year, new medicinal and therapeutic uses are discovered as commercial manufacturing continues to produce an expanding variety of food products infused with CBD.
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Key Takeaways from Market Study
- North America dominated the CBD snack market, accounting for more than 30% of revenue in 2021. The United States of America is positively contributing to market revenue.
- China is making a positive contribution to market revenue. China is one of the world’s largest cultivators.
- In 2021, the berry segment had a market share of more than 35%.
- In 2020, the offline distribution channel had a market share of more than 70%.
- From 2022 to 2032, the fastest CAGR is expected to be 17% for the online distribution channel segment.
“The CBD-infused snacks market is being driven by the growing popularity of CBD-infused snacks due to their therapeutic properties, as well as changes in consumer food habits,” says a lead analyst at Future Market Insights.
Competitive Landscape
Partnerships, associations, affiliations, mergers, and collaborations are among the strategies used by new entrants. With the help of these strategies, new players can gain crucial and much-needed market exposure that will assist them in understanding the dynamics of the global CBD snacks market.
Some of the key players in the CBD Snacks Market include ZBD, LivityFoods LLC, VELOBAR, Naturebox, Weller, Evo Hemp, CBD American Shaman, Dixie Brands Inc., Premium Jane, Pure Kana, and Just CBD.
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Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of CBD snacks presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
CBD Snacks Market by Category
By Type, CBD Snacks Market is Segmented as:
- Gummies
- Bars
- Cookies
By Distribution Channel, CBD Snacks Market is Segmented as:
- Hypermarkets/Supermarkets
- Convenience Stores
- Discount Stores
- Pharmacy/Drug Stores
- Food and Drink Specialty Stores
- Independent Small Groceries
- E Retailers
By Region, CBD Snacks Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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Frequently Asked Questions
- At what rate will the CBD Snacks Market grow?
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- What are the key strategies adopted by the major players of the CBD Snacks Market?
- Who are the key players in the CBD Snacks Market?
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