CBD Snacks Market to Grow with a CAGR of 10.8% Globally through to 2028
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 TechSci Research report, “Global CBD
Snacks Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global CBD Snacks Market stood at USD 712.5 million
in 2022 and is anticipated to grow with a CAGR of 10.8% in the forecast period,
2024-2028. The CBD snacks market has emerged as a dynamic and rapidly evolving
sector within the broader landscape of the CBD industry. Shaped by shifting
consumer preferences, regulatory developments, and a growing awareness of the
potential health benefits of CBD, this market presents a unique intersection of
culinary innovation and wellness trends.
The CBD snacks market is experiencing a trend towards
increasing regulatory clarity. Governments and regulatory bodies are
recognizing the need for standardized regulations to address the burgeoning CBD
industry. This trend is essential for establishing clear guidelines on product
formulations, labeling requirements, and permissible CBD concentrations. As
regulatory frameworks continue to evolve, companies operating in the CBD snacks
market must stay informed and adapt their practices to ensure compliance while
capitalizing on the expanding opportunities within the regulated space.
Browse over 26 market data Figures spread
through 181 Pages and an in-depth TOC on "Global CBD Snacks Market”
The alignment of CBD snacks with broader wellness and
functional snacking trends is a prominent theme. Consumers are seeking snacks
that not only satisfy their taste buds but also contribute to their overall
well-being. CBD, with its perceived stress-relief and relaxation properties, is
well-positioned to cater to this demand for functional snacks. CBD snacks are
being marketed as functional products that can complement a wellness-oriented
lifestyle. As this trend continues, brands that effectively communicate the
functional aspects of their products and align with broader health and wellness
trends are likely to gain a competitive edge.
An interesting development is the
increasing popularity of full-spectrum and broad-spectrum CBD snacks.
Full-spectrum CBD contains a range of cannabinoids, including trace amounts of
THC, while broad-spectrum CBD retains other cannabinoids but excludes THC.
Consumers are showing interest in these formulations due to the potential
synergy of cannabinoids, known as the entourage effect. This trend reflects a
growing understanding among consumers about the diverse compounds present in
the hemp plant and their potential combined benefits.
The accessibility of CBD snacks is
expanding beyond specialized dispensaries and health food stores. As regulatory
frameworks become clearer and consumer acceptance grows, CBD snacks are
increasingly finding space on the shelves of mainstream retailers, including
grocery stores and convenience stores. This trend reflects the normalization of
CBD products and their integration into everyday consumer routines. Retail
expansion provides brands with an opportunity to reach a broader audience,
including individuals who may not actively seek out CBD products. The trend
towards innovation in product formats and flavors presents opportunities for
diversification. Companies can capitalize on this trend by introducing new and
unique CBD snack offerings. Exploring different flavor profiles, textures, and
even collaborations with chefs or culinary experts can set products apart in a
competitive market.
The Global CBD Snacks Market is segmented into source,
product type, distribution channel, regional distribution, and company.
On the basis of types, the CBD snacks market has been
segregated into bars, gummies, cookies, and others. The gummies segment
constitutes a large share of the market, while the cookies segment is projected
to grow during the forecast period.
Based on region, North America dominated the CBD snack
market, accounting for major revenue in 2022. The United States of America is
positively contributing to market revenue. The presence of health-conscious
citizens, as well as the increasing consumption of CBD snacks, are driving the
growth of this market.
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 has witnessed robust growth
fueled by evolving consumer preferences, increasing acceptance of CBD, 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 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 Global CBD
Snacks Market.
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