The global CBD Snacks market is expected to reach a market valuation of USD 712.5 Million by the year 2022, accelerating with a CAGR of 13.2% by 2022 to 2032. North America dominated the CBD snack market, accounting for more than 30% of revenue in 2021.
| Attribute | Details |
|---|---|
| CBD Snacks Market Size (2022E) | USD 712.5 Million |
| CBD Snacks Market Projected Size (2032F) | USD 2.5 Billion |
| Value CAGR (2022 to 2032) | 13.2% |
| Top 3 Countries Marketing Share | 33.2% |
CBD Snacks market sales are likely to account for a part of the demand in the global food processing market in 2022.
FMI analysis indicates that the implementation of stringent regulations associated with the product, as well as the high cost of medical cannabis-based oil extract-infused food products, are expected to stymie the growth of the CBD-infused snacks market.
Concerns about side effects such as allergies, headaches, and substance abuse are expected to challenge the CBD-infused snacks market during the forecasted period.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 13.1% |
| H1,2022 Projected (P) | 13.2% |
| H1,2022 Outlook (O) | 14.5% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 132 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 145.2 ↑ |
In the first half of 2021, the global market for CBD Snacks Market grew by 13.1 percent. Though not equally distributed throughout all regions, this growth is stronger in developing markets, where it reached 14.5%. Thus, during H1 2022, there will be a 145.2 BPS point difference between predicted and projected growth.
CBD snacks are a recent development in the CBD industry. CBD snacks are made with CBD oil, which is known for its therapeutic properties. People who use CBD oil to treat medical conditions say that it helps them feel better. CBD snacks are a great way to get the benefits of CBD oil without having to take a pill or swallow a liquid.
In recent years, CBD snacks have become increasingly popular. However, there are currently no regulations in place governing their production and sale. This has led to a wide variety of CBD snacks on the market, with some being of poor quality and others containing high levels of THC.
The lack of regulations also means that there is no standard for how much CBD is present in these snacks. As a result, it can be difficult for consumers to know how much CBD they are consuming and whether or not it will be effective.
It is therefore important that the government introduces regulations for CBD snacks. This would ensure that all products meet a minimum standard and that consumers can trust that they are getting the dose of CBD they expect.
Cannabis-infused snacks are food products that contain extracts of marijuana. Candies and baked foods, for example, fall into this category of food products. THC (tetrahydra cannabinol) and CBD (cannabidiol) are used in these edibles because THC is psychoactive. Cannabis is a plant that belongs to the cannabaceae family. It is also known as hemp or hemp fiber. The oil can be used as a therapeutic product as well as a psychoactive drug.
Consumers' increasing preference for natural organic products over pharmaceuticals is one of the major factors driving the growth of the CBD-infused snacks market. The growing demand for cannabidiol (CBD) for the production of snacks and wellness products due to its healing properties is driving the CBD-infused snacks market growth.
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. Furthermore, a growing number of social media influencers promoting the product's benefits, mergers and acquisitions among key players, R&D activities, a change in lifestyle, and an increase in disposable income all have a positive impact on the CBD-infused snacks market.
Principal Consultant
CBD 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.
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. The presence of health-conscious citizens, as well as the increasing consumption of CBD snacks, are driving the growth of this market. Furthermore, the presence of major producers, as well as the approval of the USA
Asia Pacific held the second-largest share in 2021 and is expected to grow at the fastest CAGR between 2022 and 2032. China is making a positive contribution to market revenue. China is one of the world's largest cultivators.
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In 2021, the berry segment had a market share of more than 35%. The natural berry flavor is widely used in the industry for preserves, jams, and cakes, and it also acts as an anti-oxidant. Consumer preference, rising nutrition consciousness, and changes in taste are all factors driving the growth of this segment.
In 2020, the offline distribution channel had a market share of more than 70%. CBD snack manufacturers use traditional retail channels such as word-of-mouth promotion, advertising, and marketing. Offline channels are expected to maintain their lead because they offer buyers the option of physical product verification at the time of purchase.
From 2022 to 2032, the fastest CAGR is expected to be 17% for the online distribution channel segment. The use of online shopping portals and mobile apps is becoming more popular among the young population, who are the industry's major global consumers.
The global CBD snacks market is highly competitive and highly fragmented. This global CBD snacks market landscape is the result of a growing number of emerging players in the market around the world. 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.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value and Million. Sq. M. for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; and the Middle East & Africa |
| Key Countries Covered | USA, Brazil, Mexico, Germany, UK, China, India, Japan, Australia, and GCC Countries |
| Key Segments Covered | Type, Distribution Channel, Region |
| Key Companies Profiled | ZBD; LivityFoods LLC; VELOBAR; Naturebox; Weller; Evo Hemp; CBD American Shaman; Dixie Brands Inc.; Premium Jane; Pure Kana; Just CBD. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Throughout the forecast period, the CBD Snacks Market is expected to grow at a CAGR of 13.2%.
By 2032, the CBD Snacks Market is expected to be worth USD 2.5 Billion.
Demand for convenience food is driving the market.
The Asia Pacific region is one of the most important consumers and has the largest market share.
Major market players use strategies such as introducing new products and improving them, as well as investing in research and development.
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.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global CBD Snacks Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Gummies 5.2. Bars 5.3. Cookies 6. Global CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Distribution Channel 6.1. Hypermarkets/Supermarkets 6.2. Convenience Stores 6.3. Discount Stores 6.4. Pharmacy/Drug Stores 6.5. Food and Drink Specialty Stores 6.6. Independent Small Groceries 6.7. E Retailers 7. Global CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. MEA 8. North America CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA CBD Snacks Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries CBD Snacks Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. ZBD 17.2. LivityFoods LLC 17.3. VELOBAR 17.4. Naturebox 17.5. Weller 17.6. Evo Hemp 17.7. CBD American Shaman 17.8. Dixie Brands Inc. 17.9. Premium Jane 17.10. Pure Kana 17.11. Just CBD 17.12. Others 18. Assumptions & Acronyms Used 19. Research Methodology
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CBD Snacks Market
