The global flavored CBD powder market is expected to witness a market value of US$ 4 billion in 2023 and is expected to accumulate a market value of US$ 34.1 Billion by registering a CAGR of 23.9% in the forecast period from 2023 to 2033. The flavored CBD powder market registered a CAGR of 12.4% in the historical period 2018 to 2022. Factors such as the increasing consumer awareness of the health benefits of CBD, the favorable regulatory environment, as well as the growing acceptance of CBD products, are expected to boost the market growth over the analysis period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 4 billion |
| Projected Market Value in 2033 | US$ 34.1 billion |
| Growth Rate (2023 to 2033) | 23.9% CAGR |
As per Future Market Insights - a market research and competitive intelligence provider, the global market value for Flavored CBD Powder has flourished. One of the major factors that are expected to accelerate market growth includes the increasing popularity of CBD products. The demand for CBD products has been increasing rapidly in recent years due to the growing awareness of its potential health benefits, including anxiety relief, pain management, and improved sleep.
Additionally, the flavored CBD powders offer a convenient and easy way for consumers to incorporate CBD into their daily routines. This convenience factor is anticipated to increase the demand for these products, especially among busy consumers who are looking for quick and easy ways to consume CBD.
The legal and regulatory landscape around CBD products is becoming more favorable in many countries, including the United States. As a result, more consumers are becoming comfortable with using CBD products, which in turn is expected to accelerate market growth in the forthcoming years.
Furthermore, with the growing interest in CBD products, more companies are investing in research and development to create new and innovative CBD products, including flavored CBD powders. This investment could lead to the development of new and improved products that are expected to further boost the market growth of the Flavored CBD Powder Market.
Besides, the availability of flavored CBD powders through a variety of distribution channels, including online and offline retail stores, is one of the major factors that is projected to stimulate market growth during the analysis period. This could make these products more accessible to a wider range of consumers, which could increase demand for these products.
On the regional end, the Flavored CBD Powder market in North America is expected to account for the maximum share during the analysis period. North America is one of the largest markets for CBD products globally, and the demand for flavored CBD powders has been increasing in the region. Factors such as increasing consumer awareness about the health benefits of CBD, a favorable regulatory environment, and growing acceptance of CBD products are anticipated to escalate regional market growth.
On the other hand, the Flavored CBD Powder Market in Europe is witnessing significant growth in recent years. Several companies in Europe are offering flavored CBD powders to meet the growing demand. These companies are adopting various strategies such as product innovation, expansion of distribution channels, and partnerships to expand their market presence.
Moreover, the European Food Safety Authority (EFSA) has issued some guidelines on the use of CBD in food products, and companies in the Flavored CBD Powder Market need to comply with these guidelines to avoid any legal issues.
Recent developments in technology, mergers, acquisitions, and partnerships within the companies involved in the designing of Flavored CBD Powder are expected to create lucrative opportunities for market growth over the analysis period.
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The flavored CBD powder market saw soaring growth in 2021 with worldwide revenues. A new forecast estimates that flavored CBD powder revenue will nearly double by 2031.
As consumers increasingly seek anti-anxiety impact, healthy options, and convenience and sustainability in their foods to fuel their on-the-go lifestyles, the face of flavored CBD powder is changing. Moreover, consumers are constantly on the lookout for clean-label ingredients that are also fit for consumers with allergies or restricted diets, without compromising on the mouthfeel.
Moreover, due to growing consumer interest in products that are rich in antioxidants and omega-3 fatty acids, there is aggregate demand for flavored CBD powder as it is extensively manufactured by food producers as an element owing to preference from consumers.
Also, new product launches have played a dynamic role in assisting the extensive penetration of flavored CBD powder in the global market. For example, NewAge Inc. August 2020 launched its clean label, sustainably grown, and simple alcoholic flavored CBD powder with non-GMO labeled certification and does not contain artificial flavors and sugar.
The rising preference for international cuisines, availability of a wide variety of international brands of flavored CBD powder, and growing demand for no preservatives and natural flavors contribute to the growth of the flavored CBD powder market. The dynamics assisting the growth of the market are the consumer’s preference towards gluten-free diets and plant-based alternatives.
Moreover, health-conscious customers favor goods with high dietary content, which helps consumers to enjoy their food without affecting their diet. Moreover, restaurants and other eateries are also experimenting with numerous flavors and combinations to offer innovative and unique flavored CBD powder to their customers.
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With the rising consumption of natural products, consumers are strongly influenced by the nutritional benefits of flavored CBD powder and the added benefits of proteins, fiber, fats, vitamins, and minerals. Moreover, consumers strongly agree that flavored CBD powder enriches the taste of other food while being used as an ingredient.
Additionally, the importance of flavors that meet the expectations of more demanding and health-conscious consumers is therefore key. Innovation and distinctiveness need to be combined with consumer appeal and labeling considerations.
In terms of sales, the North American market is projected to take the lead in the global target market. With the increased consumption of healthy foods by USA consumers, nearly 20% of the consumers are inclined towards on-pack claims like made with real ingredients while buying food or beverage products. The application of flavored CBD powder in snacking has improved vividly over the years and is anticipated to fuel the revenue progression of the flavored CBD powder market.
Moreover, flavored CBD powders have increased by 24.3% volume growth in the USA market over the last three years which is outpacing the overall flavor category, hence promoting the flavored CBD powder market to grow at a high pace.
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The European flavored CBD powder market is estimated to grow at a moderate pace. Manufacturers are aiming at initiating new and innovative forms hence, flavored CBD powder companies are making swift progress concerning evolving innovative beverage options.
The market for flavored CBD powder is estimated to see swift growth through the projection period driven by huge investments done by market players in social media marketing, and promotional activities towards increasing plant-based trends and consumers' wish to eat more healthy nutritional food products.
Some of the key players manufacturing flavored CBD powder market are as follows-
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Flavored CBD Powder Market
