CBD Snacks Market Value to Surpass US$ 10756.36 Mn in 2030
Exhibiting an impressive CAGR of 22%, the global CBD snacks market will surpass US$ 10756.36 Mn mark by 2030. This FMI study reveals that the market will grow at a steady pace during 2020-2030.
Food grade CBD is fast gaining worldwide popularity. Inclusion of CBD in food and drinks in the US is picking-up so fast that the US FDA is currently debating regulatory frameworks for consumer products.
Rising customer awareness about the nutritional benefits associated with hemp derivatives and increasing industrial hemp production have guided the growth of the US hemp derivatives industry. Hemp derivatives such as CBD find wide-ranging applications in various end-use industries such as food and beverage, personal care, animal feed, pharmaceuticals, and others, which further boost consumer demand. Hemp-based food and beverage trend is gaining popularity in the US so manufacturers are investing heavily in the snacks market for CBDs.
Key Research Findings
- The CBD snacks market surpassed its US$ 1472.54 Mn mark in 2020.
- The broad range of CBD-fortified products and the possibilities for new product categories provide ample opportunities for companies focused on CBD-fortified food products to develop in a newly emerging market.
- The sales of CBD products processed through e-commerce are expected to gain rapid momentum over the coming years and are expected to drive market growth over the forecast period.
- North America is leading in CBD snacks market and expected to rapidly grow in the CBD snacks market with the CAGR 21.8%
KEY FACTORS SHAPING THE CBD Snacks MARKET
COVID-19 Impact on CBD snacks Market
During COVID-19, a greater emphasis is put on staying healthy and strengthening immune systems which drives consumers to a variety of health and wellness focused products like CBD. Some of the store-based retailers that sell CBD goods in the United Kingdom have been allowed to remain open following a national lockout, and some customers purchase their regular items while others turn E-Retailers and delivery services.
Growth in CBD and Hemp Industry
The vagueness and ambiguity of the market law regulating CBD has significantly affected the dynamic, lucrative, and largely unregulated CBD industry, with a wide range of retail goods and strong growth in revenue. Most CBD products are produced from hemp and the market for CBD products is directly proportional to the output of hemp. The key players are projected to experience sales growth.
CBD SNACKS MARKET STRUCTURE ANALYSIS
- Tier one companies are focusing on research and development to increase the sustainability of the food products.
- Companies are focusing on acquisition and mergers to strengthen their supply chain management and to expand their geographical presence.
CBD Snacks Market Value in 2020
US$ 1472.54 Mn
North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
The key companies are ZBD, LivityFoods LLC, VELOBAR, Naturebox, Weller, Evo Hemp, CBD American Shaman, Dixie Brands Inc., Premium Jane, Pure Kana, and Just CBD
CBD Gummies Accounts for About 42% Share
CBD gummies are commonly regarded as non-psychotropic drugs, with no THC, reducing the risk of a highly induced medication. CBD Gummies are supposed to replace other consumables that are deemed unhealthy, such as chocolates, cookies, brownies and confectioneries. In 2018, CBD gummies were also the third most successful food-related Google search according to FONA International. The market for the gummies' CBDs is also powered mainly by millennials. Convenience regarding the transportation and usage of the commodity is expected to bode well for production. Lack of THC in the commodity should also boost demand.
North America and Europe Emerge as Leading Markets for CBD Snacks
North America and Europe hold major share in the CBD snacks market. However, over the forecast period the Asia Pacific is expected to grow rapidly. Due to urbanization, the lifestyle and eating habits in Asia Pacific are changing. The awareness regarding health and wellness is rising rapidly in the Asia Pacific due to which consumers in this region are increasingly preferring nutritious snacks. Snacks as a category are increasing rapidly in popularity within the Asia Pacific region, driven by convenience trend among consumers. A number of manufacturers of hemp and CBD have expressed interest in doing business in Thailand, following the current reforms to its regulations announced. Asia Pacific is a largely untapped CBD sector, and represents the next major business opportunity to take advantage of the emerging global movement towards cannabis legalization.
* This data is only a representation. Actual data may vary and will be available in report.
CBD Infused Products Are Gaining Traction
CBD is rising at unparalleled levels, with its many interconnected industries and services. Touched for its extensive health benefits without any of the THC's psychoactive impacts, CBD is attaining broad market acceptance worldwide. Forbes predicts that CBD markets will hit a compound growth rate of 49 per cent in 2019, bringing the overall market cap by 2024 at $20 billion. Rates of adoption are gradually growing and will continue to increase as awareness spreads. New medicinal and therapeutic advantages are discovered each year as commercial manufacturing continues to produce an ever-expanding variety of CBD-infused food products.
Gummies holds leading revenue share and showcase noteworthy CAGR
Protein Bars showcase noteworthy CAGR
Store-based Retailers holds leading revenue share
E-Retailers showcase noteworthy CAGR
How Growth will Unfold
Some of the leading manufacturers of CBD products are focusing on acquisition and mergers to expand their product portfolio. Companies operating in the market are also investing in research and development to produce various unique products of CBD Snacks. Technology is playing major role in the development of CBD Snacks products. Major players are focusing on adoption of advanced technologies to boost their production capacity and innovation capability.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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CBD snacks Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by FMI “CBD snacks Market: Global Industry Analysis 2015-2019 & Forecast 2020-2030” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the CBD snacks market, the growth prospects of the market are obtained with maximum precision.
CBD Snacks Market Taxonomy
The global CBD snacks market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
- Convenience Stores
- Discount Stores
- Pharmacy/Drug Stores
- Food and Drink Specialty Stores
- Independent Small Groceries
- E Retailers
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the CBD snacks market includes the market country analysis, proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global CBD snacks market.
Readers can find the detailed segmentation and definition of the CBD snacks market in this chapter, which will help them understand basic information about the CBD snacks market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the CBD snacks market report.
The associated industry assessment of the CBD snacks market is carried out in this section. The macroeconomic factors affecting growth of the CBD snacks market are provided in this section and the impact of these macroeconomic indicators on the CBD snacks market is analyzed. The processing overview and technological advancements in the CBD snacks market is also provided.
Profit margins at each level of the CBD snacks market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the market.
The drivers and restraints impacting the growth of the CBD snacks market are explained in this chapter. Opportunities and ongoing trends in the CBD snacks market are also comprehensively discussed.
This chapter includes detailed analysis of the historical CBD snacks market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2020 - 2021) and incremental opportunity for the forecast period (2020-2030).
Based on type, the CBD snacks market is segmented into gummies, bars, cookies, and others. This section also offers market attractiveness analysis based on type.
Based on distribution channel, the CBD snacks market is segmented into hypermarkets/supermarkets, convenience stores, discount stores, pharmacy/drug stores, food and drink specialty stores, independent small groceries, and e-retailers. This section also offers market attractiveness analysis based on distribution channels.
This chapter explains how the CBD snacks market is anticipated to grow across North America, Latin America, Europe, Asia Pacific, Oceania, Japan and the Middle East and Africa.
This chapter includes a detailed analysis of the growth of the CBD snacks market in the North America region, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on application and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the CBD snacks market in the Latin America region. This chapter also includes growth prospects of the CBD snacks market in leading LATAM countries such as Brazil, Mexico, Peru, Argentina, and the Rest of Latin America.
Important growth prospects of the CBD snacks market based on its application in several countries such as EU-4, U.K., Russia, Nordic, BENELUX, Poland, and Rest of Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the CBD snacks market in the East Asia Excluding China region, along with a country-wise assessment that includes, China, Japan, and South Korea. Readers can also find regional trends, regulations, and market growth based on applications and countries in the East Asia region.
This chapter includes a detailed analysis of the growth of the CBD snacks market in the South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia. Readers can also find regional trends, regulations, and market growth based on applications and countries in the South Asia region.
This chapter includes a detailed analysis of the growth of the CBD snacks market in the Oceania region, along with a country-wise assessment that includes the Australia and New Zealand. Readers can also find regional trends, regulations, and market growth based on application and countries in the Oceania region.
This chapter offers insights into how the CBD snacks market is expected to grow in major countries in the MEA region such as GCC Countries, Turkey, South Africa, Northern Africa, and the Rest of MEA, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the CBD snacks market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the CBD snacks market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are ZBD, LivityFoods LLC, VELOBAR, Naturebox, Weller, Evo Hemp, CBD American Shaman, Dixie Brands Inc., Premium Jane, Pure Kana, Just CBD and other players.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the CBD snacks report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the CBD snacks market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Tobacco Vapor Electronic Cigarette Association
- American Lung Association
- Confederation of European Community Cigarette Manufacturers
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits