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The global Cannabidiol (CBD) gummies market size was USD 3.3 Billion in 2022 and is expected to register a revenue CAGR of 30% during the forecast period.
NEW YORK CITY, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ — The Cannabidiol (CBD) Gummies Market size worldwide was USD 3.3 billion in 2022 and is expected to grow at a revenue CAGR of 30% during the forecast period. The growth is attributed to the increasing use of CBD-based products in the nutraceutical and pharmaceutical industries, along with rising consumer awareness of the potential health benefits of CBD. Chronic conditions like arthritis, anxiety, depression, and sleeplessness have increased the demand for CBD products, especially gummies, which are easy to consume and do not have the ‘high’ effect caused by THC. Another driving factor is the trend of self-medication and the availability of a variety of flavors, doses, and formulations of CBD gummies.
Furthermore, the legalization of cannabis in several countries and the use of CBD-based products in the beauty and personal care industry are expected to drive revenue growth. CBD gummies’ anti-inflammatory and antioxidant properties have led to their use in skincare and personal care products. The demand for vegan and organic goods is also expected to drive revenue growth, with producers substituting natural sweeteners for artificial ones.
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