Product ID: UCMIG30H2070
Report ID:
UCMIG30H2070 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for CBD gummies was valued at USD 1.6 billion in 2020, and it is anticipated to increase at a CAGR of 30.7% from 2021 to 2028. Due to their great pain relief, anti-depressant, anti-anxiety, & neuroprotective characteristics, CBD (Cannabidiol) gummies are extremely popular among consumers and are anticipated to drive the market's expansion over the next years. During the COVID-19 pandemic, people concentrated on their daily necessities all around the world. Additionally, governments all over the world have imposed limitations on both the import and export of non-essential goods including CBD, raw hemp, and isolate. As a result, the market for CBD gummies has slowly expanded globally throughout the COVID-19 pandemic.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Agricultural Products by segment aggregation, the contribution of the Agricultural Products in Food, Beverage & Tobacco and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG30H2070