CBD Infused Confectionery Market Size, Share and Analysis By Product Type (Gummies, Hard Candy, and Chocolates), By Distribution Channel (Offline and Online), and Regional Forecast, 2024-2032

The legalization of CBD production in several countries around the world is driving the market forward. Consumer preference for preventive health products is on the rise, which is expected to drive the market for CBD confectionery. In addition, there are many government & private organizations that support the R&D of CBD, as it possesses many medicinal properties that potentially help in the treatment of a wide range of illness.

• According to the National Institute of Drug Abuse, in 2017, the National Institutes of Health (NIH) supported 330 projects and spent USD 140 million on research and development of CBD. The growing R&D of CBD is expected to create immense opportunities for players in CBD infused confectionery market.

With the changing regulations of CBD as a novel food in Europe, which means that the companies should seek authorization for bringing CBD products in market. However, because of CBD’s high demand, the European Commission announced recently that it will suspend the applications for novel food status, which is further expected to drive the market for CBD confectioneries in European countries.

CBD Confectionery is becoming popular among cannabis consumers because of its flavorfulness, package size, and potential mental health benefits. Brands are introducing CBD confectioneries to this fast-growing market, as consumers became aware with the mental and physical health benefits of CBD.

Concerns related to COVID-19 have driven consumers to newly developed alternatives such as edible products and other infusion products. Consuming cannabis by inhalation allows THC to enter the lungs and enter the bloodstream quickly, allowing users to experience the associated mind-altering effects much faster than ingesting an edible product. Advancements in scientific development and product innovation have begun to overcome the drawbacks of edibles like inconsistent effect of cannabis after consumption, which is positively effecting the CBD infused confectionery market.

Impact of COVID-19 on CBD Infused Confectionery Market

Demand and sales skyrocketed rapidly in countries where the use of CBD is permitted in pandemic. CBD products are increasingly being used by consumers looking for alternatives to modern medicine to treat a variety of illnesses, including: chronic pain, anxiety, inflammation, depression, and sleep disorders. Following social distance practices, sales of CBD-enriched confectionery and delivery services over online channels are increasing in developed countries.

Key Insights

The report will cover the following key insights:

• Product Innovation by key market players – For CBD Infused Confectionery Market


• Growing Awareness about Medicinal Properties of CBD Products – For CBD Confectionery Market


• Overview of CBD market - For CBD Infused Confectionery market


• Legalizing of Cannabis to Promote CBD Confectionery Products


• Impact of COVID-19 on CBD Infused Confectionery Market

Analysis by Product Type

CBD gummies segment is expected to witness significant growth, owing to the availability of products in various flavours, shapes, and colors, which makes it enticing for consumers. However, the increasing product innovation and offerings of CBD candies by leading companies such as Cresco Labs is aiding to the fast growth of this segment.

Analysis by Distribution Channel

Offline distribution channel is expected to hold the major share, owing to the consumer’s perception that they provide good quality and authentic products. This channel also provides a one-stop shopping experience.  However, online channel is predicted to grow at the fastest pace because of convenience and penetration of CBD infused confectionery on e-commerce channels. 

Regional Analysis

North America is expected to see significant growth, owing to increasing interest of consumers for CBD products and increasing legalization of cannabis across U.S. With the legalization of CBD in more states of U.S., major companies are increasingly immersing themselves in the fast growing global CBD infused confectionery market. For instance, in September 2020, Canopy Growth Corporation, developed an innovative line of CBD wellness gummies, made with 100% U.S. natural hemp.

Key Players Covered

The report will include the profiles of key players such as Aurora Cannabis Inc., Canopy Growth Corporation, VIVO Cannabis Inc., CV Sciences, Inc., Tilary Inc., Tauriga Sciences, Inc., MariMed, Inc., American Cannabis Innovations Conglomerated, Cannabinoid Creations, Joy Organics, and others.

Segmentation

Key Industry Developments

• In August 2021, Tilary Inc., a global leading cannabis company, announced the launch of medical cannabis edibles in CBD rich varieties of gummies and chocolates. The branded CBD chocolates are available for patients throughout the Canada and will complement the brand's extensive product lineup.


• In September 2020, The London Botanists, a UK-based independent producers of CBD products, announced the launch of their latest creation, a single origin artisan milk chocolate made from Venezuela beans. The CBD chocolate allowed consumers to enjoy more multisensory moments.