CBD Gummies Market Rising With Growth In New Technology Trends Research By 2028Posted by Mrudula Anil Karmarkar on March 8th, 2022 The global CBD gummies market size is expected to reach USD 13.9 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 30.7% from 2021 to 2028. The exceptional medicinal properties without any harmful side effects are expected to be a major factor contributing to the growth of the market. The consumption of CBD (Cannabidiol) gummies to relieve anxiety, depression, pain, and inflammation, and to induce sleep is expected to boost the growth of the market. The 2018 U.S. Farm Bill is considered to be one of the most supportive government policies for the promotion of CBD gummies and other CBD-based products in the U.S. The bill legalizes hemp and hemp-based products in the country and omits hemp from the definition of marijuana in section 102(16) of the Controlled Substances Act. As per this bill, the USDA will approve the states before harvesting for monitoring and production regulating purposes. In addition to this, a few favorable changes in the overall regulations on hemp are promoting the supply of various CBD-based products in the U.S. market. For instance, under the 2018 Farm Bill, hemp has been removed from the Controlled Substances Act (CSA), which implies that cannabis plants and derivatives that constitute less than or equal to 0.3% dry weight THC are no longer controlled substances under federal law. These aforementioned supportive policies are anticipated to boost the demand for CBD gummies in the U.S. market. The market, however, is still at a nascent stage and the products being launched are only in the countries where CBD-based edible products are legalized. Manufacturers are, however, expecting a significant shift in product positioning in the global market, with the hopes that CBD oil and gummies will become as common as fish oil or multivitamin gummies. CBD (Cannabidiol) gummies are receiving immense popularity among consumers owing to their exceptional pain relief, anti-depressant, anti-anxiety, and neuroprotective properties, which are expected to fuel the growth of the market over the forecast period. During the COVID-19 pandemic, people around the globe have focused on the essentials of daily life. Governments across the globe have also put restrictions on the export and import of non-essential items, such as CBD, unprocessed hemp, and isolate. Hence, during the COVID-19 pandemic, the market for CBD gummies has witnessed slow growth across the globe. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/cbd-gummies-market/request/rs1 CBD Gummies Market Report Highlights
List of Key Players of CBD Gummies Market
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