Over the next five years, the global CBD gummies market could be worth up to $6.94 billion, according to Grand View Research.
Helping to drive a good deal of that growth, they note, is the growing trend of cannabis legalization around the world. In the U.S. for example, a Biden Administration coupled with a Democrat-led Congress could increase the likelihood of legalization. In addition, “Considering that the market could see favorable U.S. Food and Drug Administration guidance or legislation from Congress approving CB in ingestible products next year, Nielsen expects that by 2025, the market for hemp-derived CBD products will generate $6.9 billion, – a threefold increase over five years.”
Coupled with rapidly changing consumer attitudes and sizable consumer demand, even large retailers such as Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, Sephora, CVS, American Eagle, and Walgreen’s have started to carry CBD products.