CBD Snacks Market – Insights on Emerging Applications, Game-changing Trends and Potential Growth Strategies 2030
The Global CBD Snacks Market will witness substantial growth during the tenure of 2021 to 2030. The growth of the global CBD snacks market is the result of the growth of the food and beverage industry across the globe.
Increasing urbanization and industrialization have resulted in busy and hectic lifestyles. These hectic lifestyles have given rise to new eating habits that are different from the traditional three meals eaten at the family table. When customers are hungry, they turn to snacks around the clock. Often opt for healthy snacks that contain nutritious and natural ingredients, labels that support their health, and free claims. Consumers are increasingly turning to snacks that offer cleaner, clearer labels. The demand for CBD-infused snacks has exploded in the market due to the therapeutic benefits of cannabidiol (CBD).
During COVID-19, there is a greater emphasis on maintaining health and boosting the immune system, which is pushing consumers towards a variety of health and wellness-oriented products like CBD. Some of the in-store retailers selling CBD products in the UK have been allowed to remain open after a nationwide lockdown, and some customers are buying their regular items while others are turning to online retailers and delivery services.
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Key Findings from CBD Snacks Market Research
- Consumers are likely to adopt healthier lifestyles, which has led to increased consumption of foods and beverages with potential health benefits. Consumers are now becoming more conscious about their diet, which is why they are investing in a holistic approach to health and wellness that covers almost every aspect of life. Additionally, consumers are increasingly participating in fitness activities that improve their well-being. As a result, the demand for CBD-infused snacks continues to grow globally due to increased health and fitness awareness among the population, as well as an increasing number of very high-end consumers interested in consuming safe and nutritious foods.
- According to the Go Clean label, Clean label refers to food products that contain natural, simple and easy to identify ingredients, without artificial additives, according to Go Clean Label. Consumers seeking simpler foods with fewer ingredients have caused food manufacturers to exclude artificial ingredients and chemical modifiers from food products. Most consumers believe that food products with natural ingredients that provide better nutrition, environmental sustainability, and ethically sourced qualify as clean label. Obviously, the trend of clean labels with no THC or less than 0.3% THC content plays an important role in promoting the CBD snack market.
E-commerce sales are gaining momentum
As more customers use mobile devices to order food and groceries, e-commerce continues to gain momentum around the world. Rapid digitalization has led to high penetration of e-commerce in APEJ countries, with China leading with high market share. CBD snacks have a long shelf life and can be conveniently packaged as desired, attracting a large customer base. Various e-commerce companies are competing in the region by introducing their own food labels to expand their reach in the market. Sales of processed CBD products via e-commerce are expected to gain momentum over the coming years and are expected to drive the market growth over the forecast period.
ZBD, LivityFoods LLC, VELOBAR, Naturebox, Weller, Evo Hemp, CBD American Shaman, Dixie Brands Inc., Premium Jane, Pure Kana and Just CBD and other players.
Several large CBD snack manufacturers are focusing on mergers and acquisitions to expand their business footprint and increase production capacity. Major players in CBD snacks are investing in research and development to produce innovative products using CBD snacks.
CBD SNACKS MARKET TAXONOMY
The global CBD Snacks market is segmented in detail to cover all aspects of the market and present the reader with comprehensive market insights.
- convenience stores
- Discount stores
- Specialty Food and Beverage Stores
- Small Independent Grocery
- E Retailers
- North America
- Latin America
- East Asia
- South Asia
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KEY RESEARCH FINDINGS
- The availability of a wide range of CBD-enriched products and opportunities to launch into new product categories provide many opportunities for companies to expand their business in emerging markets.
- Sales of CBD products via e-commerce are expected to grow in the coming years
- Manufacturers primarily focus on lowering the THC content to gain approvals from regulatory agencies. Regulations imposed on sales and their enforcement remain the key factor affecting sales of the CBD Snacks market
About the IGF
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