Allied Market Research recently released a report titled “CBD Pouches Market by CBD Pouches Content (Up to 10mg, 10mg – 20mg, Others), Type (Flavored, Unflavored), and Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to this report, the global CBD pouches market achieved $133.8 million in revenue in 2022 and is projected to reach $721.8 million by 2032, experiencing a compound annual growth rate (CAGR) of 18.9% from 2023 to 2032.
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Key Growth Drivers:
The growth of the global CBD pouches market in the forecasted period is expected to be fueled by the increasing demand for CBD products and growing awareness of their potential health benefits. However, concerns regarding the quality and safety of CBD products may pose challenges to market growth. On a positive note, increased research and development investments in the pharmaceutical sector are likely to create growth opportunities for the CBD pouches market between 2023 and 2032.
Impact of COVID-19:
The COVID-19 pandemic significantly affected the global CBD pouches market. Disruptions in supply chains due to travel restrictions, lockdowns, and other pandemic-related measures had adverse effects on market growth. However, the pandemic also led to increased demand for CBD products for stress relief and wellness support, positively impacting the CBD industry.
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Market Segmentation:
– CBD Pouches Content: The sub-segment with CBD pouches containing 10mg to 20mg held the largest market share in 2022, accounting for 41.5%. This sub-segment is expected to continue growing due to the various benefits it offers, such as stress reduction, relaxation, improved sleep, and gut health.
– Type: Flavored CBD pouches dominated the market, with a 57.8% market share in 2022 and are projected to maintain their majority share by 2032. The popularity of flavored CBD pouches is attributed to the wide range of flavors available to cater to diverse taste preferences.
– Distribution Channel: The offline sub-segment claimed the highest market share at 54.6% in 2022. The increasing acceptance and legality of cannabis products in various countries have created opportunities for offline distribution, offering customers a tangible and personal buying experience.
Regional Analysis:
North America led the global CBD pouches market in 2022, capturing a 40.1% market share. This region is expected to maintain its dominance throughout the forecast period. Factors contributing to this leadership position include increased consumer awareness of the health benefits of CBD, evolving regulatory landscapes, and the availability of CBD pouches through various retail channels, both offline and online.
Key Players:
The report offers a comprehensive analysis of key players in the global CBD pouches market. These companies have adopted various strategies, such as new product launches, collaborations, expansions, joint ventures, and agreements, to enhance their market share and maintain dominance in different regions. The report provides insights into their business performance, operating segments, product portfolios, and strategic moves.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting firm associated with Allied Analytics LLP, headquartered in Portland, Oregon. AMR offers high-quality “Market Research Reports” and “Business Intelligence Solutions” to global enterprises, small and medium-sized businesses, and operates across 11 industry verticals. The company is committed to providing valuable business insights and consulting services to help clients make informed strategic decisions and achieve sustainable growth across various market domains.
AMR maintains professional corporate relations with numerous companies, ensuring the accuracy of research data through primary interviews with top officials from leading companies in the respective industries. Their data procurement methodology involves in-depth online and offline research, as well as discussions with industry experts and analysts. CEO Pawan Kumar plays a key role in upholding AMR’s commitment to delivering high-quality data and assisting clients in achieving success.
