The data and understanding of the CBD industry is a little sketchy. Some estimates put the CBD market at around 2.8 billion dollars, while others say it is closer to 3.5 billion. It is difficult to have perfect data so many reports are based only on estimates of experts.
CBD edibles can be more complicated. This is because CBD edibles are defined differently in different places. Experts would classify CBD edibles as chewables or foods. Others may consider CBD oil or capsules edibles.
It would be wise to keep CBD edibles apart from conventional oral CBD formulations such as CBD oil and capsules. It would therefore be fair to say that CBD edibles also include chocolates, brownies and honey.
CBD Edibles Market Size & Growth
It would be difficult for us to estimate the market share of an industry which is still not well regulated and in which many manufacturers don’t share sales data. It would still be accurate to state that CBD edibles account for at least 30% of the global CBD market.
According to some estimates, the CBD edibles market may be worth around 1 billion USD. It is also expected to continue growing at a CAGR of 24.30%, and even surpass the 5 billion mark by 2027, according to conservative estimates.
These estimates don’t include CBD gummies. This is because CBD gummies are more popular than all other CBD edibles. It would also be much larger if CBD gummies were taken into account. Experts predict that CBD gummies will be a huge hit. They could account for up to 13 Billion USD in sales and may even surpass 2028. Their CAGR is 30.7%.
It doesn’t matter how many figures you consider. It is clear that the market will grow at a CAGR between 24 and 30%. This is a remarkable growth rate compared to other industries.
This article was written by Island Products. Island Products provides private label CBD products. Our formulas and procedures are all designed with the purity and safety of the customers in mind. Whether you are expanding your current business or starting a new one, let Island Products bring your ideas to life! Choose from a variety of cannabinoids in a variety of forms to diversify and refine each and every product in your brand. Island Products offers cannabinoids including but not limited to Delta-8 THC, Delta-10 THC, CBD, and more.