The legal grant for medicinal and recreational use of cannabis is opening prospects for the CBD gummies market. And, this factor is poised to account to be a key factor behind solid growth of the CBD gummies market in the years ahead.
Intrinsically, CBD gummies are not psychotropic, and thus do not cause a high after taking them. CBD gummies are used to treat neurological disorders, certain psychiatric aliments, and cancer. CBD gummies are known to be very effective in pain management, hence, becoming very important for the medical and healthcare industry.
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Low concentration CBD gummies are widely used along with medical treatments, as they allow side-effects such as diarrhea, changes in weight, and fatigue to stay at bay. Meanwhile, the demand for high concentration is also increasing rapidly. High concentration CBD gummies are sought for glaucoma, sleep disorders, epilepsy, and schizophrenia owing to their high efficacy in treatment.
Led by the U.S. and Canada, North America at the forefront
North America is one of the leading markets for CBD gummies. The region holds about 60% of the total revenue and is poised to rise at a stellar pace in the years ahead. Two large countries in the region, viz. Canada, and the U.S. are witnessing legalization of cannabis for medical and recreational use. Some states in the U.S. permit use of CBD gummies with low tetrahydrocannabinol (THC) content. High revenue of Canada is also attributed to the presence of some notable players in the CBD gummies market landscape.
A large number of players are vying to capitalize on the growing opportunities in the CBD gummies market. Some key players in the CBD gummies market are Reliva CBD Wellness, Dixie Brands Inc., Medix CBD, CV Sciences, Green Roads CBD, Premium Jane, Pure Kana, Diamond CBD, AND Hemp Bombs. These players are striving for partnerships and mergers and acquisitions to improve market penetration, product offering, and combine resources.
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