CBD Pouches Market to Reach $721.8 Million, Globally, by 2032 at 18.9% CAGR: Allied Market Research

The increasing popularity of CBD products, the rising incidence of depression, and the health benefits associated with CBD are the factors anticipated to drive the growth of the global CBD pouches market during the forecast period from 2023 to 2032. The North America region is expected to account for the major market share by 2032.

PORTLAND, Ore., Sept. 4, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "CBD Pouches Market by CBD Pouches Content (Up to 10mg, 10mg - 20mg, Others), by Type (Flavored, Unflavored), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global CBD pouches market generated $133.8 million in 2022, and is anticipated to generate $721.8 million by 2032, witnessing a CAGR of 18.9% from 2023 to 2032.

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Prime Determinants of Growth

The growing demand for CBD products and the rising awareness about the potential health benefits of CBD are predicted to be the important factors to boost the growth of the global CBD pouches market in the forecast timeframe. However, the product quality and safety concerns associated with CBD may hamper the CBD pouches market growth in the coming period. On the contrary, increasing R&D investments in the pharmaceutical sector is expected to offer growth opportunities for expansion of the CBD pouches market in the 2023-2032 forecast period.

Report Coverage & Details:

Impact of Covid-19 on CBD Pouches Market

• The outbreak of the COVID-19 pandemic has had a significant impact on the growth of the global CBD pouches market. The disruptions in the supply chains owing to travel restrictions, lockdowns, and other measures implemented to prevent the spread of the virus have adversely affected the market growth.
• On the contrary, many people turned to CBD products for stress relief and wellness support, which resulted in an increased demand for certain CBD items. CBD products gained popularity for their potential wellness benefits, and this trend positively impacted the CBD industry.

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CBD Pouches Content: 10mg to 20mg Sub-segment Held the Largest Market Share in 2022

The 10mg to 20 mg sub-segment accounted for the major share of 41.5% in the CBD pouches market in 2022 mainly because these pouches have emerged as a driving factor in the wellness and alternative medicine sector. Besides, the various benefits of using 10mg to 20mg pouches, such as its ability to lower stress levels, relax users, lower stress levels, promote sleep cycles, improve gut health, and safety is the factor predicted to boost the sub-segment's growth by 2032.

Type: Flavored Sub-segment to be Highly Dominant During the Forecast Period

The flavored sub-segment generated the highest market share of 57.8% in 2022 and is predicted to continue to hold the majority of share by 2032. The growing popularity of flavored CBD pouches is due to the availability of a variety of satisfying flavors to cater to a wide range of taste preferences. Besides, companies are focused on offering new fruit tastes, such as citrus, strawberry, and mango to improve the sale of CBD pouches,

Distribution Channel: Offline Sub-segment to Witness Significant Growth by 2032

The offline sub-segment generated the highest market share of 54.6% in 2022. The growing legality and acceptability of cannabis products in numerous countries has created new opportunities for offline distribution. Besides, the offline channel provides a more tangible and personal buying experience, allowing customers to directly experience and inquiry about CBD pouches before purchasing.

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Region: North America Market to Hold Majority of Market Share by 2032

The North America region accounted for the highest share of 40.1% in the global CBD pouches market in 2022 and is expected to continue to maintain its dominance during the forecast period. Increased consumer awareness about the potential health benefits of CBD, along with changing regulatory landscapes, has paved the way for the widespread adoption of CBD pouches in the region. Additionally, the widespread availability of CBD pouches through different retail channels, such as offline stores and online platforms, has aided market expansion in the North America region.

Leading Players in the CBD Pouches Market:

• Nico's Pouches
• Snushus.ch
• Cannadips CBD
• Canni Hemp Co.
• METOLIUS HEMP COMPANY
• Canndid
• SnusMe.eu
• Nicopods ehf
• The Snus Brothers (SnusMe.eu)
• SNUSSIE.COM

The report provides a detailed analysis of the key players of the global CBD pouches market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of CBD pouches market players to showcase the competitive scenario.

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