The global CBD snacks market size was valued at USD 699.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.5% from 2021 to 2028. Increasing consumers’ preference for herbal snacks, the rising production of snacks to meet the growing demand due to the increasing health awareness, and social media trends influencing consumers are expected to promote the market growth over the next few years. Additionally, enterprises are increasing their efforts for the legalization of cannabis for pharmaceuticals, food, and cosmetics purposes, which is expected to drive the market for CBD snacks over the forecast period.
CBD snacks are offered in multiple products including baked goods, non-alcoholic drinks, candies, snacks, alcoholic drinks, sauce, and honey. Moreover, manufacturers offer a wide range of flavors, such as berry, chocolate, citrus, coconut, vanilla, caramel, and pineapple, which, in turn, will propel the product adoption.
During the COVID-19 pandemic and lockdown imposed by the government, citizens preferred to stay at home as a precautionary measure. Due to this, the overall production and supply chains of the cannab is plant were disturbed. The market experienced a sales shortfall due to the disturbed supply chains and reduced demand. However, the market is expected to witness healthy growth in the upcoming years after the COVID restrictions are released.
The berry segment held the largest share of more than 30.0% in 2020. The natural berry flavor is popular in the industry as it is widely used for preserves, jams, and cakes and acts as an anti-oxidant. Consumers’ choice, increasing nutrition consciousness, and change in the taste are the factors contributing to the growth of this segment.
The chocolate segment is expected to expand at the highest CAGR of 16.8% from 2021 to 2028. The chocolate flavor is the most satisfying indulgence. The growing popularity of chocolate-coated snacks among consumers is expected to contribute to the growth of this segment.
The offline distribution channel held the largest share of more than 70.0% in 2020. Producers of CBD snacks use the traditional retail channels, including word of mouth publicity, advertising, and marketing. Offline channels are expected to maintain their lead as they provide a choice of physical verification of the products to the buyers at the time of purchasing.
The online distribution channel segment is expected to register the fastest CAGR of 16.9% from 2021 to 2028. The use of online shopping portals and mobile apps is getting popular among the young population, who are the industry's major consumers at the global level.
The baked goods segment dominated the market and held a revenue share of more than 25.0% in 2020. Due to the growing demand for ready-to-eat food products, the popularity of baked food is rising across all the regions.
The non-alcoholic drinks segment is expected to expand at the highest CAGR of 17.7% from 2021 to 2028. With the increasing awareness regarding the side effects of the consumption of alcohol, demand for non-alcoholic drinks is rising. Consumers are becoming more conscious of nutrition, which is also contributing to the segment growth.
North America dominated the market for CBD snacks and accounted for a revenue share of over 30.0% in 2020. Countries such as the U.S. and Canada are positively contributing to the market revenue. The presence of nutrition-conscious citizens and the increasing consumption of CBD snacks are contributing to the growth of this market. Additionally, the presence of major producers and the approval of the U.S. Farm Bill 2020 are expected to drive the regional demand.
Asia Pacific held the second-largest share in 2020 and is expected to expand at the highest CAGR of 17.3% from 2021 to 2028. Countries such as China and Japan are positively contributing to the market revenue. China is one of the largest cultivators in the world.
The market for CBD snacks is characterized by the presence of various well-established players and several small and medium players. In June 2016, Nature’s Nosh, an innovative leader in healthy and functional CBS snacks, launched single-serve CBD fruit and nut snack packs. These snacks are available in flavors, such as Mint Chocolate, Blueberry, and Chili Lime. Such initiatives are expected to boost the adoption rate of the product among consumers. The manufacturers of CBD snacks are aggressively following organic as well as inorganic strategies to expand their footprints across the globe. Some prominent players in the global CBD snacks market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 749.9 million |
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Revenue forecast in 2028 |
USD 2,054.7 million |
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Growth Rate |
CAGR of 15.5% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Snack, flavor, distribution channel, region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Germany; France, U.K.; China; Japan; Brazil; South Africa |
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Key companies profiled |
Aurora Cannabis; Cannabinoid Creations; Canopy Growth Corp.; CBD American Shaman; CV Sciences, Inc.; Dixie Brands; Elixinol Global Limited; FOLIUM BIOSCIENCES; Green Roads; Isodiol International Inc. |
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Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global CBD snacks market report on the basis of snack, flavor, distribution channel, and region:
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