The expanding CBD (cannabidiol) market has gained a massive amount of momentum of late as it affects diverse industries, including cosmetics, food & beverage and pharmaceuticals. Cannabidiol is a non-psychoactive compound present in cannabis, which is extracted from various parts of marijuana or hemp plant. As a result of legalization of cannabis products under Agricultural Improvement Act, 2014, the CBD-infused ice cream has also gained popularity among the consumers. Increasing awareness about health benefits of CBD products are driving the demand for CBD-infused ice cream. CBD-infused ice cream helps to treat a variety of health conditions, including antioxidant and neuroprotective properties. The market for CBD-infused ice cream is expected to show significant growth during the forecast period due to the rising inclination towards the use of natural products. Although the CBD-infused ice cream market growth is likely to be hampered by stringent regulations and compliance issues for CBD in the food & beverage industry.
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CBD-infused Ice Cream market is likely to be dominated by private labels
CBD-infused ice cream is garnering a lot of attention owing to the recent headlines of major companies potentially involving in the space. To stay innovative in the CBD space, the Earth Science Tech, Inc. keeps on seeking new ways to deliver its effective CBD to the public. Some of the market players engaged in the manufacturing and distribution of CBD-infused ice cream are Little baby’s ice cream, Ben & Jerry, Van Leeuwen, Darryl’s Ice Cream Solutions, LLC among others.
The research report presents a comprehensive assessment of the CBD-infused ice cream market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according CBD-infused ice cream market segments such as source, end user, distribution channel and geographies.
Developed regions to experience high demand for CBD-Infused Ice Cream
The CBD-infused ice cream market is likely to grow significantly in North America owing to legalization of CBD-Infused Ice Creams in some states of North America. The CBD-infused ice cream market is likely to grow in North American states of Colorado, Utah, Lowa, Texas, California and others as the use of CBD is legal. Many countries in Europe and Latin America have also legalized the use of CBD in products. Therefore, CBD-infused ice cream market is experiencing an upsurge and is expected to grow tremendously in the regions.
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Baby Boomers to lead the market for CBD-infused Ice Cream
The global market for CBD-infused ice cream can be segmented based on CBD source, end user, distribution channel and regions. Based on the CBD source, the global CBD-infused ice cream market can be segmented into marijuana, hemp and synthetic. Based on the end user, the global market for CBD-infused ice cream can be segmented into Baby boomer, Millennial and Gen Z. On the basis of the distribution channel, the global CBD-infused ice cream market can be segmented into specialty stores, convenience stores, online channels and others. The online distribution channel for CBD-infused ice cream includes third-party online channels and the company owned online channels. Geographically, the CBD-infused ice cream can be segmented into seven regions: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa.
Stringent regulations are likely to impede the growth of CBD-Infused Ice Cream market
According to United Nations, over 180 Mn people in the world use cannabis and it is the most consumed drug worldwide. This reveals that there is a significant demand for cannabis and CBD products, such as CBD-infused ice cream. The CBD-infused ice cream can act as a natural remedy for various health conditions such as reducing pain, anxiety, central nervous system disease, among others. Baby boomers are early users of CBD-infused ice cream as they have been using marijuana and hemp as a food ingredient. Baby boomers are aware of the benefits of CBD-infused ice cream than millennials and Gen Z and are ready to spend more on them.
Moreover, an increasing percentage of baby boomers are also likely to boost the demand for CBD-infused ice cream. CBD products are regulated by stringent laws and regulations, but still, FDA has not approved the use of CBD in foods and beverages, which may have a severe impact on the growth of CBD-infused ice cream market. Hence, CBD-infused ice cream remains confined to the countries that have made it legal.
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