Written by Cannabis Infused Edible Products Market Size 2024 To 2032
- The global cannabis infused edible products market size reached USD 19.5 Billion in 2023.
- The cannabis infused edible products market size is expected to reach USD 63.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.97% during 2024-2032.
- Region-wise, the market has been segmented into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- Based on the product type, the market has been divided into food (chocolates, gummies, mints, brownies, and others) and beverages (energy drinks, fruit juices, herbal tea, and others).
- On the basis of distribution channel, the market has been classified into supermarkets and hypermarkets, convenience stores, specialist stores, online stores, and others.
- The expanding legalization of cannabis across various regions is a primary driver of the cannabis infused edible products market.
- Rising product innovations in different flavors, formats, and potency levels are reshaping the cannabis infused edible products market.
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Industry Trends and Drivers:
- Expanding Legalization and Societal Acceptance:
The widespread legalization of cannabis for recreational use, is one of the major factors boosting the cannabis-infused edible products market growth.
Moreover, the growing favor of cannabis that allow manufacturers to operate more openly, ensuring product safety, quality, and consistency, is bolstering the market growth. Apart from this, the increasing societal acceptance, prompting consumers to try cannabis products in familiar formats like beverages, gummies, and baked goods, is boosting the market growth. Besides this, the increasing accessibility and societal normalization, boosting product demand across various age groups and social backgrounds, is driving the market growth.
- Increasing Interest in Health and Wellness Alternatives:
The growing health-consciousness among consumers, leading to the adoption of cannabis-infused edibles due to their perceived wellness benefits, is acting as a growth-inducing factor. Moreover, the rising demand among people for natural alternatives to manage conditions like anxiety, insomnia, and pain is enhancing the cannabis-infused edible products market share. They offer a convenient and healthier method of consumption compared to traditional methods like smoking.
Furthermore, the heightened focus on marketing these edibles as wellness products, thus appealing to those who may be deterred by the social or health risks of inhaled products, is bolstering the market growth.
- Rising Product Innovation and Diverse Offerings:
The cannabis-infused edible products market trends highlight that the rising product innovation as manufacturers develop a wider variety of flavors, formats, and potency levels to meet diverse consumer tastes and preferences is creating a positive outlook for the market. Along with this, the introduction of an extensive range of products, such as savory snacks, beverages, energy bars, and capsules, is providing a considerable boost to the market growth.
In addition to this, the rising innovations in micro-dosing options, allowing consumers to control their experience with precise doses, are fostering the cannabis-infused edible products market size.
Cannabis Infused Edible Products Market Report Segmentation:
Breakup By Product Type:
Food
- Chocolates
- Gummies
- Mints
- Brownies
- Others
Beverages
- Energy Drinks
- Fruit Juices
- Herbal Tea
- Others
Based on the product type, the market has been divided into food (chocolates, gummies, mints, brownies, and others) and beverages (energy drinks, fruit juices, herbal tea, and others).
Breakup By Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialist Stores
- Online Stores
- Others
On the basis of distribution channel, the market has been classified into supermarkets and hypermarkets, convenience stores, specialist stores, online stores, and others.
Breakup By Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Region-wise, the market has been segmented into North America (United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
Top Cannabis Infused Edible Products Market Leaders:
The cannabis infused edible products market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- Baked Bros, Bhang Corp.
- Botanic Lab
- Cannabinoid Creations
- Canopy Growth Corporation
- Charlotte’s Web
- Dixie Brands Inc.
- Grön Confections.
- Kats Botanicals
- Kaya Holdings Inc.
- Kiva Confections
- Koios Beverage Corp.
- Lord Jones (Zeus Cannabinoids, LLC)
- Medix CBD (CBD Capital Group)
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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