IMARC Group, a leading market research company, has recently released a report titled “Cannabis Infused Edible Products Market Report by Product Type (Food, Beverages), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialist Stores, Online Stores, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global cannabis infused edible products market trends, share, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global cannabis infused edible products market size reached US$ 19.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 63.2 Billion by 2032, exhibiting a growth rate (CAGR) of 13.97% during 2024-2032.
Global Cannabis Infused Edible Products Market Trends:
The growing utilization of nanotechnology in the formulation of cannabis edibles, which enhances the bioavailability and onset time of cannabinoids, allowing for faster and more predictable effects, is bolstering the market growth.
Moreover, the rising customization of edibles, as consumers select products based on specific desired effects, such as relaxation, focus, or energy, is boosting the market growth.
Additionally, the burgeoning integration of cannabis-infused edibles with wellness routines in the form of functional foods and beverages is fuelling the market growth.
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Factors Affecting the Growth of the Cannabis Infused Edible Products Industry:
· Expanding Legalization and Decriminalization of Cannabis:
The growing legalization and decriminalization of cannabis across various regions is one of the major factors boosting the market growth. In line with this, the rising focus on using cannabis for recreational and medicinal use, boosting the demand for infused products, including edibles, is expanding the market growth. In addition to this, the increasing product innovation and availability by companies owing to the easing of regulations is bolstering the market growth. Besides this, the growing social acceptance of cannabis use, which is reducing the stigma associated with these products, is anticipated to drive the market growth.
· Rising Consumer Demand for Health and Wellness Products:
The growing consumer interest in health and wellness is another major factor driving the cannabis-infused edible products market. In line with this, the rising consciousness among consumers of their health and the impact of what they consume, creating the demand for edible products that offer functional benefits, is boosting the market growth.
Moreover, the growing positioning of cannabis-infused edible products as wellness products, leading to formulations that are designed to promote relaxation, pain relief, improved sleep, and overall well-being, is fueling the market growth. This shift in consumer preferences is leading to the development of edibles that are low in sugar, gluten-free, or infused with other health-promoting ingredients.
· Rising Product Innovation and Diversification:
The heightened focus of companies on creating unique and high-quality products that cater to a wide range of consumer preferences is creating a positive outlook for the market. In line with this, the introduction of various forms of edibles, including gummies, chocolates, beverages, and savory snacks, that offer different flavors, dosages, and effects is catalyzing the market growth.
Moreover, the incorporation of cutting-edge extraction technologies and precise dosing mechanisms, allowing manufacturers to produce edibles with consistent potency and desired effects, is enhancing the market growth. Moreover, the growing emphasis on the use of natural and organic ingredients, as well as vegan and gluten-free options, to appeal to health-conscious consumers is boosting the market growth.
Cannabis Infused Edible Products Market Report Segmentation:
By Product Type:
Food
· Chocolates
· Gummies
· Mints
· Brownies
· Others
Beverages
· Energy Drinks
· Fruit Juices
· Herbal Tea
· Others
Food accounted for the largest market share due to the broad variety of edible options like gummies, chocolates, and baked goods that appeal to a wide range of consumers.
By Distribution Channel:
· Supermarkets and Hypermarkets
· Convenience Stores
· Specialist Stores
· Online Stores
· Others
Supermarkets and hypermarkets represented the largest segment as they offer consumers convenience and a wide selection of cannabis-infused edibles in one location.
Regional Insights:
North America
· Asia Pacific
· Europe
· Latin America
· Middle East and Africa
North America's dominance in the cannabis infused edible products market is attributed to the extensive legalization of cannabis and the strong consumer base.
Competitive Landscape with Key Players:
The competitive landscape of the cannabis infused edible products market size has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
· 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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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