Market Size of Cannabis Infused Edible Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 16.30 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cannabis-infused Edible Products Market Analysis
The cannabis-infused edible products market size is expected to grow from USD 9.68 billion in 2023 to USD 20.60 billion by 2028, at a CAGR of 16.30% during the forecast period.
- The fact that edibles are inconspicuous and allow consumers to devour unknowingly has shifted consumer preferences from smoking to edibles. The food sector has responded to the current market trends by releasing new cannabis-based food products, which have been driven by consumer demand. So far, the most common active chemicals extracted from cannabis utilized in food are cannabidiol (CBD) and tetrahydrocannabinol (THC), which are found to exhibit therapeutic properties. The number of edibles claiming to contain cannabis has exploded in recent years. Pizza, lollipops, chocolate, morning cereal, gummy consistent items, chocolate cookies/brownies, beverages, and beef products are just some of the products infused with cannabis and claim to carry health-promoting components and thus is a novel way to incorporate cannabis chemicals into food products.
- This growing popularity has led edibles to penetrate most of the United States retail, where the state must have some specific cannabis or marijuana-regulated laws. The cannabis edibles segment in Europe is considered to be the fastest-growing category in the cannabis industry, with the likes of sub-categories such as gummies and infused drinks having witnessed a significant growth trajectory in recent years. For instance, according to the Addiction Department of Basel University, Switzerland is to become the first European country to launch a cannabis sales pilot program, namely the "Weed Care" trial program, to study the effects of cannabis legalization in September 2023, which is expected to run for 2.5 years, until March 2025. The survey will include 370 of the program's participants over the age of 18, and the participants' cannabis consumption habits, as well as their overall physical and mental health, will be monitored during the study.
- Moreover, most of the cannabis edible addresses the demand of modern consumers, where the products need to be discreet, easy to use, safe, and of accurate dosages. For instance, in March 2022, RS Group launched CAMU C Plus with Hemp, marking the debut of a vitamin C beverage blended with white grape juice, hemp extract, gamma-aminobutyric acid (GABA), camu camu extract, boasting an impressive 200% vitamin C content. Additionally, they unveiled CAMU C CBD Shot, an innovative product as the market's inaugural CBD extract-infused functional shot.
- Cannabis-infused products such as snacks and beverages are expected to become especially popular among consumers belonging to younger generations owing to the influence of social media trends on platforms such as Instagram and Facebook. This factor is expected to increase product innovations by cannabis-infused product manufacturers to increase their appeal among consumers and to gain a competitive edge in the market.
Cannabis-infused Edible Products Industry Segmentation
Cannabis-infused edible products are consumable items that contain cannabinoids, such as THC or CBD, derived from the cannabis plant. These products encompass a wide range of foods and beverages, providing an alternative way to experience the effects of cannabis, often with delayed and longer-lasting results compared to smoking or vaping.
The global cannabis-infused edible products market is segmented into product type, distribution channel, and geography. On the basis of product type, the market is segmented into food and beverages and dietary supplements. The food segment is bifurcated into chocolates, gummies, mints & tarts, brownies & cookies, and other food, and the beverages segment is further bifurcated into energy drinks, fruit juices, herbal tea, and other beverages. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist stores, online retail stores, and other distribution channels. The study also covers the global level analysis of the major regions, such as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD).
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Cannabis Infused Edible Products Market Size Summary
The cannabis-infused edible products market is experiencing significant growth, driven by shifting consumer preferences from traditional smoking to more discreet and convenient consumption methods. This shift has prompted the food industry to innovate and introduce a variety of cannabis-based products, such as gummies, chocolates, and beverages, which are infused with cannabidiol (CBD) and tetrahydrocannabinol (THC). These products are gaining popularity for their perceived therapeutic benefits and are becoming increasingly available in retail settings across the United States and Europe. The European market, in particular, is witnessing rapid expansion, with countries like Switzerland leading the way in cannabis legalization trials. The demand for discreet, easy-to-use, and accurately dosed products is shaping the market, with younger consumers influenced by social media trends driving product innovations.
The market is characterized by a diverse range of regional and global players, with major companies like Constellation Brands and Tilray exploring cannabis-infused beverages. The collaboration between established brands and new entrants is fostering innovation, as seen with the development of alcohol-free cannabis beer and patented technologies to enhance product absorption. The market's fragmentation is evident with the presence of private-label brands offering organic and sustainable products, which are gaining traction among consumers. As the market continues to evolve, product innovation remains a key strategy for companies to maintain a competitive edge and cater to the growing consumer base seeking cannabis-infused edibles and beverages.
Cannabis Infused Edible Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Food
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2.1.1.1 Chocolates
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2.1.1.2 Gummies
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2.1.1.3 Mints & Tarts
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2.1.1.4 Brownies & Cookies
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2.1.1.5 Other Food
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2.1.2 Beverages
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2.1.2.1 Energy Drinks
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2.1.2.2 Fruit Juices
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2.1.2.3 Herbal Tea
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2.1.2.4 Other Beverages
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2.1.3 Dietary Supplements
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience stores
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2.2.3 Specialist stores
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2.2.4 Online Retail Stores
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2.2.5 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 Japan
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2.3.3.2 Australia
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2.3.3.3 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 Africa
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2.3.4.2 South America
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Cannabis Infused Edible Products Market Size FAQs
What is the current Cannabis Infused Edible Products Market size?
The Cannabis Infused Edible Products Market is projected to register a CAGR of 16.30% during the forecast period (2024-2029)
Who are the key players in Cannabis Infused Edible Products Market?
RS Group, BellRock Brands Inc. (Dixie Elixirs), Canna River, Village Farms International Inc. and Naturecan Ltd are the major companies operating in the Cannabis Infused Edible Products Market.
