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 share, trends, 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 increasing integration of cannabis into the wellness and self-care industries as consumers are seeking products that offer relaxation and stress relief is strengthening the market growth. In line with this, the rise of homebound activities during the pandemic has boosted demand for edibles as a convenient recreational option thus providing an impetus to the market growth. Besides this, the rising trend of personalized and tailored cannabis experiences, with consumers seeking edibles that match their specific wellness goals or lifestyle preferences, is contributing to the market expansion.

Moreover, collaborations between cannabis brands and mainstream food and beverage (F&B) companies are expanding market reach and consumer trust.

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Factors Affecting the Growth of the Cannabis-Infused Edible Products Industry:

·         The increasing legalization of cannabis:

The expanding legalization of cannabis for both medical and recreational use across various regions is a primary driver of the cannabis-infused edible products market. As more states and countries decriminalize and legalize cannabis, the market for infused edible products has seen significant growth. Legalization makes cannabis products more accessible to a broader consumer base and legitimizes the industry, encouraging investment and innovation. In regions where cannabis is legal, consumers have greater confidence in purchasing regulated products that meet safety and quality standards.

Additionally, governments in legalized markets often establish clear guidelines for the production, labeling, and sale of cannabis-infused edibles, which fosters a competitive and transparent market, thus supporting the market expansion.

·         Growing consumer preference for alternative consumption methods:

Edibles offer a discreet, convenient, and smoke-free way to consume cannabis, appealing to both new and experienced users. This shift in consumer behavior is partly driven by health concerns, as inhaling smoke can have adverse effects on the lungs and respiratory system. Edibles provide a safer option for those who want to avoid these risks.

Furthermore, the delayed onset and longer-lasting effects of edibles compared to smoking or vaping are attractive to consumers seeking a more controlled and sustained experience. Edibles also allow for precise dosing, making it easier for users to manage their intake and achieve their desired effects. This trend is particularly evident among health-conscious consumers and those who use cannabis for therapeutic purposes, as edibles can be easily integrated into a wellness routine, bolstering the market growth.

·         Advancements in product innovation and diversity:

The cannabis-infused edible products market is also driven by continuous innovation and the increasing diversity of products available to consumers. Manufacturers are developing a wide range of edible options, from gummies and chocolates to beverages and baked goods, catering to different tastes and preferences. This product diversity not only attracts a broader audience but also allows consumers to explore and find products that suit their lifestyles and needs. Advances in infusion technology and extraction methods have improved the consistency, potency, and flavor of edibles, making them more appealing to consumers. Also, the focus on organic, vegan, gluten-free, and other specialty products reflect the broader consumer demand for health-conscious and ethically produced goods, aiding 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

On the basis of product type, the market is divided into food and beverages.

By Distribution Channel:

·         Supermarkets and Hypermarkets

·         Convenience Stores

·         Specialist Stores

·         Online Stores

·         Others

Based on the distribution channel, the market is classified into supermarkets and hypermarkets, convenience stores, specialist stores, online stores, and others.

Regional Insights:

·         North America

·         Asia Pacific

·         Europe

·         Latin America

·         Middle East and Africa

Based on the region, the market is segregated into North America (the 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 Middle East and Africa.

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.

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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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