Global Cannabis Edibles Market Share Is Likely To Reach At A CAGR Value Of Around 32.041% By 2030

04-May-2023 | Facts and Factors

According to the Facts and Factors report, the global cannabis edibles market size was worth around USD 20.5 billion in 2022 and is predicted to grow to around USD 197.75 billion by 2030 with a compound annual growth rate (CAGR) of roughly 32.041% between 2023 and 2030.

The industry refers to the sale and production of edible items that are prepared or infused with the cannabidiol (CBD) which is a non-psychoactive compound extracted from the cannabis plant. Some studies believe that CBD edibles have a therapeutic effect and hence it is gaining high popularity in certain regions, especially in North America due to the positive effect they have when used in controlled environments. These edibles can be used for treating conditions like anxiety, and inflammation and may also provide pain relief. CBD edibles also offer discreteness in terms of CBD consumption.

The demand for CBD consumables is on the rise and is expected to soon become a nearly USD 200 billion industry until the end of the decade. However, more research is needed for CB edibles to attain the confidence that other food or beverage items have attained in the commercial world.

Browse the full “Cannabis Edibles Market Size, Share, Growth Analysis Report By Application (Industrial, Medical, and Recreational), By Type (Concentrates and Flowers), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/cannabis-edibles-market

The global cannabis edibles market is projected to grow owing to rising health and wellness-related trends amongst the general population. Gone are the days when people solely relied on traditional means for achieving better health.

With the explosion of social media influences across channels like Youtube and Instagram, the number of people providing scientifically-backed information on a holistic approach to health has increased over the years. This has resulted in mass awareness about the non-traditional ways of managing certain mental conditions causing more demand for CBD edibles.

Furthermore, the otherwise recreational plant is gaining a lot of attention from the research community that is investing multiple resources in learning about future applications of cannabis and induced edibles.

In addition to this, the changing mindset and perception of people regarding cannabis may work in the favor of the industry. Moreover, rising rates of legalization in some parts of the world allowing prescribed consumption of cannabis edibles may also result in higher revenue.

The global industry is plagued with large-scale negative perceptions amongst the medical community along with the general population. Even if the awareness rate around the advantages of CBD edibles is growing, a large section of the target consumer groups has negative recognition of cannabis in general. This acts as a roadblock for the market players to tap into new markets.

Additionally, the lack of standardization of regulations surrounding the production of CBD edibles and their distribution may impact the CAGR of the market. Moreover, CBD edibles are generally considered safe for use but if consumed irresponsibly, they may lead to severe health concerns and addiction.

The growing awareness may provide excellent growth opportunities while the lack of standard regulatory measures could challenge market growth.

Segmental Overview:

The global cannabis edibles market is segmented based on application, type, and region.

Based on application, the global market segments are industrial, medical, and recreational.

• The industry witnessed the highest growth in the recreational segment in 2022 since it still remains a major contributor in the market for the last few years
• The growing legalization in the recreational sector for the consumption of marijuana in various states and countries is a major reason for segmental dominance
• Furthermore, a lot of consumers prefer to consume CBD discreetly in the form of edibles to avoid any unwanted attention from legal authorities
• The segment for medical applications is growing steadily as the benefits of CBD edibles are being explored
• A 2017 report by the European authorities found that almost 86.7 million adults in the region have experimented with cannabis at some point in their lives

Based on type, the global market segments are concentrates and flowers

• The market registered the highest growth in the flowers segment in 2022 due to higher preference in the consumer group
• Advanced vaporizers are a leading factor for segmental revenue as the higher boiling temperature of the cannabinoids in comparison to the boiling temperature of the flower itself allows makers to easily extract the compound
• However, the extracts from flowers or concentrates tend to exhibit a strong smell and taste and they are mostly associated with vaporizing
• Withdrawal symptoms associated with cannabis consumption generally sets in after 1 or 2 days post cessation

Regional Overview:

The global cannabis edibles market is projected to register the highest growth in North America since it already has an established consumer database in the regions of the US and Canada. One important aspect for higher growth is the increased rate of legalization for the commercial sale of CBD edibles along with the rising number of players offering a variety of products across the price range, tastes, shapes, flavors, and designs. Moreover, these consumables have a better acceptance in North America as compared to other regions.

Although discreet consumption of CBD edibles in Asia-Pacific and Europe is surging, the products have not received the necessary legal approvals in these regions to be sold as any other edible product. In Asia-Pacific, the market is highly regulated and faces strict laws banning the production and consumption of the products.

Report Scope

Competitive Landscape:

The global cannabis edibles market is Organigram Holdings Inc., Aurora Cannabis Inc., Charlotte's Web Holdings, Inc., Canopy Growth Corporation, Plus Products Inc., Wana Brands, KushCo Holdings, Inc., Medical Marijuana, Inc., Tilray Inc., Terra Tech Corp., Cronos Group Inc., Dixie Brands Inc., Lord Jones LLC, Aphria Inc., Nutritional High International Inc., The Green Organic Dutchman, Bhang Inc., HEXO Corp., Kiva Confections, and Americann Inc.

Recent Developments:

• In November 2022, Mike Tyson and Evander Holyfield, two of the world’s most famous boxing champions who once fought against each other, announced the launch of Holy Ears, which is a segment of Delta 8 and THC-infused edibles. Mike Tyson infamously bit Evander Holyfield’s ear during one of their fights
• In August 2022, SLANG Worldwide Inc. announced the launch of THC and Alchemy Naturals CBD Gummies, diversifying its already expansive product portfolio

The global cannabis edibles market is segmented  as follows:

By Application

• Medical
• Recreational

By Type

• Concentrates
• Flowers

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Facts & Factors
A - 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: [email protected]
Web: https://www.fnfresearch.com