PUBLISHER: 360iResearch | PRODUCT CODE: 1496760
PUBLISHER: 360iResearch | PRODUCT CODE: 1496760
[193 Pages Report] The Cannabis-infused Edibles Market size was estimated at USD 5.13 billion in 2023 and expected to reach USD 6.00 billion in 2024, at a CAGR 11.64% to reach USD 11.09 billion by 2030.
Cannabis-infused edibles are food products infused with cannabinoids, an active compound found in the cannabis plant. These edibles can take various forms, including baked goods, chocolates, gummies, beverages, cooking oils, and more. The infusion of cannabis is often achieved by incorporating cannabis extracts such as cannabidiol (CBD), tetrahydrocannabinol (THC), or a combination of both. Increased legalization of cannabis for medical & recreational use, coupled with growing awareness of the health benefits associated with cannabis, has increased the demand for cannabis-infused edible products. Moreover, the rising millennial population demanding cannabis-infused edibles has increased the market scope further. However, difficulty in establishing consistent dosing and potency standards may restrict the market growth. Nevertheless, the development of new forms of edibles that cater to dietary restrictions and preferences, such as vegan or gluten-free options, is expected to add to the market scope in an opportunistic way. Moreover, partnerships with established food and beverage companies could also provide new avenues for market penetration and growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 5.13 billion |
Estimated Year [2024] | USD 6.00 billion |
Forecast Year [2030] | USD 11.09 billion |
CAGR (%) | 11.64% |
Regional Insights
In the Americas, particularly in North America, the market for cannabis-infused edibles has been experiencing significant growth. Countries such as the United States and Canada have made substantial progress in legalizing cannabis for medical as well as recreational use, which has been a pivotal factor contributing to the industry's expansion. In Latin America, the market is less mature, with most countries only beginning to explore medical cannabis programs. Notably, Uruguay has fully legalized cannabis, creating opportunities for edibles, but strict regulations limit the market when compared to North America. Countries, including Mexico and Argentina, are also on the path toward legalization, which could potentially open new markets for cannabis-infused edibles in the future. The EMEA region presents a diverse landscape for cannabis-infused edibles. In Europe, countries such as the Netherlands have a longstanding tolerance policy for cannabis, and edibles are available to a certain extent in coffee shops. Germany, which has a growing medical cannabis market, is poised to witness an increase in demand for edibles as the country continues to develop its regulatory framework. The United Kingdom's nascent medical cannabis program might provide a gateway for the entry of edibles into the market, albeit in a highly regulated medicinal context. The Middle East and parts of Africa have stringent laws regarding cannabis, which limits the market for edibles. However, countries such as Israel are progressive in terms of cannabis research and medicinal use, and this could set the stage for the development of an edibles market in the region. South Africa's recent legalization of private cannabis consumption could also lead to a nascent edibles market in the long term. Asia Pacific's market for cannabis-infused edibles is relatively undeveloped due to strict drug laws across the region. However, signs of change in some economies are moving towards a medicinal cannabis market, potentially paving the way for edibles. Similarly, areas in Oceania, including Australia and New Zealand, have begun exploring medical cannabis programs, with edible products being considered for legalization under specific conditions. In terms of products, the demand in the Asia Pacific region is expected to skew towards medicinal and wellness products, with a focus on non-psychoactive CBD-infused edibles rather than THC-dominant products. Consumer awareness and education will be key in markets where traditional views have a predominant influence.
Market Insights
The market dynamics represent an ever-changing landscape of the Cannabis-infused Edibles Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cannabis-infused Edibles Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cannabis-infused Edibles Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
iAnthus Announces Strategic Partnership with Gron Edibles to Bring an Innovative Women Owned Edible Brand to New Jersey
iAnthus Capital Holdings, Inc. collaborated with Gron, to introduce Gron's signature edibles to the New Jersey market, commencing with its Gron Sugar-Coated Pearl gummies now obtainable at MPX-NJ locales statewide. Gron, embarking on its fifth market expansion, will oversee production in New Jersey to ensure unmatched quality and product uniformity. The initial offering includes an array of sugar-coated pearl gummies, with an expansive selection of chocolates and unique gummies slated for future release, meticulously designed to cater to varied consumer tastes while driving the brand's prominence throughout the state. [Published On: 2024-01-09]
Tilray Launches Cannabis-Infused Premium Belgian Chocolates With Chowie Wowie Edibles Brand
Tilray Brands, Inc. added two new exciting flavors to its Chowie Wowie edible chocolate line, enhancing its already robust portfolio of cannabis edibles. With the introduction of Soft Caramel and Crunchy Praline variants, the brand continues to innovate within the confectionery-inspired cannabis space. With the enriched flavor profiles and consistent performance of their Balanced Milk Chocolate and THC Milk Chocolate, Chowie Wowie is expanding its reach across key Canadian markets such as Ontario, British Columbia, Alberta, and Saskatchewan. [Published On: 2023-12-21]
Curaleaf Expands Brand Portfolio with Launch of JAMS Cannabis-Infused Edibles
Curaleaf Holdings, Inc. introduced a new delectable edibles brand, JAMS, to its portfolio, designed to satisfy burgeoning consumer demand, particularly for those new to cannabis edibles or seeking a foray into their delights. JAMS offers a spectrum of appealing flavors and potent formulas, featuring treats from microdoseable Tarts to luxuriant Chocos, all employing nano and liposomal technology to ensure uniformity and effectiveness. The array includes Jellies, Fast-Acting Jellies, and Chocos, each crafted for a memorable gustatory experience and swift onset of effects. [Published On: 2023-03-27]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cannabis-infused Edibles Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cannabis-infused Edibles Market, highlighting leading vendors and their innovative profiles. These include Ananda Food by Ecofibre Limited, Atlas Growers Ltd., Auntie Dolores, Aurora Cannabis Inc., Baked Bros, Balanced Health Botanicals by Village Farms International, Bhang Inc., Cannabinoid Creations, Cannabis Energy Drink, Canopy Growth Corporation, Charlotte's Web Holdings Inc, Cheeba Chews, Chef Rubber, Coast Cannabis Co., Cresco Labs, LLC, Cronos Group Inc., Curaleaf Holdings Inc., CV Sciences, Inc., Dixie Group, Inc., Elixinol LLC, Evergreen herbal limited, Green Organic Dutchman Holdings Ltd., Green Thumb Industries Inc., HEAVENLY SWEET CALIFORNIA, HeavenlyRx, Ltd., Heineken International B.V., Isodiol International Inc., Joy Organics LLC, Kats Botanicals, Kaya Holdings, Inc., Kazmira LLC, Kiva Confections, Koios Beverage Corp, Medical Marijuana Inc., Medically Correct LLC, Medix CBD, Melodiol Global Health Limited, Mentor Cannabis, Inc., Mirth Provisions, Organigram Holdings Inc., Plus Products Inc. By Glass House Brands, Resonate Blends, Inc., Tilray Inc., and White Rabbit.
Market Segmentation & Coverage