Cannabis Edibles Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Nature Coverage, Type Coverage, Sales Channel Coverage, Geographic Coverage and By Company)

The global cannabis edibles market is on the brink of remarkable expansion, with the publisher forecasting an impressive CAGR of 13.9% between 2023 and 2030. The market, which recorded revenue of $9.6 billion in 2022, is projected to surge to a staggering $27.2 billion by the end of 2030.

Key Market Trends

1. Shift from Smoking to Edibles: The market for cannabis edible products is primarily driven by the increasing concern over respiratory diseases associated with smoking cannabis, leading to a preference for edibles.
2. Health Benefits Awareness: Growing public awareness of the health benefits of cannabis edibles, including their potential to alleviate symptoms in cancer patients and provide pain relief, muscle spasm reduction, and appetite enhancement, is boosting the industry.
3. Regulatory Challenges: Stringent government regulations and prohibitions on marijuana and cannabis product supply and sale in various countries hinder market expansion.
4. Conventional Segment Dominates: In 2022, the conventional segment dominated the market, possibly due to components used in traditional cannabis edibles that may not adhere to organic growing standards.
5. Gummies Lead Category: The gummies category took the lead in 2022, offering various options, including high THC content gummies for recreational users and balanced cannabis content gummies for potential medicinal benefits without euphoric effects.
6. Online Sales Flourish: The online category dominated the cannabis edibles market in 2022, driven by the ease of use and rapid market penetration of cannabis edible products on e-commerce platforms.
7. North America's Dominance: North America is expected to account for the largest share of the global cannabis edibles market, with growing demand for cannabis-infused foods and beverages, such as candies, chocolates, and flavored beverages.
8. Asia Pacific's Rapid Growth: The Asia Pacific region is set to experience the highest growth rate due to increasing consumer awareness and acceptance of cannabis-related products, despite varying cannabis laws across the region.

Key Growth Determinants

Legalization Momentum: The global edible cannabis market is expected to grow significantly due to the easing of cannabis-related laws and regulations worldwide. The shift towards edible cannabis is driven by concerns over the negative effects of smoking.

Healthcare Adoption: Cannabis edibles gain popularity for their health benefits in stress relief and chronic pain management. Collaboration between businesses in the cannabis edibles sector and academia is expected to create products catering to the pharmaceutical and healthcare sectors.

E-commerce Sales Surge: Sales of products containing hemp and cannabis have surged, especially since the onset of the pandemic. Increased online and offline channels, e-commerce sector growth, and rapid expansion of online businesses boost demand for cannabis edibles.

Major Growth Barriers

Lack of Awareness: Inadequate awareness and safety information about edible cannabis in developing countries hinder market growth. Stigma, misconceptions, and stringent government regulations also constrain the global industry.

Stigma and Misconceptions: Misinformation and stigma surrounding cannabis impede market growth, even where it is legalized, due to negative perceptions and stereotypes.

Regional Highlights

North America Leads: North America dominates the cannabis edibles market, supported by key players, lifestyle changes, and technological advancements. Legalization for medical and recreational use contributes to market expansion.

Asia Pacific Potential: The Asia Pacific region shows exceptional growth potential, driven by available raw materials and increasing industrialization. Legalization for personal consumption in some emerging countries fuels market growth.

Competitive Landscape Analysis

The global cannabis edibles market is characterized by fragmentation, with numerous regional and international manufacturers. Companies are expanding their distribution networks, partnering with or acquiring other businesses, and focusing on product innovation to gain a competitive edge.

Global Cannabis Edibles Market is Segmented as Below:

By Nature

• Organic
• Conventional

By Type

• Chocolates & Candies
• Gummies
• Snacks
• Supplements
• Beverages
• Others

By Sales Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Online Retail

By Geographic Coverage:

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Turkey
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• India
• Southeast Asia
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• GCC
• South Africa
• Egypt
• Nigeria
• Rest of Middle East & Africa

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