Legal cannabis food & beverage is a thriving market across the globe. World perception towards cannabis is changing remarkably, even governments across the globe are believing cannabis should be removed from the criminal justice system and regulated like alcohol and tobacco. Cannabis is one of the hottest topics in the food and beverage industry. Cannabidiol-infused food & beverage products are witnessing great demand across the globe especially in countries with minimum restriction for cannabis. The global cannabis-infused food & beverage market was estimated at USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period i.e. 2019-2024.
Growth Drivers – Cannabis-infused Food & Beverage Market
Cannabis laws are changing at a rapid pace across every region. Governments across the globe are legalizing some form of marijuana to be used in specific applications. As the governments are easing the rules regarding marijuana use, the food & beverage industry is stepping forward to dig benefits from this trend. This rise in interest among food & beverage industry regarding cannabis is likely to encourage the market growth of cannabis-infused edibles in the coming years. Even mainstream companies are looking forward to investing in cannabis-infused food & beverage space. Among many legalized forms of marijuana, Cannabidiol (CBD) is the most appreciated form in the food & beverage industry.
Health and Wellness
Health and Wellness is a trend that has been the fundamental driver of cannabis-infused food and beverages market worldwide, and it is expected that this trend will continue to accelerate in the upcoming years. Cannabis infused products such as cannabinoid-infused food & beverage offer numerous health benefits and it is being consumed by millions of people either for pleasure or to treat conditions, such as chronic pain, cancer-related symptoms, and anxiety.
Introduction of Different Cannabis-infused Food & Beverage Products
Cannabis-infused food & beverage products come in many different varieties including brownies, candy, chocolate bars, cookies, drinks, pills, snacks, spreads and more. Food & beverage companies are constantly introducing new food & beverage products infused with different forms of cannabis in order to target different consumer categories. Although, there are so many delicious products currently available—from sweets like chocolates, ice cream or candies to savory items like medicated pizza, BBQ sauce or chips, the possibilities appear to be endless when it comes to these cannabis-infused foods & beverage products.
Changing Consumer Preference
With a rising disposable income of the consumers and improving living standards has encouraged the demand for innovations in food & beverage. Consumers want fortified and functional foods that promote gut health, fuel their brains and benefit their physical appearance. Consumers across the globe are getting aware of cannabis-infused food & beverage products through internet and social media and are extremely excited to bring these products to their dining table. Apart from this, patients are also great lovers of cannabis-infused edibles as it helps them to relax and to tackle chronic diseases.
Barriers – Cannabis-infused Food & Beverage Market
Potential Health Risks
The major threats to the progression of cannabis-infused food & beverage products markets are potential health risks associated with consumption of such products. Consuming several forms of cannabis-infused food & beverage products can be psychoactive and can also create health issue to consumers with a weak physical condition. There are several cases registered of patients having problems with consumption of cannabis-infused food & beverage products.
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Market Trends – Cannabis-infused Food & Beverage Market
Online Stores for Cannabis-infused Food & Beverage Products
The manufactures of such products are strongly considering online channels to market & distribute these cannabis-infused foods & beverage products. Online stores have emerged as the most favorable sales channel in cannabis-infused food & beverage products market since it is easily accessible to large consumer base around the globe.
The cannabis-infused food & beverage market is segmented in different categories including by purpose, distribution channel and by product type. The market is segmented by purpose into recreational and medical. Among this segment, the medical segment is expected to capture lion shares of the market in 2018. Global cannabis-infused food & beverage for medical purposes segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024. Cannabis-infused food & beverage products with medicinal qualities are most purchased products in recent years, however, cannabis-infused products for recreational purposes are gaining traction are likely to grow the segment at an unprecedent rate in the upcoming years.
Moreover, based on the product type, cannabis-infused food & beverage market is further sub-segmented into food and beverage products. Among this segment, food segment comprising of a range of food products such as smoothies, gummies, and others is expected to dominate cannabis-infused food & beverage market during the forecasted period and to grow at a CAGR of XX.X% over the forecast period. Apart from this, the beverage segment comprising of products such as tea, juice, water and is projected to witness remarkable growth in the upcoming years.
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to cannabis-infused food & beverage market, North America is the leader in the legalization of cannabis is dominating the market. The North America region has acquired major market shares and is poised to continue its dominance in the coming years. Legalization of cannabis in North American countries has fueled the market in this region. However, Europe cannabis-infused food & beverage market is about to register a strong growth rate in the coming years as Europe is starting to embrace the shift towards marijuana legalization.
The report also covers detailed competitive analysis of major market players of the global cannabis-infused food & beverage market, such as Neurogan, ACME Naturals, Single Seed, PureKana, Leif Goods, Not Pot, Lord Jones, CBD Genesis, Alchimiaweb S.L., CannaCraft, and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
- Cannabis-infused Food
- Cannabis-infused Beverage
By Distribution Channel:
- Online Stores
- Offline Stores
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
The report profiles various major market players such as
- ACME Naturals
- Leif Goods
- Not Pot
- Lord Jones
- CBD Genesis
- Alchimiaweb S.L.
- Other Major & Niche Players
The study also provides a company’s positioning and market share in cannabis-infused food & beverage market.
Timeline Considered for Analysis:
- 2018: Base Year
- 2019: Estimated Year
- 2019 to 2024: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global cannabis-infused food & beverage market by the following segments:
- Product Type
- Distribution Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Cannabis Infused Food & Beverage Industry Report
- What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
- Which region would have a high demand for the product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?