TMR market survey of Cannabis-Infused Edibles by Size, Share, Growth, Trends, and Forecast

Cannabis-Infused Edibles Market Forecast and CAGR

According to the latest research by Transparency Market Research, the cannabis-infused edibles market is set to witness significant growth during the forecast period 2021-2031. The growing acceptance of cannabis and cannabis-infused products around the globe is the key factor that significantly contributes to the growth of the cannabis-infused edibles market.

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What is Driving Demand for Cannabis-Infused Edibles Market?

According to a National Restaurant Association study, three out of four chefs considered cannabis-infused food a hot trend in 2020. With cannabis legalization in several countries, the consumers are exploring more choices for edible which contains a small dose of cannabis. The functional benefits of cannabis-infused edibles, like anti-inflammatory activity, pain relief, anxiety reduction are attracting the attention of the consumer.

The increasing demand for different flavors of cannabis-infused edibles motivated the food & beverage manufacturer to concentrate on seasonal flavors with a small dose of cannabis. According to a recent study, 58% of cannabis users are interested in trying or purchasing cannabis-infused chocolate, and 47% are interested in sugar confectionery edibles. Thus, increasing demand for cannabis-infused food & beverages is driving the growth of the cannabis-infused edibles market.

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Rising Acceptance of cannabis-infused edibles

The opinion about cannabis-infused edibles is changing among the consumer as well as most of the country shifting towards the legalization of the recreational and medicinal use of cannabis. The growing acceptance of cannabis-infused food and beverages is expected to create many opportunities for the new and existing market players in different regions around the globe.

Cannabis edibles are widely used for medical use and are extensively accepted by the developed countries such as U.S., Canada, Spain, Australia, and others. Cannabis is used to treat Alzheimer’s, arthritics diseases which are expected to propel the growth of the market.

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With the increasing awareness about cannabis-infused edibles among consumers, the manufacturers offering different food and beverages which contain a limited amount of cannabis extract or oil. The manufacturer introducing new products with consumer demand and needs such as Province brands, which is Canadian research and Development Company that introduces the world’s first alcohol-free beer brewed from cannabis.

COVID-19 outbreak created an anxious situation among the food & beverage manufacturer owing to the trade barriers, but the steady demand for cannabis edible has minimal impact on the cannabis market in the U.S and other countries. For instance, in the U.S. cannabis edibles sales were increased by 10.6% during the pandemic owing to the health beneficial properties. Thus, the health beneficial properties of cannabis are expected to escalate the growth of the cannabis-infused edibles market.

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