1. Global Cannabis Infused Edibles Market Insight Analysis
In 2024, the global Cannabis infused Edibles market is forecasted to reach a revenue of $16,292.85 million, with a Compound Annual Growth Rate (CAGR) of 47.70% from 2024 to 2033.
Cannabis-infused edibles are food or beverage products that contain cannabinoids, particularly tetrahydrocannabinol (THC) and cannabidiol (CBD). These products offer a range of effects, including relaxation, euphoria, increased appetite, and pain relief. The market for cannabis-infused edibles has evolved significantly in recent years, driven by advancements in extraction techniques and the development of high-quality, consumer-friendly products. From gourmet chocolates and gummies to beverages and snacks, cannabis-infused edibles provide a discreet and convenient way for consumers to experience the benefits of cannabis. The growing acceptance of cannabis for both medical and recreational purposes has further fueled the expansion of this market.
Figure Global Cannabis Infused Edibles Market Size (M USD) and CAGR (2024-2033)
2. Driving and Limiting Factors of Cannabis Infused Edibles Market Growth
The growth of the global Cannabis infused Edibles market is influenced by several key factors. On the positive side, the increasing legalization of cannabis in various countries and states has opened up new markets and opportunities for businesses. For example, the legalization of cannabis-infused edibles in Canada in 2019 has led to a surge in demand and product innovation.
Additionally, the growing awareness of the health benefits of cannabis, such as pain relief, anti-inflammatory properties, and anxiety reduction, has driven consumer interest. The rise in disposable income and the increasing demand for natural and alternative health products have also contributed to the market’s expansion.
However, the market also faces several challenges. One of the primary limiting factors is the strict regulatory environment surrounding cannabis products. Governments in many regions still impose significant restrictions on the production, distribution, and sale of cannabis-infused edibles. These regulations can increase operational costs and limit market access for businesses.
Social stigma and misconceptions about cannabis also pose a barrier to market growth, as some consumers remain hesitant to try cannabis-infused products due to lingering negative perceptions. Furthermore, the variability in product quality and dosage consistency can lead to inconsistent consumer experiences, which may deter potential buyers.
3. Technology Innovation and Corporate Mergers and Acquisitions in Cannabis Infused Edibles Market
The Cannabis infused Edibles market is experiencing rapid technological innovation, particularly in the areas of extraction, formulation, and production. Advances in cannabis extraction techniques have enabled manufacturers to produce higher-quality, more potent, and consistent products. The development of new formulations and delivery methods, such as nanoemulsions and encapsulation technologies, has improved the bioavailability and effectiveness of cannabinoids in edibles. Additionally, the integration of automation and digital technologies in the production process has enhanced efficiency, reduced costs, and improved product safety and quality.
Corporate mergers and acquisitions (M&A) have also played a significant role in shaping the market. Major players in the industry are increasingly looking to expand their product portfolios and market reach through strategic partnerships and acquisitions. For example, Klutch Cannabis partnered with Kiva Confections to bring premium cannabis confections to Ohio, while Liberty Health Sciences partnered with VCC Brands to introduce a range of cannabis-infused products to Florida. These strategic moves not only enhance the market presence of these companies but also drive innovation and product diversification.
4. Global Cannabis Infused Edibles Market Size by Type
Cannabis infused edibles can be broadly categorized into two main product types: Food and Beverage.
Food category includes a wide range of products such as chocolates, gummies, baked goods, and snacks. These products are popular for their discreet and convenient consumption methods. The revenue for cannabis infused food products in 2024 is forecasted to be $14,658.65 million USD.
Beverage category encompasses drinks such as sparkling waters, teas, and energy drinks infused with cannabis extracts. Beverages offer a refreshing alternative to traditional smoking methods and are gaining traction among health-conscious consumers. The market revenue for cannabis infused beverages in 2024 is projected to be $1,634.19 million USD.
Table Global Cannabis Infused Edibles Market Size by Type in 2024
5. Global Cannabis Infused Edibles Market Size by Application
The cannabis infused edibles market can be segmented by various applications, including Pharmacy, Supermarkets and Hypermarkets, Online Shopping Mall, and Others.
Pharmacy application involves the sale of cannabis infused edibles through licensed pharmacies. These products are often marketed for their medicinal benefits and are targeted at patients seeking relief from chronic pain, anxiety, and other conditions. The market revenue for pharmacy applications in 2024 is forecasted to be $14,035.44 million USD.
Supermarkets and Hypermarkets segment includes the sale of cannabis infused edibles through large retail stores. These products are typically available in the health and wellness sections and cater to consumers looking for convenient access to cannabis products. The market revenue for supermarkets and hypermarkets in 2024 is projected to be $1,336.86 million USD.
Online Shopping Mall segment has grown significantly with the rise of e-commerce. Consumers can purchase cannabis infused edibles through various online platforms, offering convenience and a wide selection of products. The market revenue for online shopping malls in 2024 is expected to be $730.23 million USD.
Table Global Cannabis Infused Edibles Market Size by Application in 2024
Application | Market Size (M USD) 2024 |
Pharmacy | 14035.44 |
Supermarkets and Hypermarkets | 1336.86 |
Online shopping mall | 730.23 |
Others | 190.31 |
6. Global Cannabis Infused Edibles Market by Top Regions
North America is the largest regional market for Cannabis infused Edibles, with a forecasted revenue of $13,235.32 million in 2024. This region’s dominance is attributed to several factors, including early legalization efforts, a robust cannabis industry infrastructure, and a high level of consumer awareness and acceptance. The United States, in particular, has seen significant growth in states like California, Colorado, and Oregon, where cannabis-infused products are widely available in dispensaries and retail stores. Canada’s legalization of cannabis in 2018 has also contributed to the region’s market growth, with companies like Canopy Growth Corp leading the way in product innovation and distribution.
Europe is the fastest-growing region in the Cannabis infused Edibles market, with a forecasted revenue of $2,827.00 million in 2024. This rapid growth is driven by increasing legalization efforts in countries such as Germany, the United Kingdom, and Spain. The European market is also benefiting from a growing consumer interest in natural and alternative health products, as well as the region’s strong pharmaceutical and wellness sectors. Companies like Bhang Corporation and Organigram Holdings are actively expanding their presence in Europe, leveraging the region’s potential for growth.
Figure Global Cannabis Infused Edibles Market Size by Region in 2024
7. Global Cannabis Infused Edibles Market Analysis by Major Players
7.1 KIVA CONFECTIONS
Company Introduction and Business Overview
KIVA Confections is a leading cannabis infused edibles company based in California. Established in 2010, KIVA Confections has become one of the most recognized brands in the cannabis industry. The company is known for its high-quality, artisanal confections that combine cannabis extracts with premium ingredients. KIVA Confections’ products are available in hundreds of dispensaries across California, Arizona, Nevada, Illinois, Michigan, and Hawaii.
Products Offered
KIVA Confections offers a diverse range of cannabis infused edibles, including:
Camino Gummies: These gummies are infused with natural terpenes and cannabinoids, providing a tailored experience for consumers.
Kiva Bars: A blend of cold-water hash, premium ingredients, and sustainably sourced cacao, these bars offer a rich and indulgent experience.
Terra Bites: These cold-water hash-infused chocolate confections are designed for precise dosing and convenience.
Petra Mints: Highly portable and subtly powerful, these microdosed mints provide an optimal edibles experience.
7.2 VCC BRANDS
Company Introduction and Business Overview
VCC Brands, originally known as Venice Cookie Company, was founded in 2008 in Venice Beach, California. The company focuses on creating plant-based wellness products that are inclusive and revitalizing. VCC Brands has gained recognition for its innovative approach to cannabis infused edibles, combining traditional baking techniques with modern cannabis extracts.
Products Offered
VCC Brands offers a variety of cannabis infused products, including:
Cookies and Pretzels: These baked goods are infused with cannabis oil, providing a delicious and convenient way to consume cannabinoids.
Lozenges: These easy-to-use lozenges offer a discreet and effective method for consuming cannabis.
Beverages: VCC Brands also offers cannabis infused beverages, such as Cannabis Quenchers, which combine the benefits of cannabis with refreshing flavors.
7.3 Wana Brand
Company Introduction and Business Overview
Wana Brand is a leading cannabis infused products company based in Colorado. Established in 2010, Wana Brand has become a household name in the cannabis industry, known for its high-quality edibles and commitment to innovation. The company’s products are available in multiple states across the United States.
Products Offered
Wana Brand offers a wide range of cannabis infused edibles, including:
Sour Gummies: These gummies are infused with premium broad-spectrum hemp oil and come in various flavors.
Capsules: Wana Brand’s capsules provide a convenient and precise way to consume cannabinoids.
Vape Products: The company also offers vape products for consumers seeking a different method of consumption.