Cannabis-infused edible products are food and beverages that include cannabis-infused drugs extracted from the cannabis Sativa plant. Drugs can be classified into tetrahydrocannabinol (THC) and cannabidiol (CBD). Tetrahydrocannabinol is widely used for medical purposes, while cannabidiol is a non-psychoactive drug used in both medical and non-medical applications. Cannabis-infused edible products are referred to as healthcare alternatives to smoking cannabis as they lower exposure to carcinogens, tar, and carbon. Such products are widely used in treating hyperemesis, anxiety, depression, chronic pain, inflammation, insomnia, and several others. The cannabis-infused edible products include gummies, pills, spreads, snacks, cookies, brownies, chocolate, etc. The global cannabis-infused edible products market is expected to reach a CAGR of 5.44%.
The growing aversions regarding smoking cannabis, along with growing health concerns associated with the high prevalence of respiratory diseases are factors majorly steering the growth of the global cannabis-infused edible products market. In addition, the ease in the legalization of recreational cannabis around several regions, including Spain, Netherlands, Argentina, Canada, United States is further implementing the growth of the market.
The growing awareness among consumers regarding the health benefits of cannabis-infused edible products, particularly in relieving nausea and muscle spasms, is likely to further augment the demand for these products. Furthermore, there is a growing trend of using hemp and cannabidiol in pet food products to treat joint pain, anxiety, osteoporosis, and epilepsy, which is also likely to positively impact the growth of the global market.
The global cannabis-infused edible products market can be segmented into the distribution channel, product type, and region.
By distribution channel, the market can be segmented into online stores, specialty stores, convenience stores, supermarkets, hypermarkets, and others.
By product, the market can be segmented into food and beverages. The food segment can further be bifurcated into brownies, mints, gummies, chocolates, and others. However, the beverage segment can further be bifurcated into herbal tea, fruit juices, energy drinks, and others.
North America accounts for the largest share in the global cannabis-infused edible products market due to the growing frequency of new product launches in the cannabis sector. However, the microdosing of cannabis, particularly in food and beverages, is likely to fix some standard and new heights in the forthcoming year, which in turn is also likely to scale up the growth of the regional market.
Some of the significant players in the global cannabis-infused edible products market are Kiva Confections, Charlotte’s Web, Cannabinoid Creations, Dixie Elixirs, Sprig, Botanic Labs., Bhang Corporation, Mentor Capital Ltd., VCC BRANDS, and Phivida Holdings Inc. To cite, the Canadian government in 2018 promoted cannabis consumption among adults and further in October 2019 authorized the usage of cannabis fortified edibles.
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