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Cannabis Edibles Market Size - By Type (Baked goods, Confectionery, Beverages, Spreads), Cannabinoid Content (Tetrahydrocannabinol (THC)-dominant, Cannabidiol (CBD)-dominant, Balanced THC/CBD), Distribution Channel, Regional Outlook & Forecast, 2023 – 2032

  • Report ID: GMI7059
  • Published Date: Oct 2023
  • Report Format: PDF

Cannabis Edibles Market Size

Cannabis Edibles Market size was valued at USD 8.01 billion in 2022 and is estimated to observe around 16.5% CAGR from 2023 to 2032. The growing preference among consumers for convenient, discrete, and smoke-free consumption techniques is the main factor driving the rise in demand for cannabis edibles. Cannabis edibles appeal to a wider range of consumers because they provide a good alternative to conventional smoking or vaping. Additionally, edibles' precise dosing and longer-lasting effects, as well as the opportunity for a wide range of flavors and formulas, add to their increasing appeal, making them a crucial factor in the market for cannabis' expansion.
 

Cannabis Edibles Market

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The cannabis edibles industry is expanding rapidly as people become more aware of the several health advantages of cannabis usage. As the stigma associated with cannabis fades and its potential medicinal and therapeutic benefits become more widely recognized, consumers are increasingly turning to cannabis-infused edibles as a discreet and simple way to utilize the plant's qualities. This market is thriving as it grows into an important option for people looking for alternatives to conventional cannabis consumption methods, all while capitalizing on the health-promoting properties of this adaptable plant, owing to the expanding variety of edible products catering to diverse preferences and dietary needs.
 

The cannabis edibles market faces significant constraints due to stringent government regulations. These regional restrictions put rigorous limitations on the production, marketing, labeling, and distribution of cannabis-infused foods. They frequently include THC concentration restrictions, explicit dose instructions, child-resistant package regulations, and advertising prohibitions. These rigorous requirements not only raise compliance costs for companies, but they can also limit product innovation and distribution, providing difficulties to market expansion and new business entrance. Furthermore, legislative discrepancies and uncertainties between jurisdictions complicate the cannabis edibles business environment, possibly impeding its full potential.
 

COVID-19 Impact

The COVID-19 pandemic has had a mixed influence on the cannabis edibles industry. While early supply chain interruptions and shop closures created uncertainty, the market subsequently recovered as customer demand for edibles increased during lockdowns due to reasons such as stress alleviation and relaxation. The transition to online and contactless purchasing aided the market's recovery. However, continued regulatory issues as well as the economic effect of the pandemic had hampered market expansion, creating a complicated environment with both obstacles and possibilities for industry players.
 

Cannabis Edibles Market Trends

The cannabis edibles industry has grown and evolved significantly, driven by changing perceptions regarding cannabis usage and an expanded diversity of product choices. Customers are increasingly looking for discreet and simple methods to include cannabis into their lives, and edibles, with their numerous product kinds such as chocolates, candies, and drinks, have grown in popularity. Furthermore, cannabis legalization and regulation in many regions has supported market expansion.
 

Cannabis Edibles Market Analysis:

Cannabis Edibles Market Size, By Type, 2021 - 2032 (USD Billion)

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Based on type, the baked goods segment dominated around USD 4.27 billion revenue in 2022. This is most likely owing to their familiarity and simplicity of use. Cookies, brownies, cakes, and muffins are some of the most popular cannabis-infused baked items. Cannabis edible baked items are becoming increasingly popular. This is due to a multitude of variables, including convenience, diversity, discretion, health advantages, and cannabis's expanding legality.
 

Cannabis Edibles Market Revenue Share, By Cannabinoid Content, (2022)

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Based on cannabinoid content, the Tetrahydrocannabinol (THC)-dominant segment accounted for 50.5% of the cannabis edibles market share in 2022. THC-dominant edibles with high strength are becoming increasingly popular among consumers. This is due to the fact that some customers choose a stronger psychedelic experience, whilst others seek edibles that can give relief from medical issues like as chronic pain and anxiety.
 

Based on distribution channel, the dispensaries segment is anticipated to grow at 17% CAGR through 2032. Dispensaries are frequently placed in convenient areas and provide a diverse selection of cannabis edibles. This makes it simple for customers to discover the things they need. Staff at dispensaries have knowledge about cannabis edibles and can assist customers in selecting the best products for their requirements. This is especially crucial for first-time buyers or those seeking edibles to address specific medical issues.
 

North America Cannabis Edibles Market Revenue, 2021 - 2032 (USD Billion)

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North America cannabis edibles market size held over USD 3.60 billion in 2022, owing to a variety of factors, including high incidence of infertility, increased awareness of reproductive concerns, and a robust healthcare system. The legalization of recreational cannabis in Canada and many states in the United States has created a legal market for cannabis edibles. This has made it easier and safer for people to obtain these items.
 

Cannabis Edibles Market Share

Major companies operating in the cannabis edibles industry include:

  • Canopy Growth Corporation
  • Aurora Cannabis
  • Tilray, Inc.
  • Cronos Group
  • Curaleaf Holdings
  • Green Thumb Industries
  • Charlotte's Web Holdings
  • Trulieve Cannabis Corporation
  • Cresco Labs
  • The Valens Company
  • OrganiGram Holdings
  • HEXO Corp
  • TerrAscend Corp
  • Columbia Care Inc.
  • Harvest Health & Recreation Inc.

Canopy Growth Corporation is a cannabis producer and distributor based in Canada. The firm sells a variety of cannabis products, including sweets, flowers, extracts, and medicinal marijuana. Cannabis edibles from Canopy Growth are available in a range of THC and CBD strengths, making them ideal for a wide spectrum of customers. The company's edibles are crafted using high-quality ingredients and manufactured in cutting-edge facilities.
 

  • Cannabis Edibles Industry News

    • In June 2023, PAX, a major global cannabis brand, announced the expansion of its first edible THC product to its cannabis portfolio. For more than a decade, PAX has been a recognized leader in the vaporization industry, and its launch into cannabis-infused gummies gives customers with an expanded selection of options that deliver on the high level of quality and consistency for which the brand is renowned.
       

The cannabis edibles market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Kilo Tons from 2018 to 2032, for the following segments:

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Market, By Type

  • Baked goods
  • Confectionery
  • Beverages
  • Spreads
  • Others

Market, By Cannabinoid Content

  • Tetrahydrocannabinol (THC)-dominant
  • Cannabidiol (CBD)-dominant
  • Balanced THC/CBD

Market, By Distribution Channel

  • Dispensaries
  • Online Retail
  • Specialty stores
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ANZ
    • Southeast Asia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia

 

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of cannabis edibles reached USD 8.01 billion in 2022 and is set to record USD 37.11 billion by the end of 2032, due to the growing consumer preference for convenient, discrete, and smoke-free consumption techniques.
The dispensaries distribution channel segment is anticipated to grow at 17% CAGR from 2023-2032, owing to the presence of diverse selection.
North America market size was valued at USD 3.6 billion in 2022, attributed to the high incidence of infertility, higher awareness of reproductive concerns, and the robust healthcare system.
Some of the major cannabis edibles providers are Canopy Growth Corporation, Aurora Cannabis, Tilray, Inc., Cronos Group, Curaleaf Holdings, Trulieve Cannabis Corporation, Cresco Labs, The Valens Company, and HEXO Corp.

Cannabis Edibles Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 237
  • Countries covered: 21
  • Pages: 180
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