Australia & New Zealand Cbd Food & Beverage Market Forecast 2024-2032

Australia & New Zealand Cbd Food & Beverage Market Forecast 2024-2032

The Australia & New Zealand CBD food & beverage market is estimated to grow with a CAGR of 16.22% during the forecasting period. The base year considered for the studied market is 2023, and the forecasted years are from 2024 to 2032.

MARKET INSIGHTS

The production of cannabis edibles in Australia involves the incorporation of THC and CBD ingredients. Despite the increasing demand, these edibles, particularly those formulated with medical-grade CBD and THC oil, remain relatively scarce. Consequently, individuals are turning to homemade alternatives to meet their needs. In this regard, marijuana edibles, including gummies and cannabis-infused brownies, have emerged as a preferred method for consuming cannabis in Australia.

Accordingly, various companies operating in the market are addressing this demand by providing high-quality edibles that align with consumer preferences for taste and convenience. They also prioritize adhering to rigorous standards of safety and quality.

Conversely, the New Zealand CBD (cannabidiol) food & beverage market is experiencing significant growth, driven by increasing consumer interest in health and wellness products. The market includes a variety of offerings, such as CBD-infused drinks, snacks, and dietary supplements, reflecting a broader global trend towards natural and plant-based health solutions. Regulatory changes have played a crucial role in this expansion, with the New Zealand government implementing guidelines that ensure product safety and quality.

Local companies are also innovating by incorporating CBD into traditional flavors and foods, while international brands are entering the market, attracted by the country's robust regulatory framework and health-conscious consumer base. This burgeoning sector not only boosts the economy but also positions New Zealand as a potential leader in the global CBD market.

SEGMENTATION ANALYSIS

The Australia & New Zealand CBD food & beverage market is segmented into product type and distribution channel. The product type category is further classified into CBD food and CBD beverage. Under CBD foods, the bakery products segment is set to grow at a significant CAGR during the forecast period. Baked goods include a wide array of products, such as bars, bagels, buns, rolls, biscuits, loaf breads, pizzas, cookies, and various desserts such as cakes, cheesecakes, pies, muffins, snack cakes, sweet goods, etc.

Bakery products have maintained high demand for centuries, with many countries incorporating them into their regular diets. A notable innovation in this sector is the integration of cannabis into baked goods like breads, cakes, rolls, brownies, and buns. Consequently, the launch of more cannabis-infused bakery products is expected to significantly drive growth in the cannabis food & beverage market during the forecast period.

Furthermore, one of the prominent trends in the chocolate industry is the emergence of cannabis-infused chocolates. The incorporation of CBD introduces a unique flavor and taste, which has significantly increased the demand for chocolates in recent years. With an already high demand for cocoa, the innovation of combining cannabis with cocoa is anticipated to attract even more consumers during the forecast period.

COMPETITIVE INSIGHTS

Key players operating in the Australia & New Zealand CBD food & beverage market include The Cannabis Company, Hemp Gallery Australia, Tilray Brands Inc, etc.

Hemp Gallery Australia has introduced 369 branded hemp foods, cultivated and processed entirely within the nation. Committed to quality and sustainability, the brand offers a diverse range of hemp food products that are rich in nutrients and provide unique flavors. Their collection includes hemp seeds, oil, protein powders, and snacks designed to enhance daily diets with delicious and healthy options.

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