Cannabis Infused Edible Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cannabis Infused Edible Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Cannabis-Infused Edible Products market is anticipated to grow at a CAGR of 5.43% over the forecast period.

Key Highlights

• The aversion to smoking is one of the main factors that has led to the significant growth of cannabis-infused edibles over the past years. The fact that edibles are inconspicuous and allow consumers to devour unknowingly, has shifted consumer preferences from smoking towards edibles. This growing popularity has led edibles to penetrate most of the US retails, where the state must have some specific cannabis or marijuana regulated laws.
• The cannabis edibles segment in Europe is considered to be the fastest-growing category in the cannabis industry with the likes of sub-categories such as gummies and infused drinks have witnessed a significant growth trajectory in recent years. Moreover, most of the cannabis edible addresses the demand of modern consumers, where the products need to be discreet, easy to use, safe and of accurate dosages.

Key Market TrendsMore patents and collaborations with micro-dosing

The micro-dosing of cannabis in terms of edibles and beverages is likely to set some significant new heights over the coming years. With the big names in the portfolio such as Constellation brands, MPX, Gfarmalabs, and Sprig have started their work on cannabis-infused drinks, following them, HEMP20 and THC Pharma are also moving slowly into the domain.

New launches are expected from the cannabis industry over the coming years where at present novel brands such as Province brands, a Canadian Research & Development company, are set to release the world’s first alcohol- free beer brewed from cannabis. Firms such as HEMP20 have patented a technology on DehydraTECH, that enables the increase in the internal absorption rate.

The collaboration across the industry is massive where brands such as Constellation and Canopy growth are developing the market for cannabis-based beverages. On the other hand, AB InBev and Tilray have ventured into a USD 100 million venture to research cannabis-infused non-alcoholic drinks exceptionally for the Canadian Market.

North America leads the cannabis infused edibles market

Adding on to the continued sales of cannabis-related products in the U.S., the retail sales of cannabis-infused edibles have witnessed significant growth in 2019 as compared to the previous year's performance. The edible segment comprises of 9% and 13% of the U.S. adult-use cannabis sales, while the beverages segment contributes up to an additional sales of 1%-2%.

Furthermore, packaging has also played a major role in determining sales, where on average, the packages of edibles were of around 100 mg per serving with an add on price. On the other hand, Canada is also focusing on expanding its retail sales of edibles with single servings, that constitutes around 10mg of edibles. However, in Canada, the supply of edibles will be limited, to begin with, but will increase in the future as regulators sense the positive aspect of its usage and safety.

Competitive Landscape

The global cannabis-infused edibles market is a fragmented market with the presence of various regional and global players. The major players present in the market are Botanic Labs, Dixie Brands, Bhang Chocolate Company Hugs Wellness, Sprig, among others.Product innovation is found to be the major tool used by the players to expand their offering, and thus, gain a competitive advantage over other players. Private label brands hold a prominent share in the market with diversified product offerings.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Charlotte's Web
Cannabinoid Creations
Dixie Elixirs
Sprig
Botanic Labs

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