Cannabis-infused Food Market Size [2023-2030] | Global Industry Share & Dynamics Report by Fortune Business Insights™
Companies covered in Cannabis-infused Food Market are Bhang Corporation, Kiva Confections, VCC BRANDS, Indus Holdings, Inc., Canopy Growth Corporation, Tilray, Inc., OrganigramHoldings Inc., Crft Manufacturing, Inc., Grön Chocolate, Chill Chocolate, and more players profiled.
Cannabis-infused Food Market
Pune, India, Aug. 21, 2023 (GLOBE NEWSWIRE) — The global cannabis-induced food market size is expected to experience substantial growth owing to the growing demand for global cannabis-induced food edibles across the globe. This information is published by Fortune Business Insights™, in its upcoming report, titled, “Cannabis-infused Food Market Size, Share & Industry Analysis, By Application (Bakery, Confectionery, Snacks, Condiments) and Regional Forecast, 2023-2030.”
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List of the Companies Profiled in the Global Cannabis-infused Food Market:
- Bhang Corporation
- Kiva Confections
- VCC BRANDS
- Indus Holdings, Inc.
- Canopy Growth Corporation
- Tilray, Inc.
- OrganigramHoldings Inc.
- Crft Manufacturing, Inc.
- Grön Chocolate
- Chill Chocolate
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2022 |
| Historical Year | 2019 – 2021 |
| Forecast Year | 2023 – 2030 |
| Segments Covered | By Type, By Material, By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2023-2030 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
The novel coronavirus, COVID-19 has impacted several industries owing to the total lockdown announced by the government agencies across the globe. The unprecedented economic loss has been huge and the businesses are reeling to get back to normalcy. A collective effort between the government and industries will ensure that the global economy gets back in track in the near future.
Cannabis-induced food is a product that consists of cannabinoids and is consumed across the globe. Owing to their several benefits such as relief from fatigue, pain, and anxiety, the food products are gaining popularity. The manufacturers are innovating products to cater to the growing demand for cannabis food products by the population that are consuming them for medical and recreational purposes.
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https://www.fortunebusinessinsights.com/cannabis-infused-food-market-103167
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect the market growth. The report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies. It further mentions the strategies adopted by them, such as to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Adoption of Cannabis-induced Edibles to Aid Growth
Cannabis contains a psychoactive agent tetrahydrocannabinol (THC), along with other active compounds such as terpenes and cannabidiol. These active compounds are widely adopted for their therapeutic and medical benefits. Owing to their benefits, several manufacturers have introduced cannabis-induced food products such as chocolate bars, popcorn, candies, and others. In addition to this, the surging demand for ready-to-eat food products amid COVID-19 is expected to drive the global cannabis-induced food market during the forecast period.
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REGIONAL INSIGHTS
Increasing Consumption of Ready-to-Eat Snacks to Promote Growth
Among all the regions, North America is expected to showcase considerable growth backed by the increasing consumption of ready-to-eat cannabis-induced food products during the forecast period. Additionally, the legalization of cannabis is expected to boost the demand for food products in the region between 2020 and 2027.
The global cannabis-induced food market in Europe is anticipated to experience substantial growth in the forthcoming years. This is attributable to the increasing demand for medicinal cannabis-induced food products in countries such as France and Germany in the region.
COMPETITIVE LANDSCAPE
Product Innovations by Key Players to Brighten Their Market Prospects
The global cannabis-induced food market comprises several key players that are striving to maintain their stronghold by focusing on introducing innovative cannabis-induced food products. The adoption of strategies such as merger and acquisition, collaboration, and partnership by the major companies is expected to contribute to the growth of the market in the forthcoming years.
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Cannabis Beverages Market to Reach USD 19,063.58 Million by 2028 | At a CAGR 54.31%
Cannabis Market to Hit USD 444.34 Billion by 2030 | At 34.03% CAGR
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