The world of medical science sees continuous growth each passing day. Inventions of new gadgets and discovery of new drugs has been changing the dynamics of healthcare sector. Ever since, the medical research companies were successful in proving multiple benefits of cannabis, it has been extensively by not just pharma companies but most of the industries including the food and beverage sector. The cannabis is loaded with multiple antioxidants, and has anti-inflammatory properties. This is one of the major reasons why the demand for cannabis and cannabis infused products is growing continuously. The global cannabis infused products market is rapidly growing as several countries are legalising consumption and use cannabis. The effectiveness of cannabis in the treatment of diseases like cancer propel the growth of the global cannabis infused products market. Similarly it is also being used in pet food along with manufacturing of chocolates, gummies, candies, bakery products and many other edible products.
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The recent coronavirus pandemic proved utterly helpful for the global cannabis infused products market as the demand for the cannabis went upwards. The cannabis was extensively used in production of drugs to battle the dreadful SARS CoV-2 as it was extremely effective in strengthening respiratory organs. As majority of the countries were finding an effective solution for the life-threatening virus, cannabis was seen as a great alternative. This factor is forecasted to help the global cannabis infused products market witness massive growth over the period of new few years.
Various types of cannabis infused products are being brought in the market each passing day. On the other hand, the rising awareness about the efficacy of this miraculous drug in several diseases drives rampant growth of this market.
Abuse of any drug is a big issue and leads to various consequences. Worries related to overdose or excessive consumption of the cannabis plays a huge restraining factor in the growth of the global cannabis infused products market.
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In terms of revenue, the global cannabis infused products market was valued at US$ 51.8 Bn in 2021, growing at an estimated CAGR of 36.5% over the forecast period (2022 – 2030).
By Product Type, Edible Segment accounts for highest market share of The Global Cannabis Infused Products Market in 2022
This segment generates maximum amount of money for the global cannabis infused products market as people prefer consumption this magical drug through their favourite food products like chocolates, gummies bakery products, snacks and several other things. Also the beverages infused with cannabis is becoming hugely popular, especially in youngsters.
Asia Pacific Region to witness fastest growth for this market Over the Forecast Period (2022 – 2030) in the Global Cannabis Infused Products Market
The country of Asia Pacific will account for maximum revenue for this market over the forecast period. Several leading business tycoons in India and China are showcasing keen interest in commercialization of cannabis. They are extensively granting funds for research purposed to discover more purposes and benefits of cannabis. The rise of healthcare industry will contribute to this market’s growth.
Some of the major players operating in the global cannabis infused products market are listed below:
- CANNABIS SATIVA, INC
- Canopy Growth Corporation
- Concentrate Supply Co
- Cresco Labs, Inc.
- CV Sciences, Inc.
- GBSCIENCES, Inc.
- GDL, Inc.
- HEXO CORP.
- Kona Gold, LLC.
- Organigram Holdings Inc.
- Tauriga Sciences, Inc.
- Teva Pharmaceuticals USA, Inc.
- The Cronos Group
- VIVO Cannabis Inc.
- Whistler Medical Marijuana Corp
- Other Market Participants
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Global Cannabis Infused Products Market Segmentation
Global Cannabis Infused Products Market has been segmented by product type, source, application, distribution channel and region which are further classified into respective countries:
Global Cannabis Infused Products Market Type Outlook (Revenue, USD Million, 2015 - 2030)
Global Cannabis Infused Products Market Source Outlook (Revenue, USD Million, 2015 - 2030)
Global Cannabis Infused Products Market Application Outlook (Revenue, USD Million, 2015 - 2030)
- Food & Beverage
- Bakery Products
- Alcoholic Beverages
- Non-Alcoholic Beverages
- Beauty & Personal Care
- Pain Management
- Neurological Health Management
- Mental Health Management
Global Cannabis Infused Products Market Distribution Channel Outlook (Revenue, USD Million, 2015 - 2030)
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Global Cannabis Infused Products Market Regional Outlook (Revenue, USD Million, 2015 - 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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