PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389858
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389858
The global cannabis edibles market is on the brink of remarkable expansion, with Fairfield Market Research forecasting an impressive CAGR of 13.9% between 2023 and 2030. The market, which recorded revenue of $9.6 billion in 2022, is projected to surge to a staggering $27.2 billion by the end of 2030.
Key Market Trends
Key Growth Determinants
Legalization Momentum: The global edible cannabis market is expected to grow significantly due to the easing of cannabis-related laws and regulations worldwide. The shift towards edible cannabis is driven by concerns over the negative effects of smoking.
Healthcare Adoption: Cannabis edibles gain popularity for their health benefits in stress relief and chronic pain management. Collaboration between businesses in the cannabis edibles sector and academia is expected to create products catering to the pharmaceutical and healthcare sectors.
E-commerce Sales Surge: Sales of products containing hemp and cannabis have surged, especially since the onset of the pandemic. Increased online and offline channels, e-commerce sector growth, and rapid expansion of online businesses boost demand for cannabis edibles.
Major Growth Barriers
Lack of Awareness: Inadequate awareness and safety information about edible cannabis in developing countries hinder market growth. Stigma, misconceptions, and stringent government regulations also constrain the global industry.
Stigma and Misconceptions: Misinformation and stigma surrounding cannabis impede market growth, even where it is legalized, due to negative perceptions and stereotypes.
Regional Highlights
North America Leads: North America dominates the cannabis edibles market, supported by key players, lifestyle changes, and technological advancements. Legalization for medical and recreational use contributes to market expansion.
Asia Pacific Potential: The Asia Pacific region shows exceptional growth potential, driven by available raw materials and increasing industrialization. Legalization for personal consumption in some emerging countries fuels market growth.
Fairfield's Competitive Landscape Analysis
The global cannabis edibles market is characterized by fragmentation, with numerous regional and international manufacturers. Companies are expanding their distribution networks, partnering with or acquiring other businesses, and focusing on product innovation to gain a competitive edge.
Leaders in Global Cannabis Edibles Space
By Nature
By Type
By Sales Channel
U.S.
Canada
Germany
U.K.
France
Italy
Turkey
Russia
Rest of Europe
China
Japan
South Korea
India
Southeast Asia
Rest of Asia Pacific
Brazil
Mexico
Argentina
Rest of Latin America
GCC
South Africa
Egypt
Nigeria
Rest of Middle East & Africa