DUBLIN, Ireland – Facts and Factors has published a new research report titled “Cannabis in Food and Beverage Market by Product Type (Bakery Products, Candy, Chocolate, Beverages, Cereal Bars, Ice Cream, and Others), By Source Type (Hemp Derived, Marijuana Derived, and Synthetic), By Grade Type (Food Grade and Pharmaceutical Grade), By End User (Households, Cafes, Restaurants, Hotels, and Others), and By Distribution Channel (Specialty Store, Mass Merchandisers, Online Stores, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” in its research database.
“According to the latest research study, the demand of global Cannabis in Food and Beverage Market size & share was valued at approximately USD 684 million in 2020. The market is expected to grow above a CAGR of 26.6% and is anticipated to reach over USD 2,818 million by 2026.”
The report analyses the Cannabis in Food and Beverage market’s drivers and restraints, as well as the impact they have on demand throughout the projection period. In addition, the report examines global opportunities in the global Cannabis in Food and Beverage market.
What is Cannabis in Food and Beverage? How big is the Cannabis in Food and Beverage Industry?
Flowering plants belong to the family Cannabaceae, and cannabis is a part of that family. The number of different species that can be found within a single plant has been called into question. Cannabis ruderalis, Cannabis sativa, and Cannabis indica are the three most prevalent species of cannabis. Cannabis indica is the third most frequent species. Since ancient times, people have consumed hemp juice and vegetables made from hemp seeds, as well as used hemp oil, hemp fibre, and hemp leaves for medicinal and recreational purposes. Cannabis has been put to use in the preparation of a wide range of foods and drinks for a number of years. Cannabinoids, such as tetrahydrocannabinol (THC) or cannabidiol (CBD), are the psychoactive components of cannabis. A cannabis edible, also known as a cannabis-infused meal, is a form of food that contains cannabinoids (CBD).
The psychoactive compound tetrahydrocannabinol (THC) is present in the majority of edibles made from cannabis. THC is responsible for a wide variety of physiological effects, including sedation, increased hunger, euphoria, anxiety, and tiredness. Consuming edibles that have been infused with THC or CBD can have either a therapeutic or recreational function. Hemp foods are meals and drinks that are created with hemp that does not provide a psychoactive effect. Cannabis-infused baked items are a common form of cannabis cuisine. [Cannabis] [Medicinal marijuana] Hash cookies, space cakes, and marijuana brownies are some of the most popular kinds of baked foods now available.
Key Insights from Primary Research
- As per the analysis, the Cannabis in Food and Beverage market is likely to grow above a CAGR of around 26.6% between 2021 and 2026.
- The Cannabis in Food and Beverage market size was worth around US$ 684 million in 2020 and is estimated to hit approximately US$ 2,818 million by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The rising demand for medical cannabis is driving the growth of cannabis in the food and beverage industry by types
- Based on application segmentation, CBD-infused drinks across a variety of legal marijuana shops are boosting the global industry.
- On the basis of region, North America is considered the most important regional cannabis in food and beverage market
The report contains qualitative and quantitative research on the global cannabis in food and beverage market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offers, and standards.
Some of the main players in the global Cannabis in Food and Beverage market include:
- Natural Extractions
- Beverages Trade Network
- Canopy Growth
- VCC Brand, Dixie Brands Inc.
- Hexo Group
- General Cannabis Corporation
- Phivida Holdings Inc
- Natural Extractions
- The Supreme Cannabis Company
- Coalition Brewing
- Koios Beverage Corporation
- Alkaline88 LLC
- New Age Beverages Corporation
- The Alkaline Water Company
The rising demand for medical cannabis is driving the growth of cannabis in the food and beverage industry, where it is marketed as a wellness food or beverage and consumed. Furthermore, the social acceptance of cannabis in many countries is a major driver for its inclusion in food and beverages. This acceptability has paved the way for the legalization of recreational marijuana, boosting demand for cannabis-infused sweets and beverages. Furthermore, the cannabis meals and beverages have the right quantity of marijuana and are made with healthy components.
The market for cannabis in food and beverages is largely driven by the expanding legalization of recreational cannabis in various countries, such as the United States, Canada, and Mexico. Furthermore, because of the increasing incidence of many respiratory disorders, there is a growing trend away from smoking cannabis and toward healthier edible options, which is fueling the market growth. Furthermore, the widespread availability of CBD-infused drinks such as cannabis cola, fruit punch, coffee, tea, and other CBD-infused drinks across a variety of legal marijuana shops is boosting the global industry.
Cannabis in Food and Beverage Market: Segmentation Analysis
The global Cannabis in Food and Beverage market is segregated based on product type, source type, grade type, end-user, distribution channel, and region.
In 2018, the specialty shop category was the main supply chain point with the greatest Cannabis in Food and Beverage market share, according to the distribution channel. This is due to an increase in cannabis product uptake from specialty shop chains in both established and emerging economies. Furthermore, online stores provide a one-stop-shop where customers can get all forms of Cannabis in Food and Beverages, making it a popular shopping choice for customers.
North America is considered the most important regional cannabis in food and beverage market. This is due to the relaxation of the prohibition on the use of cannabis in the manufacture of food and drinks in the United States. In the United States, over 33 states have allowed the use of cannabis infusions in food and drinks. This element is predicted to promote the cannabis food and beverage market’s growth in the future in North America. The availability of consumable protein bars infused with cannabis for athletes is also contributing to the global expansion of cannabis food items.
Key questions answered in this report:
- What is the market size and growth rate forecast for Cannabis in Food and Beverage industry?
- What are the main driving factors propelling the Cannabis in Food and Beverage Market forward?
- What are the leading companies in the Cannabis in Food and Beverage Industry?
- What segments does the Cannabis in Food and Beverage Market cover?
- How can I receive a free copy of the Cannabis in Food and Beverage Market sample report and company profiles?
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