Global Cannabis-Infused Edible Products Market size to grow by USD 7.01 billion during 2023-2028- Technavio

Technavio has released its latest market research report titled Global Cannabis-Infused Edible Products Market by Type, Distribution Channel, and Geography – Forecast and Analysis 2024-2028, projecting the global cannabis-infused edible products market to grow by USD 7.01 billion during the forecast period, advancing at a CAGR of 20.04%. The report identifies the increasing legalization of cannabis and growing consumer interest in wellness-focused products as primary growth drivers, with North America expected to contribute 90% to the market’s expansion. This comprehensive analysis provides actionable insights for businesses aiming to capitalize on the thriving cannabis-infused edible products market landscape.Here is an Exclusive report talking about Market scenarios with a historical period (2018-2022) and forecast period (2024-2028). Download Sample Report in minutes!

Market Segmentation: A Detailed Overview

The cannabis-infused edible products market is segmented by type, distribution channel, and geography, offering a detailed perspective on its diverse segments and growth potential. This segmentation framework aligns with Technavio’s proven methodology, tailored to reflect the unique dynamics of the cannabis-infused edible products industry:

By Type: The market includes gummies, chocolates and baked goods, and beverages.

• Gummies: This segment dominates, driven by their discreet, portable nature and precise dosing, making them a top choice for both recreational and medicinal users, particularly in North America where cannabis legalization is expanding rapidly.
• Chocolates and Baked Goods: Including cannabis-infused chocolates, cookies, and brownies, this type is gaining traction, fueled by demand for indulgent, familiar formats that appeal to consumers seeking a tasty alternative to smoking, especially in Europe and North America.
• Beverages: Encompassing infused teas, coffees, and sparkling waters, this segment is experiencing rapid growth, catering to consumers looking for refreshing, functional drink options with wellness benefits like relaxation or energy, notably in APAC and North America.

By Distribution Channel: Offline channels—dispensaries, specialty stores, and supermarkets—lead the market, reflecting a preference for in-person purchases where consumers can verify product quality and potency firsthand, consistent with established buying behaviors in regulated markets. Online channels are surging, driven by e-commerce platforms like Leafly Marketplace, Weedmaps, and brand-specific websites, offering convenience and access to a broad range of cannabis-infused edible products through subscription models and home delivery options where legally permitted.

By Geography: North America holds a 90% growth share, propelled by widespread legalization and consumer adoption in the US and Canada, followed by Europe, APAC, South America, and the Middle East and Africa. Europe’s growth is significant, tied to emerging cannabis markets in countries like Germany and the Netherlands, while APAC shows potential with gradual regulatory shifts in markets like Thailand and Australia.

This market segmentation equips stakeholders with insights to target high-growth areas, such as the booming beverages segment or the expanding online distribution channel, optimizing their strategies in the cannabis-infused edible products market.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters - View a FREE Sample Report

Key Companies Driving the Cannabis-Infused Edible Products Market

The Technavio report highlights leading players shaping the competitive landscape of the cannabis-infused edible products market:

• Wana Brands: A North American leader, Wana dominates with its cannabis-infused gummies, offering precise dosing and a variety of flavors that appeal to both recreational and medicinal users across legalized markets.


• Kiva Confections: Known for its premium chocolates and gummies, Kiva excels in chocolates and baked goods, targeting consumers seeking high-quality, artisanal edibles with consistent potency, particularly in the US.


• Incredibles (Green Thumb Industries): A key player in chocolates and gummies, Incredibles provides a range of infused edibles, leveraging its strong presence in North America to cater to wellness-focused and recreational consumers.


• Canopy Growth Corporation: With its Tweed and Quatreau brands, Canopy drives growth in beverages, offering cannabis-infused sparkling waters and teas that appeal to health-conscious consumers in Canada and beyond.


• Bhang Corporation: Specializing in chocolates and gummies, Bhang targets global markets with award-winning infused edibles, emphasizing flavor innovation and quality for a broad consumer base.

 

These companies are innovating with natural ingredients, precise dosing technology, and sustainable packaging to meet the rising demands of the cannabis-infused edible products market.

Growth Drivers Boosting the Cannabis-Infused Edible Products Market

The global cannabis-infused edible products market is flourishing, propelled by several key drivers. “Cannabis edibles are redefining indulgence with a wellness twist,” noted a Technavio analyst. Notable factors include:

• Rising Legalization: Expanding legalization in North America and parts of Europe drives demand for gummies, chocolates, and beverages, as consumers gain access to regulated, safe edible options in growing markets.


• Consumer Wellness Trends: Increasing interest in cannabis for relaxation, pain relief, and sleep support boosts all segments, with health-focused consumers favoring edibles over smoking for their discreet, controlled delivery, particularly in North America.


• Convenience and Variety: The appeal of edibles as portable, easy-to-consume alternatives fuels market growth, with beverages and gummies leading in convenience and chocolates offering indulgent variety for diverse palates globally.

 

The surge in online retail enhances accessibility, with cannabis-infused edible brands leveraging e-commerce platforms and delivery services to reach a growing audience of consumers seeking convenient wellness solutions where regulations allow.

Opportunities and Innovations

The cannabis-infused edible products market offers significant opportunities for growth and innovation:

• Health-Focused Edibles: Gummies and beverages infused with CBD or low-THC formulations cater to wellness trends, driving growth in North America and APAC where health-conscious consumption is rising.


• Gourmet and Specialty Offerings: Premium chocolates and baked goods with unique flavors or functional additives—like adaptogens—target upscale markets, appealing to foodies seeking elevated edible experiences.


• Sustainable Packaging: Eco-friendly, recyclable packaging resonates with environmentally conscious consumers, opening new avenues for brand differentiation in the cannabis-infused edible products market.

For instance, companies are launching micro-dosed gummies for precise control and partnering with beverage brands to offer infused sparkling waters, creating fresh revenue streams and reinforcing market expansion.

Challenges Facing the Cannabis-Infused Edible Products Market

Despite its robust outlook, the cannabis-infused edible products market faces challenges. Regulatory inconsistencies across regions—such as varying THC limits and labeling requirements—can complicate production and distribution, particularly for gummies and beverages. Consumer education on dosing and effects remains critical, as overconsumption risks challenge trust, especially in newer markets. Additionally, competition from traditional snacks and cannabis inhalation methods pressures market share, requiring strong branding and innovation. The report advises companies to streamline compliance, enhance consumer education, and emphasize edibles’ unique benefits to sustain momentum in the cannabis-infused edible products market.

Why This Report Matters

For stakeholders in the cannabis-infused edible products market, this Technavio report is a strategic asset. From in-depth market segmentation to profiles of key companies, it provides a roadmap to seize a USD 7.01 billion growth opportunity. Whether you’re a producer exploring health-focused edible trends or a retailer enhancing online platforms, these insights are critical for staying competitive in this dynamic industry.

About Technavio

Technavio is a leading global technology research and advisory firm, delivering actionable market insights to drive business success. With over 17,000 reports spanning 800 technologies across 50 countries, Technavio serves enterprises of all sizes, including more than 100 Fortune 500 companies. Its expert analysts blend primary and secondary research to forecast market trends with precision.