Demand for CBD Edibles Spurs due to Legalization and Acceptance of Cannabis & Hemp Consumption; Market to Reach US$ 34.15 Bn By 2031, States TMR Report

- The CBD edibles market is projected to expand at a CAGR of 13.7% during the forecast period 2021-203. Antioxidant and anti-aging properties of CBD and hemp products drive sales prospects in the market.

- Market players are expected to gather prominent sales opportunities owing to surge in awareness regarding health benefits of consuming the product

ALBANY, N.Y., Nov. 12, 2021 /PRNewswire/ -- Due to many health benefits of hemp and cannabis, several countries around the world have given legal permission for their consumption. This factor is working as a key opportunity for food practitioners as well as players operating in the CBD edibles market.

Major companies involved in the production of CBD edibles market are focused on boosting their production capabilities in high-quality products. Players observed a surge in the demand for CBD edibles during and post COVID-19 pandemic.

With rise in awareness on anti-aging and antioxidant properties of hemp and CBD products, there is significant growth in demand for these products. Taking this factor into account, companies operating in the CBD edibles market are offering products in different tastes and forms including cannabis-infused chocolate bars, CBD gummies, and candies. In addition, there is a surge in the demand for sugar-free CBD edibles, Keto-friendly CBDs, and fruit flavored CBDs.

Due to less concentration (0.3%) of THC (Tetrahydrocannabinol), the CDBs can help in reducing psychoactive effects. Rise in the use of CBD edibles in healthcare and pharmaceutical applications is fueling the growth prospects in the market.

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CBD Edibles Market: Key Findings

Growing Inclination toward Plant-based Diet and Expansion of eCommerce Industry to Boost Sales in Market

In recent years, there is surge in awareness regarding animal welfare and increase in concerns about the climate change. Health conscious populace from across the globe is inclining toward use of plant-based food products instead of animal and meat products. There is notable growth in the demand for plant-based foods as they serve as a good option in comparison to their counterparts in decreasing the possibilities of diabetes, cancer, and other major diseases. As CBD edibles are produced from only plant ingredients and offer varied health benefits, there is significant growth in the demand for of these edibles from all across the globe.

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CBD Edibles Emerging as A Potential Alternative for Cannabis Smokers

Several researches have proved that CBD edibles hold a long-lasting effect on the body and brain of an individual in comparison to cannabis smoking or vapor pen inhaling. While the product takes time of around 30 minutes to 2 hours for showing its effects, the results after their consumption are said to be long lasting than cannabis inhalation, probably over two to four hours more than inhaled cannabis. Owing to this factor, there is surge in consumption of CBD edibles among cannabis smokers in order to quit their smoking habits and adopt a more authorized method of CBD consumption.

In recent years, there is surge in the awareness regarding adverse health effects of smoking. This factor is projected to create prominent sales opportunities for the producers of CBD edibles.

CBD Edibles Market: Growth Boosters

• Surge in use of CBD edibles in food and beverages industry is projected to fuel the market expansion
• Growth in consumption of CBD products as dietary supplements is boosting the sales opportunities in the global market for CBD edibles
• CBD Edibles Market: Competition Landscape
• Major market players are focused on advancing their distribution channels in order to reach to maximum number of customers
• To expand their product portfolio, several companies in the CBD edibles market are executing strategies like partnerships and acquisitions

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CBD Edibles Market: Key Players

Some of the key players in the CBD edibles market are:

• CV Sciences.
• Pure Kana
• Elixinol Global Ltd
• TIsodiol International
• Canopy Growth Corp
• Charlottes Web Holdings Inc
• Aurora Cannabis Inc.
• Medical Marijuana Inc
• Creso Pharma Ltd.
• MGC Pharmaceuticals Ltd.
• Curaleaf Holdings Inc.
• Cronos Group Inc
• Tilray Inc.
• Green Thumbs Industries Inc.
• Ecofibre Ltd.
• TGOD Holdings Ltd.
• Zoetic International PLC
• Colorado Botanicals Inc.

CBD Edibles Market Segmentation

Nature

• Organic
• Conventional

Type

• Chocolates & Candies
• Gummies
• Snacks
• Supplements
• Beverages
• Others

Sales Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Online Retail

Regions Covered

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle east & Africa

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Food & Beverages Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Food & Beverages Market:            

Legalized Cannabis Market - https://www.transparencymarketresearch.com/legal-cannabis-medical-market.html

CBD Beverages Market - https://www.transparencymarketresearch.com/cbd-beverages-market.html

CBD Gummies Market - https://www.transparencymarketresearch.com/cbd-gummies-market.html

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