Global Cannabis Food and Beverage Market is valued at approximately USD 1.22 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 26.60% over the forecast period 2024-2032. Cannabis food and beverages refer to edible products and beverages infused with cannabinoids extracted from cannabis plants. These products can include a wide range of items such as snacks, candies, baked goods, chocolates, teas, coffees, juices, and alcoholic beverages, among others. The cannabinoids, particularly THC (tetrahydrocannabinol) and CBD (cannabidiol) are infused into these food and beverage items to provide the psychoactive or therapeutic effects associated with cannabis consumption. The market is gaining attention due to the increasing legalization and acceptance of cannabis, innovative product development, and growing consumer interest in alternative consumption methods. A significant trend in the Global Cannabis Food and Beverage Market is the increasing regulation based on laws governing the production, sale, and consumption of cannabis-infused products. This trend is accompanied by rising demand for health and wellness products and the expansion of the recreational cannabis sector. These factors fuel the market growth and attract new players, reflecting the broader acceptance and integration of cannabis products in mainstream consumer markets.

The Global Cannabis Food and Beverage Market is experiencing growth due to increasing legalisation, heightened consumer interest in alternative consumption methods, and a rising demand for health and wellness products. These factors collectively contribute to the market's expansion and the entry of new players. A significant factor is the increasing legalization of cannabis in various regions, which has opened new opportunities for product innovation and market expansion. This legalisation development has allowed for a more diverse range of cannabis-infused products, catering to both recreational and medicinal users. Consumer interest in alternative consumption methods, such as edibles and beverages, has surged as people seek more discreet and potentially healthier ways to enjoy cannabis. The health and wellness development has also boosted the market, with many consumers turning to CBD-infused products for their potential therapeutic benefits without the psychoactive effects of THC (tetrahydrocannabinol). However, the market encounters several restraints, primarily due to stringent regulations that differ significantly across various regions, making production and distribution more complex. These regulatory discrepancies create hurdles for manufacturers and distributors to maintain consistency and compliance. There are ongoing challenges with ensuring quality control and precise dosing accuracy, which are critical for consumer safety and product reliability. Public perception issues further complicate the market landscape, as misconceptions and scepticism about cannabis products can hinder wider acceptance and limit market growth.

The key regions considered for the global Cannabis Food and Beverage market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is dominating the Global Cannabis Food and Beverage Market for various reasons. The region has seen early and widespread cannabis legalisation, creating a conducive environment for market growth. This legalization has allowed for the development and commercialisation of a wide array of cannabis-infused products. North America benefits from well-established supply chains and significant investments in research and development, leading to innovative and high-quality products. The consumer base in this region is more open to alternative methods of cannabis consumption, such as edibles and beverages, which has driven demand. Moreover, the presence of major market players and a supportive regulatory framework have further strengthened the market. Advanced marketing and distribution networks in North America ensure that these products are widely available and accessible, cementing the region's dominant position in the Global Cannabis Food and Beverage Market. The market in Asia Pacific, on the other hand, is expected to develop at the fastest rate over the forecast period.

Major market players included in this report are:
Dixie Brands Inc
Lagunitas Brewing Company
Trees Corporation
New Age Beverages Corporation
KOIOS Beverage Corp.
Canopy Growth Corporation
Aurora Cannabis Inc.
Tilray Brands, Inc.
Cronos Group Inc.
HEXO Corp.
The detailed segments and sub-segments of the market are explained below:
By Product Type
Bakery products
Chocolate
Cereal bars
Candy
Beverages
Ice cream
Others
By Distribution Channel
Mass Merchandisers
Specialty Stores
Online Stores
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.