Research Dive has published a new report titled, ‘Edible Cannabis Market, by Product Type (Solid Foods, Capsules, Drinks, Others), by Infusion Materials (Butter, Oil, Other), Regional Analysis (Europe, North America, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026’
The edible cannabis market is estimated to garner tremendous revenues in the predicted forecast period 2019-2026.
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The North American region is anticipated to dominate the edible cannabis market in the forecast period as this has the largest market share. Moreover, legalization of marijuana and leniency in the government regulations will boost the market. Apart from this, legalization of using cannabis in medical sector will generate a healthy market growth in this area.
Key Segment Findings of the Market
The report has divided the market into segments based on product type, infusion materials, and regional analysis.
- The solid food product type is estimated to harness tremendous growth. Production of cannabis infused energy drinks will enhance the market. Moreover, cannabis is used to treat patients suffering from anxiety, chronic pain and cancer related symptoms. This lasts for longer durations and doesn’t affect lungs unlike smoking.
- The oil cannabis sub-segment is predicted to be the most lucrative as this reduces tumor effects and cancer symptoms. Moreover, cannabis oil along with hemp seed oil or coconut oil aids in ailments such as chronic pain and anxiety.
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The edible cannabis market is projected to show a growth due to relaxation of government rules and regulations. The legalization of cannabis by the government has boosted the interests of food manufacturers and consumers are favoring edible cannabis over smoking. All this factors are responsible for the market growth.
However, information gap about edible cannabis in the developing countries and lack of awareness about safety will hinder the market growth. Furthermore, rise in personal use of marijuana cultivation and increase in recreational purposes will hamper the market. All these aspects are considered as major restraints of the market.
Key Players and Business Strategies
The major players in the edible cannabis market are Dixie Elixirs, Zoots, Fairwinds Manufacturing, Auntie Dolores, Mirth Provisions, Cheeba Chews, Baked Bros, Mentor Cannabis, Inc., Organa Brands, Kiva Confections, and Bhang Corporation.
Beyond this, the report states aspects of all the prominent players functioning in the market along with the financial performances, developments, recent strategic moves, product portfolio, and SWOT analysis.
Strategic collaborations, tie-ups, and investments in R&D are some of plans used by the market players. For instance, the Plus Products Inc. has launched the best-selling gummies1 into the Nevada market. The goods are manufactured via the company’s partnership with TapRoot Holdings Inc. which is a vertically integrated cannabis company.
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