As per a latest published report by Research Dive, the global edible cannabis market is anticipated to rise at a CAGR of 25.1% and is estimated to generate a revenue of $17,720.0 million over the forecast period from 2019 to 2026.
The global market is segmented based on product type, infusion materials, and region.
The report provides in-depth insights on drivers, restraints, challenges, opportunities, and major players of the market. According to our analysts, the relaxation of various rules and rapid growth in legalization regarding usage of cannabis is the major factor projected to boost the growth of the global edible cannabis market by the end of 2026.
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Moreover, the rising agricultural crisis related to the testing of marijuana is likely to create enormous growth opportunities in the global industry over the period of forecast. However, lack of safety information or inadequate information regarding edible cannabis especially in developing nations are expected to be major threats for the growth of the global market in the near future.
Solid Food Segment to Grow at Highest Rate
By product type, the overall edible cannabis market is categorized into drinks, solid foods, capsules, and others. Among these, the solid foods segment is projected to grow rapidly over the forecast period, owing to the development of solid food edible cannabis and its growing usage to treat patients with anxiety, cancer-related symptoms, and chronic pain.
Oil Segment to Witness Significant Growth by 2026
By infusion materials, the global edible cannabis market is trifurcated into oil, butter, and others. Among these, the oil cannabis segment is predicted to observe a considerable growth during the forecast period mainly because this oil is a result of cannabis plants extraction and a mix of hemp seed oil or coconut oil, which helps to ease the symptoms of various ailments such as chronic pain and anxiety.
North America Region to Hold the Largest Share in the Market
Geographically, the global industry is divided into North America, LAMEA, Asia Pacific, and Europe. The North America region is predicted to account for the majority of share in the global edible cannabis market in the forecast period. This growth is mainly due to the favorable government regulations and increasing legalization of marijuana in the region. Moreover, the extensive usage of cannabis for medical purpose is expected to propel the regional market growth by 2026.
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Key Players of the Industry
The prominent players operating in the global edible cannabis market include Auntie Dolores, Zoots, Fairwinds Manufacturing, Baked Bros, Mirth Provisions, Cheeba Chews, Kiva Confections, Mentor Cannabis, Inc., Organa Brands, Bhang Corporation, and Dixie Elixirs. These players are highly investing on R&D and focusing on product developments, which is expected to drive the global market growth in the coming future. Further, the report outlines ad presents several aspects of these key players such as recent strategic moves & developments, product portfolio, SWOT analysis, and financial performance.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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