According to a new report the global cannabis-infused edibles market is currently valued at over $5 billion, and is anticipated to grow rapidly in the coming years.
Conducted by Research and Markets, the report found that as of the start of 2023, the global marijuana-infused edibles market is worth $5.14 billion. It’s expected to grow at an annual compound growth rate (CAGR) of 12.26% between now and 2028 to reach a value of $9.28 billion.
“The global cannabis-infused food have gained momentum due to the increasing popularity and consumption of cannabis by the mainstream population”, states the report.
According to the report some of the key drivers in the market include:
- Growing Cannabis Legalization and Elevating Popularity of Home-Grown Cannabis
- Rising Millennial Population Demanding Cannabis-Infused Edibles
- Increasing Penetration in Bakery, Confectionery, and Gummies
The most popular form of edibles include:
- Baked Products
- Chocolates & Bars
- Drinks
- Gum & Sprays,
- Sugar Candies.
More information on this report can be found here.
