The Global Cannabis Food and Beverage Market Evaluated to Advance at $839.94 Million by 2026

July 16 17:15 2021
The Global Cannabis Food and Beverage Market Evaluated to Advance at $839.94 Million by 2026

The Global Cannabis Food and Beverage Market
As per Triton’s research report, in 2020, the global cannabis food and beverage market acquired $506.12 million, and is probable to progress at a CAGR of 15.15% by 2026.

A recent study by Triton Market Research titled ‘Global Cannabis Food and Beverage Market’ entails the Global Analysis and Forecasts by Distribution Channel (Mass Merchandisers, Specialty Store, Online Stores, Others), Product Type (Bakery Products, Chocolate, Beverages, Cereal, Ice Cream, Candy, Others), and by Geography (North America, Asia-Pacific, Latin America, Middle East and Africa, Europe).     

The cannabis plant is popularly used for medical purposes or as a recreational drug. Moreover, it is widely used in various food products, such as bakery products, chocolate, cereal, candy, and beverages, among others. 

 

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Triton’s research report suggests that the global cannabis food and beverage market is predicted to exhibit growth at a CAGR of 15.15% through the estimated phase 2021-2026. It is further expected to attain revenue worth $839.94 million by 2028.

In most countries, the use of cannabis for recreational purposes was prohibited. However, in recent years, cannabis for medical and recreational purposes has gained momentum in other nations. This is mainly because of the growing awareness related to the benefits offered by cannabis. Hence, the legalization of cannabis in various countries has supported the growth of the cannabis food and beverage market. 

However, adverse health effects posed by cannabis and a decrease in the demand-supply ratio hampers the growth of the cannabis food and beverage market. 

The cannabis food and beverage market is segmented into distribution channel and product type. Based on the distribution channel, it is sectioned into mass merchandisers, specialty stores, online stores, and others. Similarly, the product type segment is divided into bakery products, chocolate, beverages, cereal, ice cream, candy, and others.

North America holds the largest market for the cannabis food and beverage market globally. In the US, brownies are a widely known food product that is infused with cannabis. Other than this, consumers can opt for marijuana-infused cooking oil and butter to directly apply to other food products. In recent years, vaping and edible use of cannabis has gained traction among young adults. Hence, the growing use of cannabis in various food products is driving the growth of the cannabis food and beverage market across North America. 

Dutch Windmill Spirits BV, Energy Drink, The Supreme Cannabis Company Inc, Coalition Brewing, Koios Beverage Corp, Lagunitas Brewing Company, Alkaline88 LLC, Dixie Brands Inc, Phivida Holdings Inc, New Age Beverages Corporation, and General Cannabis Corp are renowned companies in the cannabis food and beverage market. 

 

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Question & Answer: Cannabis Food and Beverage Market

Question 1: What major factor have supported the growth of the cannabis food and beverage market

Answer: In most countries, the use of cannabis for recreational purposes was prohibited. However, in recent years, cannabis for medical and recreational purposes has gained momentum in other nations. This is mainly because of the growing awareness related to the benefits offered by cannabis. Hence, the legalization of cannabis in various countries has supported the growth of the cannabis food and beverage market. 

Question 2: What factors hamper the growth of the cannabis food and beverage market?

Answer: Adverse health effects posed by cannabis and a decrease in the demand-supply ratio hampers the growth of the cannabis food and beverage market. 

Question 3: Which region holds the largest market for cannabis food and beverage market globally?

Answer:  North America holds the largest market for the cannabis food and beverage market globally. In the US, brownies are a widely known food product that is infused with cannabis. Other than this, consumers can opt for marijuana-infused cooking oil and butter to directly apply to other food products. In recent years, vaping and edible use of cannabis has gained traction among young adults. Hence, the growing use of cannabis in various food products is driving the growth of the cannabis food and beverage market across North America. 

Question 4: Which are the renowned companies in the cannabis food and beverage market?

Answer: Dutch Windmill Spirits BV, Energy Drink, The Supreme Cannabis Company Inc, Coalition Brewing, Koios Beverage Corp, Lagunitas Brewing Company, Alkaline88 LLC, Dixie Brands Inc, Phivida Holdings Inc, New Age Beverages Corporation, and General Cannabis Corp are renowned companies in the cannabis food and beverage market.

Related Report:

Global CBD Skin Care Market 

The global CBD skin care market is likely to grow at a CAGR of 21.44% during the period of 2019-2028, while gaining $3168.44 million in revenue by 2028.

Cannabis contains various types of compounds known as cannabinoids. The CBD-based products have proven beneficial for the skin, as it contains skin soothing, antioxidant, and anti-inflammatory properties. 

The growing use of cannabis for medical and recreational purposes, coupled with the demand for organic personal care products, has enhanced the demand for CBD skin care products. Additionally, the surge in health awareness and personalized skincare products generate multiple opportunities for the CBD skin care market. 

However, the risk of contracting bacterial contamination is restricting the overall development of the CBD skincare market. 

 

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