medical cannabis cbd thc gummy gummies edible edibles

Cannabis Edibles Market Projected To Reach $27.2 Billion By 2030

The global cannabis edibles market is projected to reach $27.2 billion by 2030 according to a market analysis by Fairfield Market Research. For comparison purposes, the same researchers estimated that the global cannabis edibles market was worth $9.6 billion in 2022.

“This robust growth will be driven by a multitude of factors, including shifting consumer preferences away from smoking cannabis, and rising awareness of the health benefits associated with cannabis edibles.” Fairfield Market Research stated in a press release.

“Stringent government regulations are substantially contributing toward the expansion of the industry landscape. The global cannabis edibles market is projected to expand at a remarkable CAGR of 13.9% during 2023 – 2030.” the researchers also stated. Additionally, Fairfield Market Research determined the following:

  • Cannabis gummies emerged as the market leader in 2022, offering diverse options catering to both recreational and medicinal users, coupled with discreet and convenient consumption.
  • The online retail category dominated sales in 2022, riding on the ease of use and quick market assimilation of cannabis edibles on e-commerce platforms.
  • North America will command the highest market share through 2030, driven by increasing demand for cannabis-infused foods and beverages, especially in the US.
  • Asia Pacific’s market for cannabis edibles is poised for exceptional growth, fueled by increasing consumer acceptance, and understanding of cannabis-related products.
  • The rising concerns over respiratory diseases, and the diminishing appeal of smoking cannabis are steering consumers toward edible alternatives.
  • Increased public awareness regarding potential health benefits of cannabis edibles like alleviating nausea, reducing pain, and enhancing appetite will keep the market afloat.
  • Stringent government regulations and prohibitions on cannabis products across various nations are identified as significant impediments to the market expansion.

Fairfield Market Research estimates that “North America is poised to maintain its lion’s share in the global cannabis edibles market” and that the “Asia Pacific region is forecasted to exhibit exceptional growth, fueled by the availability of raw materials, and increasing industrialisation.”

A separate market analysis conducted by Technavio found that, “The global cannabis-infused edible products market size is estimated to grow by USD 25.27 billion from 2023-2027.”

“The market is estimated to grow at a CAGR of almost 21.74% during the forecast period. The global cannabis-infused edibles market is expanding due to shifting perceptions and lucrative opportunities.” Technavio stated in a press release about their cannabis edibles market analysis.