Cannabis belongs to the family of flowering plants in the Cannabaceae group. The number of the species within the same plant is disputed. Generally three species of cannabis may be recognized such as Cannabis indica, Cannabis sativa, and Cannabis ruderalis. The genus is widely accepted as originated and indigenous to Central Asia. The cannabis plant is sometimes also known as hemp, but this term is used primarily to refer only the varieties of Cannabis that are cultivated for non-drug use. It has long been to make hemp seeds, oil, hemp fiber, and hemp leaves for use as vegetables and juice, or even in medicinal purposes as a recreational drug. There are more than 100 different types of cannabinoids among which tetrahydrocannabinol (THC) and cannabidiol (CBD) are the most popular.
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Several food and beverages are being prepared from Cannabis since last few years. Cannabis edible, or a cannabis-infused food is a type food product that contains cannabinoids, especially tetrahydrocannabinol THC or CBD. Most edibles that are made from cannabis contain a noticeable amount of THC, which induces a wide range of health effects, including relaxation, increased appetite, euphoria, anxiety, and fatigue. THC or CBD infused edibles food items are consumed for medical and recreational purposes. Food and beverages that are made by using non-psychoactive cannabis are called hemp foods. Cannabis-infused baked good is a common type of cannabis food. Popular varieties of such baked food include space cakes, pot brownies, and hash cookies. Some products such as Floyd’s of Leadville CBD Recovery Protein and snack protein bars are specially targeted at those athletes who are looking for CBD infused food products as a way of recovery after workouts.
Cannabis is considered as a drug which makes the consumer feel high, and thus, its use in food and beverage was limited and regulated in many countries until the start of the 21st century. However, cannabis has been legalized in many regions in the past few years and owing to this, the cannabis food and beverages market is expected to experience promising growth in the coming years. In the U.S., 33 states legalized medical cannabis and 10 states have legalized cannabis for adult use. Thus, this step toward legalizing cannabis is driving the growth of the cannabis food and beverage market.
Welcoming the legalization of Cannabis, established players are inventing food and beverages that are made from cannabis. There is a wide range of CBD mixed food and beverages products that are currently available in the market. Some of these products are olive oil, flavored waters, chocolate, cider, specialized tea, coffee, and lemonade. Apart from these products CBD infused wine is the new trend in the spirits. Moreover, many of the well established players in the market including the Coca-Cola Company, have mentioned that they are closely watching the development of cannabis market for food and beverage. Along with Coca-Cola, Walmart is also planning to make cannabis products available in their stores in Canada. Hence, this is expected to provide potential opportunities for the cannabis food and beverage market during the forecast period.
There are still regulations in many part of world about the use of cannabis while preparing food and beverages. This factor slows the growth of the cannabis food and beverages market in these regions, which is affecting the overall growth of the global cannabis food and beverage market.
The cannabis food and beverage market is segmented on the basis of product type, distribution channel, and region. The product type segment includes bakery products, chocolate, cereal bars, candy, beverages, ice cream, and others. On the basis of distribution channel, the segment is classified into mass merchandisers, specialty store, online stores, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global cannabis food and beverage market are Natural Extractions, Dixie Brands Inc., New Age Beverages Corporation, Coalition brewing, Beverages Trade Network, Lagunitas, General Cannabis Corporation, The Supreme Cannabis Company, Koios Beverage Corporation, and The Alkaline Water Company.
Key benefits for stakeholders
– The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2026 to identify the prevailing cannabis food and beverage market opportunities.
– Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
– In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
– The major countries in each region are mapped according to their revenue contribution to the global industry.
– The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the cannabis food and beverage industry.
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Key market segments
– By Product Type
– Bakery products
– Chocolate
– Cereal bars
– Candy
– Beverages
– Ice cream
– Others
– By Distribution Channel
– Mass Merchandisers
– Specialty Store
– Online Stores
– Others
– By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o UK
o Switzerland
o Netherlands
o Rest of Europe
– Asia-Pacific
o Australia
o New Zealand
– LAMEA
o Uruguay
o Colombia
o South Africa
o Rest of LAMEA
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