LONDON--(BUSINESS WIRE)--The global cannabis-infused edible products market is expected to register a CAGR of over 25% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the social acceptance of cannabis. Over the year cannabis products have found wide acceptance in countries such as the US, Canada, Spain, Germany, Uruguay, Australia, Columbia, Chile, and Israel. Many more countries are anticipated to legalize the use of cannabis across various domains. Therefore, increasing social acceptance of recreational marijuana and cannabis-infused edible products across different geographic locations offers tremendous growth opportunities for vendors in the market.
This market research report on the global cannabis-infused edible products market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing number of countries decriminalizing cannabis as one of the key emerging trends in the global cannabis-infused edible products market:
Global cannabis-infused edible products market: Increasing number of countries decriminalizing cannabis
The legalization of cannabis for recreational and medical products is an emerging trend which is gaining force across the globe. Currently 28 states across the US have legalized marijuana, while 15 others have authorized the use of CBD products. Similar trends are being witnessed across the globe where numerous countries have legalized the use of marijuana for medical purposes.
“The incorporation of new techniques in cannabis cultivation has resulted in the higher growth rate of the global legal cannabis market. The use of these advanced techniques has led to improved quality of the marijuana-derived CBD-oil products, which augurs well for the growth of the market,” says a senior analyst at Technavio for research on the food sector.
Global cannabis-infused edible products market: Segmentation analysis
This market research report segments the global cannabis-infused edible products market by product (food and beverages) and key regions (the Americas, APAC, and EMEA).
The food segment held the largest market share in 2017, accounting for over 60% of the market. This product segment is expected to increase by a further 4% to maintain its domination over the global market throughout the forecast period
The Americas held the highest share of the global cannabis-infused edible products market in 2017, accounting for a market share of approximately 74%. However, the market share occupied by this region is anticipated to decrease by around 1% during 2018-2022.
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