The global cannabis in food and beverage market size is expected to reach USD 3411.43 million by 2030, according to a new study by Polaris Market Research. The report “Cannabis in Food and Beverage Market Share, Size, Trends, Industry Analysis Report, By Product Type (Bakery products, Chocolate, Cereal bars, Candy, Beverages, Ice cream, Others); By Distribution Channel; By End-Use; By Source Type; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Cannabis's social acceptance in many nations is a big motivator for its incorporation in food and drinks. This acceptance has cleared the road for recreational marijuana legalization, increasing the demand for marijuana-infused sweets and drinks. Furthermore, marijuana meals and drinks have the appropriate amount of marijuana produced with healthful ingredients. Marijuana is in high demand due to the increasing legalization of marijuana for medical and recreational purposes.
Based on the product type, the bakery products segment accounted for the leading share in the market in 2021. This can be related to the rising demand for marijuana-infused bakery foods such as THC and CBD in nations such as the U.S. and Canada. Furthermore, the increased penetration of marijuana in the drinks and spirits industries is predicted to enhance demand for the marijuana food and drinks market in countries like Mexico and Brazil.
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Market players such as Beverages Trade Network, Alkaline88, LLC., Cannabis Sativa Inc., Cannara Biotech, Inc, Coalition Brewing, Rocky Mountain High, Coca-Cola, CannTrust Holdings Inc, Dixie Brands Inc., Dutch Windmill Spirits, GENERAL CANNABIS CORP., Energy Drink, HEXO Corp, Koios Beverage Corporation, Lagunitas Brewing Company, New Age Beverages Corporation, Natural Extractions, Phivida, Organigram Holdings Inc., The The Supreme Cannabis Company, Inc., Alkaline Water Company, and Youngevity International Inc. are some key players operating in the global marijuana in food and drinks market.
In April 2021, The Valens Company Inc. stated that it had agreed to purchase the whole of Green Roads of Florida, LLC's issued and outstanding shares. Green Roads' purchase increases The Valens Company's potential to provide a broader CBD product portfolio to the U.S. domestic and global markets. Furthermore, the Green Roads acquisition would provide many businesses and operational benefits that will assist The Valens Company in achieving its aim of being a top global maker of marijuana products.
Polaris Market Research has segmented the cannabis in food and beverage market report based on product, distribution channel, end-user, source type, and region:
Cannabis in Food and Beverage, Product Outlook (Revenue - USD Million, 2018 - 2030)
Cannabis in Food and Beverage, Distribution Channel Outlook (Revenue - USD Million, 2018 - 2030)
Cannabis in Food and Beverage, End-User Outlook (Revenue - USD Million, 2018 - 2030)
Cannabis in Food and Beverage, Source Type Outlook (Revenue - USD Million, 2018 - 2030)
Cannabis in Food and Beverage, Regional Outlook (Revenue - USD Million, 2018 - 2030)