CBD Edibles Market Size was valued at USD 8.2 Billion in 2022. The CBD Edibles Market industry is projected to grow from USD 9.5 Billion in 2023 to USD 33.17 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.80% during the forecast period (2023 - 2032). A surge in demand and the expanding legalization of cannabis, coupled with its growing application in cancer treatment and the health advantages provided by cannabis-infused products, are notable trends. Additionally, the incorporation of cannabis in pet food and the rising popularity of cannabis in beverages and sports nutrition is expected to be a significant market driver for the CBD Edibles Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for CBD Edibles is driven by the increasing pressure among working individuals and Rising demand and increasing legalization of cannabis. The mounting pressure faced by working individuals and students has led to a gradual increase in anxiety and depression rates. As per statistics from the Anxiety and Depression Association of America (ADAA), anxiety stands as the most prevalent mental illness in the U.S., affecting over 40 million adults aged 18 and older in 2019. With the escalating prevalence of anxiety and depression, the demand for CBD gummies is expected to experience an upswing in the forecast period.
This rising popularity has facilitated the widespread availability of edibles across retail establishments in the United States, adhering to specific state-regulated cannabis or marijuana laws. In Europe, the cannabis edibles segment is recognized as the fastest-growing category in the cannabis industry. Sub-categories like gummies and infused drinks have demonstrated significant growth in recent years. For example, Switzerland is set to pioneer a cannabis sales pilot program named the "Weed Care" trial program, scheduled to commence in September 2023 and run for 2.5 years until March 2025. Conducted by the Addiction Department of Basel University, the survey will involve 370 participants over the age of 18, monitoring their cannabis consumption habits, as well as their overall physical and mental health throughout the study. As a result, it is anticipated that throughout the projection period, demand for the CBD Edibles Market will increase due to the increasing pressure among working individuals and Rising demand and increasing legalization of cannabis. Thus, driving the CBD Edibles Market revenue.
The CBD Edibles Market segmentation, based on Nature includes Organic and Conventional. The organic segment dominated the market, accounting for 58% of market revenue (4.7 Billion). Consumers commonly link organic products with health advantages, as they believe these items are devoid of harmful pesticides, synthetic chemicals, and other potentially detrimental substances. Given the prevalent use of CBD for health and wellness, consumers are more likely to opt for organic CBD edibles to harmonize with their health-conscious lifestyles.
Figure 1: CBD Edibles Market, by Nature, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The CBD Edibles Market segmentation, based on Type includes Chocolates & Candies, Gummies, Snacks, Supplements, Beverages, and Others. The gummies segment dominated the market, accounting for 58% of market revenue. The rising popularity of CBD (Cannabidiol) gummies can be attributed to their remarkable pain-relieving, anti-depressant, anti-anxiety, and neuroprotective qualities, contributing to the market's anticipated growth in the forecast period. Amid the COVID-19 pandemic, individuals worldwide shifted their focus to daily life essentials. Governments globally implemented restrictions on the export and import of non-essential items, including CBD, unprocessed hemp, and isolate.
The CBD Edibles Market segmentation, based on Sales Channels includes Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, and Online Retail. The Online Retail segment dominated the market, accounting for 60% of market revenue. The notable expansion of this particular segment can be primarily attributed to the seamless convenience and swift integration of CBD-infused products into various E-commerce platforms. This growth is fueled by the ease with which consumers can access a diverse range of CBD products online, taking advantage of the widespread availability and accessibility provided by E-commerce platforms. The convenience factor plays a pivotal role, as consumers can explore and purchase CBD-infused items from the comfort of their homes, contributing to the rapid adoption and success of this market segment. The accelerated penetration of CBD products in the online marketplace further underlines the dynamic shift in consumer preferences towards the digital sphere for acquiring health and wellness products.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the CBD Edibles market in North America can be attributed to several key factors. The emphasis on regulatory compliance solutions for data privacy and security is a key driver for the CBD Edibles market's growth in North America. The region places importance on addressing concerns related to data privacy, with 75% of Americans expressing awareness of potential cyber threats. Despite this awareness, there exists a gap between knowledge and action, as only 64% use tools to protect online privacy, and merely 56% feel in control of their data. The presence of prominent companies like Cassandra, Couchbase, Amazon, and Neo Technologies in North America, coupled with heightened awareness among users about the advantages of CBD Edibles technology, fuels the increasing adoption of CBD Edibles solutions.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CBD EDIBLES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's CBD Edibles Market accounts for the second-largest market share as the CBD market is poised for rapid growth, fueled by a heightened awareness among consumers regarding health and fitness. The anticipated positive impact on demand for cannabidiol in this sector stems from the combination of increasing consumer disposable income and the legalization of medicinal cannabis. In Europe, the two leading illicit cannabis retail markets are expected to be in France and Italy, with approximately 4.6 million and 3.9 million individuals aged 15-64 years reporting cannabis use in the last year, respectively. Following closely are Germany and Spain, with estimated user numbers of 3.8 million and 3.3 million, respectively. Further, the German CBD Edibles Market held the largest market share, and the UK CBD Edibles Market was the fastest-growing market in the European region
The Asia-Pacific CBD Edibles Market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia Pacific region is poised for substantial growth in the foreseeable future, primarily attributed to the establishment of hemp production facilities, notably in China. China stands out as the leading hemp grower in Asia, contributing to almost half of the world's hemp production. The country extensively exports approximately 90% of its hemp products to major markets, including the U.S., Germany, the U.K., the Netherlands, and Japan. Significantly, China has initiated hemp cultivation in three provinces specifically for CBD extraction purposes. Fueled by new government policies that support the industry, coupled with the advantages of low CBD production costs and a unique large-scale manufacturing infrastructure and expertise, the region is expected to witness heightened competition among hemp companies. This competition is anticipated to present a challenge to hemp suppliers in the U.S., Canada, and the European Union, as China's low-cost CBD supplies become increasingly prominent in the market. Moreover, China’s CBD Edibles Market held the largest market share, and the Indian CBD Edibles Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the CBD Edibles market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the CBD Edibles industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the CBD Edibles industry to benefit clients and increase the market sector. In recent years, the CBD Edibles industry has offered some of the most significant advantages to the health and wellness sector. Major players in the CBD Edibles Market, including Pure Kana, CV Sciences, Tlsodiol International, Elixinol Ltd, Charlottes Web Holdings Inc, Canopy Growth Corp, Medical Marijuana Inc, Aurora Cannabis Inc, MGC Pharmaceuticals Ltd, and Creso Pharma Ltd are attempting to increase market demand by investing in research and development operations.
Formerly known as Prescient Mining Corp, Aurora Cannabis Inc is a medical cannabis manufacturer and distributor. The company offers a range of marijuana products, including dried cannabis, cannabis oil, dried buds, pre-rolls, vaporizers, concentrates, gummies, Aurora CBD drops, Aurora THC drops, Trivia soft gels, Thor, and Stellio oil. These products are marketed under various brand names such as CanniMed, WMMC, Aurora, MedReleaf, and Whistler. Aurora Cannabis operates from its headquarters in Edmonton, Alberta, Canada, and distributes its products through phone orders, online shops, and a mobile application.
CV Sciences operates as a consumer wellness company specializing in nutraceuticals and plant-based nutrition. The primary objective is to enhance both physical and mental well-being through natural wellness products featuring hemp extracts and other scientifically supported natural ingredients. Their dedication to the scientific foundation of plant-based wellness has positioned them as leaders in the natural health products industry. Pioneering one of the first CBD brands to market in 2014, +PlusCBD stands as the top-selling natural CBD in the U.S., offering oils, soft gels, gummies, and topicals with varying CBD concentrations for daily wellness support. With over 10 million products sold, CV Sciences' +PlusCBD holds the leading position as the #1 selling CBD supplement line in the U.S. In August 2020, CV Sciences, Inc. introduced the Happy Lane product line, featuring soft gels, roll-ons, liquids, chews, and gummies, which are distributed through convenience stores and select natural products retailers nationwide.
CBD Edibles Industry Developments
February 2021: In February 2021, Pure Kana completed the acquisition of 'BUDAPETS,' an all-natural pet wellness brand. Additionally, Pure Kana is set to expand its portfolio of CBD edibles further by acquiring the nutrition brand 'TRUBAR' shortly.
March 2021: In March 2021, CV Sciences established a partnership with Alkemist Labs to enhance the measurement capabilities of its CBD products. The company also introduced its new healthcare products brand line, 'ProCBD,' which is available through medical practitioners as of earlier this year.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 8.2 Billion |
| Market Size 2023 | USD 9.5 Billion |
| Market Size 2032 | USD 33.17 Billion |
| Compound Annual Growth Rate (CAGR) | 16.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Nature, Type, Sales Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Pure Kana, CV Sciences, Tlsodiol International, Elixinol Ltd, Charlottes Web Holdings Inc, Canopy Growth Corp, Medical Marijuana Inc, Aurora Cannabis Inc, MGC Pharmaceuticals Ltd, and Creso Pharma Ltd |
| Key Market Opportunities | Increasing use of CBD edibles as dietary supplements |
| Key Market Dynamics | Rising demand from healthcare industry |
Frequently Asked Questions (FAQ) :
The CBD Edibles Market size was valued at USD 8.2 Billion in 2022.
The CBD Edibles Market is projected to grow at a CAGR of 16.80% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are Pure Kana, CV Sciences, Tlsodiol International, Elixinol Ltd, Charlottes Web Holdings Inc, Canopy Growth Corp, Medical Marijuana Inc, Aurora Cannabis Inc, MGC Pharmaceuticals Ltd, and Creso Pharma Ltd
The Organic segment dominated the market in 2022.
The Online Retail segment had the largest share in the market.
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