According to the latest report by IMARC Group, titled “CBD Food and Beverage Market Share: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global CBD food and beverage market is expected to exhibit a CAGR of 26.5% during 2023-2028.
Cannabidiol or CBD food and beverage refers to consumable items that are prepared using non-psychoactive derivatives of cannabis, naturally obtained from the hemp plant. They can be categorized into bakery products, chocolate, cereal bars, candies, beverages, ice cream, etc. CBD food and beverage items help in osteoporosis, insomnia, stress management, inflammation, hyperemesis, etc., and are healthier alternatives to smoking cannabis as they prevent exposure to tar and carcinogens. As a result, CBD food and beverage products are in extensive demand among consumers across the globe.
Global CBD Food and Beverage Market Trends:
The escalating requirement for wellness beverages among individuals and the growing legalization of recreational cannabis across countries are among the key factors driving the CBD food and beverage market. In addition to this, the elevating adoption of CBD-infused edible products to treat nausea, muscle spasms, weight loss, poor appetite, and numerous types of cancer is also positively influencing the global market. Apart from this, the shifting consumer preferences toward healthier substitutes to smoking cannabis, owing to the high prevalence of various respiratory ailments, are acting as significant growth-inducing factors.
Moreover, the increasing focus among leading manufacturers on formulating natural and chemical-free products with herbal ingredients and the rising demand for CBD protein bars by athletes and sportspersons are further stimulating the market growth. Apart from this, the launch of alcohol-free beer manufactured utilizing CBD and the expanding availability of CBD-infused fruit punch, coffee, tea, and cannabis cola in several legal marijuana dispensaries, specialty stores, and online stores are anticipated to propel the CBD food and beverage market in the coming years.
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Global CBD Food and Beverage Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alkaline88 LLC, Beverages Trade Network, Dixie Brands Inc., Green Roads (Affinity Beverage Group, Inc.), Kannaway LLC, Koios Beverage Corp., Lagunitas Brewing Company (Heineken N.V.), NaturalXtract, New Age Beverages Corporation and The Supreme Cannabis Company Inc.
The report has segmented the market on region, source, product type and distribution channel
Breakup by Source:
Marijuana Derived
Hemp Derived
Synthetic
Breakup by Product Type:
Bakery Products
Chocolate
Cereal Bars
Candies
Beverages
Ice Cream
Others
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Convenience Stores
Online
Others
Breakup by Region:
North America: (United States,Canada)
Asia Pacific: (China, South Korea, Australia, Others)
Europe: (Germany, United Kingdom, Netherlands, Spain, Others)
Latin America: (Brazil, Argentina, Others)
Middle East and Africa: (South Africa, Israel)
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