IMARC Group's report titled "CBD Food and Beverage Market Report by Source (Marijuana Derived, Hemp Derived, Synthetic), Product Type (Bakery Products, Chocolate, Cereal Bars, Candies, Beverages, Ice Cream, and Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, Online, and Others), and Region 2024-2032". The global CBD food and beverage market size reached US$ 7.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 57.6 Billion by 2032, exhibiting a growth rate (CAGR) of 26.33% during 2024-2032.
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Factors Affecting the Growth of the CBD Food and Beverage Industry:
- Consumer Awareness:
As consumers are becoming more informed about CBD through various sources, including online resources, media coverage, and educational campaigns, they gain a better understanding of its potential benefits. The increasing consumer awareness about the potential health benefits of CBD, such as stress relief, pain management, and relaxation, generates interest and curiosity, driving demand for CBD-infused products. In addition, the availability of scientific research and medical endorsements provides consumers with credible information about therapeutic properties of CBD.
- Health and Wellness Trends:
Consumers are prioritizing their well-being and they seek products that not only provide nourishment but also offer potential health benefits. CBD, derived from the cannabis plant, is associated with various potential health benefits, including stress reduction, pain management, and relaxation. This aligns with the broader wellness goals of many consumers. Health-conscious consumers often prefer natural and plant-based ingredients in their diet. CBD, sourced from hemp plants, fits into this preference for natural and minimally processed products.
- Product Innovations:
Continuous innovations are leading to a wide range of CBD-infused food and beverage options, including gummies, beverages, chocolates, and even savory snacks. This diversity caters to different consumer preferences. Innovations in product formulation are addressing taste and texture issues commonly associated with CBD products, making them more enjoyable for consumers. CBD-infused products often offer customizable dosages, allowing consumers to adjust their CBD intake according to their needs and preferences.
Leading Companies Operating in the Global CBD Food and Beverage Industry:
- 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
- The Supreme Cannabis Company Inc.
CBD Food and Beverages Market Report Segmentation:
By Source:
- Marijuana Derived
- Hemp Derived
- Synthetic
On the basis of source, the market has been divided into marijuana derived, hemp derived, and synthetic.
By Product Type:
- Bakery Products
- Chocolate
- Cereal Bars
- Candies
- Beverages
- Ice Cream
- Others
Bakery products account for the majority of the market share due to the incorporation of CBD in them in a versatile and discreet way, appealing to consumers seeking both indulgence and potential health benefits.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
- Others
Specialty stores exhibit clear dominance in the market as they provide a dedicated and knowledgeable environment for consumers to explore and purchase CBD food and beverage products.
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the CBD food and beverage market on account of early regulatory advancements and the increasing consumer awareness.
Global CBD Food and Beverages Market Trends:
The increasing consumer interest in CBD-infused products and evolving regulations is propelling the growth of the market. Manufacturers are continually diversifying their product offerings, expanding beyond traditional formats to include a wide range of CBD-infused items, ranging from beverages to snacks and condiments. Consumers are seeking CBD products for potential health benefits, such as stress relief, pain management, and relaxation, aligning with the broader health and wellness trend.
CBD products are becoming more accessible through various retail channels, including specialty CBD stores, pharmacies, health food stores, and online platforms. E-commerce is playing a significant role in driving sales, offering consumers a convenient way to purchase CBD products from the comfort of their homes.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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