Cannabis Food and Beverage Market Set to Reach $2.63 Billion by 2026, Driven by Legalization and Consumer Demand

North America leads with 45% market share in 2018; beverages segment to grow at 28.3% CAGR, fueled by evolving regulatory landscapes.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, June 27, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "Cannabis food and beverage Market by Product Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global cannabis food and beverage market size was valued at $427.0 million in 2018, and is expected to reach $2,632.0 million by 2026, registering a CAGR of 26.6% from 2019 to 2026. North America dominated the market in 2018, accounting for around 45% of the total cannabis food and beverage market share.

📍𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 : https://www.alliedmarketresearch.com/request-sample/6298

𝐄𝐱𝐜𝐢𝐭𝐢𝐧𝐠 𝐎𝐟𝐟𝐞𝐫 𝐀𝐥𝐞𝐫𝐭! 🚀 𝐆𝐞𝐭 𝐚 𝐌𝐚𝐬𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐘𝐨𝐮𝐫 𝐍𝐞𝐱𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞! 𝐁𝐮𝐲 𝐧𝐨𝐰 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐥𝐢𝐦𝐢𝐭𝐞𝐝-𝐭𝐢𝐦𝐞 𝐨𝐟𝐟𝐞𝐫. 🛍️

The cannabis food and beverage market hold a substantial scope for the market growth. The market is currently in its growth stage; however, its contribution to the global market is expected to increase significantly during the cannabis food and beverage market forecast period. Rise in legalization of cannabis in food and beverages by many countries has enforced the market to produce innovative products such as flavored waters, wines, butter, and other bakery foods. Growth of the global population and rise in per capita income boost the market growth, thus increasing the demand of cannabis food and beverages.

The legalization of cannabis in developed economies , such as U.S., and Canada, and Australia has increased the demand for cannabis infused beverages to their food. The increase in population coupled with per capita income has increased the demand for cannabis infused bakery items, further boosting the production of cannabis. The per capita income measures the average income earned per person in a given area (city, region, and country) in a specified year. It is used to measure a country's standard of living by dividing the area's total income by its total population. In emerging countries, per capita income is more as compared to developed countries and hence, the consumption of cannabis beverages and food is eventually higher.

The data provided from Allied Market Research underscores the significant growth potential of the global cannabis food and beverage market. It's clear that legalization efforts, particularly in North America, have played a crucial role in driving this expansion. The emergence of innovative products like flavored waters, wines, and bakery items infused with cannabis reflects the market's adaptability to consumer preferences and changing regulatory landscapes.

Moreover, the correlation between rising per capita income and increased demand for cannabis-infused products further emphasizes the market's growth trajectory. As economies develop and disposable incomes rise, consumers often seek out novel experiences and products, which in this case includes cannabis-infused food and beverages.

The distinction made between developed and emerging economies regarding per capita income and consumption patterns is also insightful. While developed nations like the U.S. and Canada have led the way in legalization efforts, emerging markets show potential for significant growth due to their comparatively higher per capita incomes and evolving consumer preferences.

The figures provided by Allied Market Research indicate a remarkable growth trajectory for the global cannabis food and beverage market. With a projected CAGR of 26.6% from 2019 to 2026, the market is poised for substantial expansion, reflecting changing attitudes toward cannabis consumption and regulatory shifts.

📍𝐈𝐧𝐪𝐮𝐢𝐫𝐞 : https://www.alliedmarketresearch.com/purchase-enquiry/6298

North America's dominance in 2018, capturing approximately 45% of the market share, underscores the region's early adoption and legalization efforts. The United States and Canada, in particular, have been key drivers of market growth, with evolving regulatory frameworks creating opportunities for innovative products and distribution channels.

This growth trajectory is indicative of several factors, including increasing consumer acceptance of cannabis-infused products, the emergence of new consumption trends, and expanding legalization efforts globally. As more regions move towards legalization and regulatory clarity, the market is likely to experience even greater growth, presenting opportunities for industry players across the supply chain.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

→ • The beverages segment is expected to grow at a CAGR of 28.3% during the forecast period.

→ • Asia-Pacific is anticipated to dominate the cannabis food and beverage market growth, registering a CAGR of 31.4%.

→ • North America is projected to contribute the highest market share during the forecast period, with around 40% market share in 2026, and CAGR of 26.0%.

→ • The online sales segment is anticipated to dominate the global cannabis food and beverage market, with a CAGR of 29.1% during the forecast period.

→ • The mass merchandisers segment is estimated to grow at a CAGR of 25.6% during the forecast period.

The report highlights a dynamic market landscape driven by regulatory changes, consumer behavior, and economic factors. As legalization efforts continue and consumer acceptance grows, the cannabis food and beverage market is poised for continued expansion, offering opportunities for both established players and newcomers to capitalize on this evolving industry.

📍𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 : https://www.alliedmarketresearch.com/cannabis-food-and-beverage-market/purchase-options

The global market is fragmented with the presence of several market participants across various regions. The strong presence of private label brands is also giving tough competition to global players.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐠𝐥𝐨𝐛𝐚𝐥 𝐜𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐟𝐨𝐨𝐝 𝐚𝐧𝐝 𝐛𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 :

» 𝐍𝐚𝐭𝐮𝐫𝐚𝐥 𝐄𝐱𝐭𝐫𝐚𝐜𝐭𝐢𝐨𝐧𝐬
» 𝐃𝐢𝐱𝐢𝐞 𝐁𝐫𝐚𝐧𝐝𝐬 𝐈𝐧𝐜.
» 𝐍𝐞𝐰 𝐀𝐠𝐞 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
» 𝐂𝐨𝐚𝐥𝐢𝐭𝐢𝐨𝐧 𝐛𝐫𝐞𝐰𝐢𝐧𝐠
» 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞𝐬 𝐓𝐫𝐚𝐝𝐞 𝐍𝐞𝐭𝐰𝐨𝐫𝐤
» 𝐋𝐚𝐠𝐮𝐧𝐢𝐭𝐚𝐬
» 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
» 𝐓𝐡𝐞 𝐒𝐮𝐩𝐫𝐞𝐦𝐞 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐂𝐨𝐦𝐩𝐚𝐧𝐲
» 𝐊𝐨𝐢𝐨𝐬 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧
» 𝐓𝐡𝐞 𝐀𝐥𝐤𝐚𝐥𝐢𝐧𝐞 𝐖𝐚𝐭𝐞𝐫 𝐂𝐨𝐦𝐩𝐚𝐧𝐲.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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