Global Cannabis Infused Products Market – Industry Trends and Forecast to 2030

Global Cannabis Infused Products Market, By Product (Skincare, Cosmetics, Haircare, Intimate Lubricants, Pharmaceuticals, Gummies, Pills, Infused Beverages, and Others), Source (Hemp, Marijuana), Distribution Channel (B2B, B2C), End User (Medical, Personal Use, Pharmaceuticals, Wellness) – Industry Trends and Forecast to 2030.

Cannabis Infused Products Market Analysis and Size                                

The cannabis infused products market is expected to witness significant growth during the forecast period of 2023-2030. The increasing number of scientific trials of cannabis-infused medications for various therapeutic areas, particularly cannabidiol use, is driving market growth. Furthermore, the narrative among physicians about the benefits of cannabis-infused medicines, as well as supporting clinical evidence, is leading to an increase in patient prescriptions for cannabis-infused medicines.

Data Bridge Market Research analyses that the cannabis infused products market which was USD 29.68 billion in 2022, would rocket up to USD 150.51 billion by 2030, and is expected to undergo a CAGR of 22.5% during the forecast period 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Cannabis Infused Products Market Scope and Segmentation      

Market Definition

Cannabis infused products is another name for medicinal marijuana (MMJ). The use of cannabis as medicine has not received extensive research because of production and political restrictions. A family of flowering plants called cannabaceae includes the species cannabis. Three varieties of cannabis—cannabis sativa, cannabis indica, and cannabis ruderalis—can be distinguished.

Cannabis Infused Products Market Dynamics

Drivers

• Use in various disorders

Cannabis is increasingly recognized as an effective treatment for many conditions, including nausea and vomiting brought by chemotherapy, restlessness, muscle tightness, and chronic discomfort. The bulk of firms are moving forward quickly with their investigations into the therapeutic potential of hemp and cannabis.

• Cannabinol and Tetrahydrocannabinol-modified edibles

CBD and THC-infused edibles are becoming increasingly popular in all legal states. Furthermore, customers and investors are becoming more interested in infused beverages. The complex administrative process for cannabis acceptance can stymie industry growth. The therapeutic properties of cannabis and the ongoing legalization of cannabis capsules will serve as opportunities for market expansion.

• Increasing legalization of cannabis

The majority of cannabis users in American states and provinces that have legalized the drug are over 50. It is expected that this demographic will lead to a rise in cannabis demand in the nation due to a higher likelihood of chronic diseases. After the age of 50 and cannabis' efficacy in treating these disorders, cannabis's popularity and demand are expected to rise in the future, due to continuous research and product standardization for medicinal uses.

Opportunities

• Rising use of cannabis

Before taking the capsules, the dosage must be correctly calculated to provide the necessary medical benefits. More reliable methods include using modern equipment, competent lab technicians, and licenced producers. The demand is growing significantly due to the therapeutic advantages of cannabis capsules. Therefore, investors are keen to invest in newly established or well-established plants with the necessary equipment, skilled labour, and a licence to create cannabis capsules. Existing manufacturers are also devoting time and resources to innovating to create capsules with the best quality and appropriate doses.

Restraints/Challenges

• Rising demand for cannabis dosages

Cannabis capsules are being manufactured to make accurate and calculated dosage of the mixture of different drugs that includes cannabis. The demand for these calculated cannabis dosages is rising globally as they open up a wide range of medical procedures to treat patients with conditions including Alzheimer's disease, cancer, epilepsy, glaucoma, PTSD, muscular spasms, etc.

This cannabis infused products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabis infused products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cannabis Infused Products Market

COVID-19 had an adverse impact on the cannabis infused products market. The imposition of lockdown limited consumers from visiting brick-and-mortar shops. However, many cannabis companies began relying heavily on social media and e-commerce platforms to market their products during the year. Cannabis retail outlets, producers, manufacturers, distributors, and warehouses were deemed essential services by the alberta government on March 30, 2020. As a result, cannabis businesses and services continued to serve Albertans throughout the COVID-19 pandemic.

Recent Development

• In March 2021 - One of the top German pharmaceutical firms, STADA Arzneimittel AG, partnered with MediPharm Labs to launch two flower products and six more in the future, entering the market for cannabis-infused goods.
• In May 2021- TCV Sciences, Inc. introduced PLUSCBDTM calm and sleep gummies, two scrumptious sweets that assist people in returning to regular routines by promoting healthy stress responses and sleep patterns.

Global Cannabis Infused Products Market Scope

The cannabis infused products market is segmented on the basis of product, source, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Skincare
• Cosmetics
• Haircare
• Intimate Lubricants
• Pharmaceuticals
• Gummies
• Pills
• Infused Beverages
• Other

 Source

• Hemp
• Marijuana

Distribution Channel

• B2B
• B2C

End User

• Medical
• Personal Use
• Pharmaceuticals
• Wellness

Cannabis Infused Products Market Regional Analysis/Insights

The cannabis infused products market is analysed and market size insights and trends are provided by country, product, source, end user and distribution channel as referenced above.

The countries covered in the cannabis infused products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cannabis infused products market due to the increasing number of geriatric population and innovative medical technology adoption.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 due to the rising health awareness among the people and rising demand of advanced medical technology.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Cannabis Infused Products Market Share Analysis

The cannabis infused products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabis infused products market.

Some of the major players operating in the cannabis infused products market are:

• Joy Organics (U.S.)
• CBD istillery (U.S.)
• Gaia Botanicals (U.S.)
• Harmony (U.S.)
• Floyd’s of Leadville (U.S.)
• Lazarus Naturals (U.S.)
• cbdMD (U.S.)
• Pure Hemp Botanicals (U.S.)
• ENDOCA(Netherlands)
• Green Roads (U.S.)
• Tilray (U.S.)
• Canopy Growth Corp. (Canada)
• GW Pharmaceuticals PLC (U.K.)
• Aurora Cannabis (Canada)
• Aphria Inc. (Canada)
• CV sciences Inc. (U.S.)