Industry Analysis Medical Healthcare

Growing Demand for Food & Beverages Across the Globe is Expected to Boost the Demand for CBD-Infused Confectionery Market During the Forecast Period 2028

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Market Forecast

The global CBD-infused confectionery market size is projected to be valued at USD 10.42 billion by 2028 at a CAGR of 12.25% between 2021 and 2028. CBD-infused confectionery is a form of cannabidiol edible. It contains a therapeutic compound, CBD that is extracted from the marijuana plant. CBD-infused confectionery is like regular confectioneries and comes in various shapes and sizes. It is the most discrete way of consuming CBD. The CBD industry is gaining momentum all across the globe. Plenty of CBD products, such as CBD bath bombs, CBD edibles, CBD vapes, CBD cosmetics, and CBD toothpicks, are available in the market. CBD edibles in the form of confectionery, such as gummies and candies, are also available. CBD-infused confectionery is infused with the right amount and healthy dose of CBD hemp extract. It is made from hemp and has little to no tetrahydrocannabinol (THC).

Chronic conditions, such as anxiety, insomnia, and epilepsy, need pain management solutions. In such cases, CBD can be useful. Among all the available CBD products, edibles are a better form as they are easy to use. CBD-infused confectionery comes in different colors, shapes, and flavors. Consumers can choose from a wide range of options while comparing the appropriate option for them.

Cannabis has various active cannabinoids, even though the CBD found in it is non-psychoactive. It does not cause any strong effect on brain activity, and thus, it is safe to use in various CBD-infused products, including CBD-infused confectionery. The legal cannabis market is growing at the fastest pace owing to the increasing awareness about its benefits. For instance, CBD gummies have gained enormous popularity in the past couple of years. CBD-infused confectionery provides a different experience than many other forms of CBD because they are administered in a different way in the body and taste better than other methods. Apart from that, the legalization of cannabis in various countries across the globe is also supporting market growth. The increasing prevalence has surged the demand for functional food derived from cannabis, as there is substantial evidence that proves cannabis is an effective active ingredient used to treat various diseases.

However, the production of CBD compounds through synthetic methods is expected to restrain the market growth during the forecast period. With the increase in R&D in pharmaceutical companies, it is possible to develop CBD compounds through synthetic methods in labs without growing the cannabis plant. For instance, STI Pharmaceuticals, a UK-based company, is engaged in cannabinoid research and develops synthetic CBD compounds in collaboration with its partners. Thus, the adoption of synthetic methods for the procurement of CBD compounds is expected to be a major threat to the growth of the global CBD-infused confectionery market in the long run.

Market USP

Increasing demand for CBD infused food products

Growth Opportunities in the Market

Increasing demand for sugar-free products: The consumption of CBD-infused confectionery has been increasing rapidly over the last few years. CBD-infused confectionery products come in two types such as sugar-based and sugar-free. Among that, the consumption of sugar-based CBD-infused confectionery is decreasing over the last few years, and sugar-free confectionery is gaining acceptance. The demand for sugar-free confectionery is anticipated to be driven by several factors. The high consumption of sugar has been found to offer several adverse effects on the consumer’s health. A substantial amount of sugar consumption over the long term leads to a higher risk of obesity and diabetes.

Moreover, the high consumption of sugar also increases the chances of cardiovascular diseases. So, the increasing obesity and diabetes from the consumption of confectioneries have influenced consumers to consume sugar-free confectioneries. Manufacturers are coming up with new sugar-free CBD-infused confectionery to cater to the specific requirement of the consumers. For instance, CBD American Shaman offers sugar-free CBD gourmet gummies in orange, blue raspberry, and watermelon flavors. So, the increasing consumer inclination towards sugar-free CBD-infused confectionery is expected to create an opportunity forthe manufacturers of CBD-infused confectionery during the forecast period.

Improving Status of Cannabis in Asian Countries: Cannabis and its derivative products are illegal in most Asian countries, but the legal landscape is shifting in several countries. Despite the legal and cultural complications, some countries in Asia are potential markets for cannabidiol (CBD) products. For instance, in November 2018, the Public Health Ministry took the initiative to reclassify cannabis and change its status from a completely prohibited item in Thailand. Thailand’s military junta-appointed parliament voted to amend the 1979 Narcotics Act, legalizing cannabis for medicinal and research uses. Moreover, South Korea’s National Assembly approved the Amendment to the Narcotics Control Act in November 2018 to allow the production of marijuana for medical purposes. The use of cannabis is illegal in Japan, but research for cannabinoids is being undertaken with about 40 farmers given licenses to grow a low-THC strain of Cannabis called Tochigi Shiro. Thus, these initiatives in Asian countries are shifting in favor of CBD production, which is expected to create lucrative opportunities for market players in the coming years

Key Players

    • Cannabinoid Creations (US)

 

    • Aurora Cannabis (Canada)

 

    • Med CBDX (US)

 

    • Dixie (US)

 

    • Joy Organics (US)

 

    • Folium Biosciences (US)

 

    • CBD American Shaman (US)

 

    • CBDfx (US)

 

    • Diamond CBD (US)

 

    • Medix Wellness LTD (UK)
    • https://www.cri-report.com/industry/food-beverage/confectionery-fillings-market-research-report-forecast-till-2028/

 

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