Several players and vendors in the food and beverages industry have been focusing on the production and development of new, cannabis-infused products intended to aid in anxiety and pain relief. This is favoring the growth of the global CBD edibles market.
Products in the global CBD edibles market are found to be helpful in aiding consumers in several ways, owing to their significant medical benefits. These products are available in a wide variety of flavors and forms.
Furthermore, cannabis or hemp-based products in the global CBD edibles market can help consumers gain relief from depression and stress. The COVID-19 pandemic triggered various anxiety and fear-based issues among the global population. This resulted in opening up new doors for developing and manufacturing natural and remedial products for the players and manufacturers in the global CBD edibles market. Moreover, increasing usage of products in the global CBD edibles market as dietary supplements is also aiding in the market expansion.
Recent research indicates that the global CBD edibles market will expand at a growth rate of 13.7% over the forecast period of 2021 to 2031. It also projects that the global CBD edibles market will grow to surpass the valuation of $34.14 billion (USD) at the end of that forecast period. The global CBD edibles market was evaluated at $9.46 billion (USD) in 2021. Products in the global CBD edibles market are not just useful for chronic pain relief, but also in reducing inflammation, as well.
Moreover, increase in awareness as well as popularity of edible products made using CBD is positively influencing the growth in the global CBD edibles market. On the other hand, stringent government regulations and rules pertaining to the consumption of CBD as well as high costs are some of the market’s key restraints. However, lucrative health benefits offered by the products in the global CBD edibles market such as reduction in the risk of cancer, high organic content, and providing control of chronic illnesses such as diabetes are compelling consumers to opt for CBD-infused edible food products.