The global cannabis edibles market is poised for a surge, with revenues expected to skyrocket from $9.6 billion in 2022 to $27.2 billion by 2030, according to a new market forecast. This seismic growth is fueled by a variety of factors, including a shift in consumer preferences away from traditional smoking methods and an increased awareness of the health benefits associated with cannabis edibles.

The projections come from a recent market analysis by Fairfield Market Research. They reported that primary drivers behind this robust growth include evolving regulations that have opened the cannabis market in more areas and the expanding awareness among consumers.

As more areas enjoy access to legal recreational cannabis edibles and people learn more about the benefits, the trajectory of the cannabis edibles market is set to continue its upward climb. With consumers placing a premium on health and diverse product preferences, the consumption of cannabis edibles is expected to reach new heights.

Why People Prefer Cannabis Edibles

The preference for cannabis edibles over smoking legal cannabis is influenced by a variety of factors, reflecting evolving consumer attitudes and the expanding cannabis market. Here are some reasons why people may choose edibles.

Discretion. Edibles are often more discreet than smoking. They don’t produce the characteristic smell associated with smoking cannabis, making them a preferred option for those who wish to consume without drawing attention.

Long-lasting effects. Edibles typically have a slower onset but provide a longer-lasting high compared to smoking. This prolonged effect is attractive to individuals seeking sustained relief from symptoms without the need for frequent consumption.

Precise dosing. Edibles offer precise dosing, with the THC content (the psychoactive compound in cannabis) clearly labeled on packaging. This allows users to control their intake more effectively.

Variety of products. The cannabis edibles market offers a wide array of products, including gummies, chocolates, and beverages. This variety appeals to consumers who want diverse consumption options and flavors.

Accessibility and convenience. Edibles are easy to consume without the need for specialized equipment. This simplicity makes them accessible to a broader audience, including individuals who may be new to cannabis.

Social and recreational aspects. Edibles can be consumed more inconspicuously in social settings, allowing individuals to partake in a more discreet manner during social gatherings.

Factors such as personal taste, desired effects and lifestyle considerations all play a role in influencing the preference for one method of cannabis consumption over another.

Key Research from the Report

Cannabis gummies emerged as a market leader in 2022, offering diverse options for both recreational and medicinal users, along with discreet and convenient consumption.

North America is projected to command the highest market share through 2030, driven by the increasing demand for cannabis-infused foods and cannabis-infused beverages, particularly in the United States. Meanwhile, the Asia Pacific region is poised for exceptional growth, driven by increasing consumer acceptance and understanding of cannabis-related products.

While the conventional segment dominated in 2022, the organic category is expected to witness substantial growth over the forecast period, according to the Fairfield Market Research report. Consumers inclined towards natural and sustainable products, as well as those concerned about environmental and health impacts, are likely to drive the rise in organic cannabis edibles.

Cannabis gummies are expected to maintain their dominance, offering discreet consumption, easy administration and a variety of flavors. The supplements category, featuring concentrated cannabinoids in capsule, soft gel or tincture form, is projected to witness significant expansion.

The forecast also suggested that specialty stores or cannabis dispensaries are expected to grow substantially, providing a personalized experience with knowledgeable staff guiding consumers based on preferences and needs.

Despite the promising outlook, challenges remain, including stringent government regulations and prohibitions on cannabis products across various nations, identified as significant impediments to market expansion. However, increased public awareness regarding the potential health benefits of cannabis edibles, combined with the diminishing appeal of smoking cannabis, is expected to keep the cannabis edibles market strong.