CBD Edibles: Market outlook
CBD edibles is also known as food infused with cannabis. It is actually a food item containing cannabinoids, in particular tetrahydrocannabinol (THC). Cannabidiol is a compound in the cannabis sativa plant, also known as hemp or marijuana. Specifically, 80 chemicals were contained in the cannabis sativa plant, known as cannabinoids. The main active ingredient in marijuana is delta-9-tetrahydrocannabinol (THC); cannabidiol is also derived from hemp that contains only very small quantities of THC.
Multi-billion-dollar industries are being transformed by CBD, including alcohol, health and wellness, cigarettes, and the retail industry. It’s impacting a range of food as well, from gummy bears and cookies to candy and brownies are being infused with CBD with considerable consumer demand. CBD edibles have gained popularity in the marijuana industry as a ‘healthier’ form of THC intake.
Rising cannabis use to treat neurological conditions, mental disorders, and cancer along with pain relief is expected to boost demand for CBD edibles. Diverse cannabis use is projected to lead to substantial growth opportunities for the industry in the years ahead.
Emerging Use of CBD Edibles is Gaining Traction in Food Industry
Solid nourishments offered by CBD edibles has fuelled their demand in the personal care industry. With all the promotional activities popularizing CBD edibles, it is successfully paving way into the nourishment and food industry.
The business publicity of food prepared with CBD as an ingredient, is complemented by the extraordinary efforts of promoting CBD as a “panacea” sound nourishment.
In 2019, cannabis was ranked as the hottest food trend by the world’s largest foodservice association, as per The National Restaurant Association. CBD edibles are expected to replace other consumables, such as cookies, brownies, and confectionaries that are considered to be unhealthy. Cannabis consumers are looking for alternatives for smoking cannabis with longer lasting effect which is projected to drive the demand for CBD edibles market.
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Booming E-Commerce Retail Positively Impacting the Sales of CBD Edibles
Key players are coming up with innovative e-commerce solutions, for example; Meadow is a site that is offering Video chat service to consumers to give medical cannabis prescriptions and deliver the cannabis product from the nearest shop to the consumer.
Shopify is offering Point-of-Sales services for global key players such as Canopy Growth Corp., and Aurora Cannabis Inc,. The majority of the key players offering CBD edibles such as Premium Jane, Pure Kana, and CBD one ltd among others are offering products through their e-commerce websites.
Customers positive attitude towards CBD products and increasing awareness about their benefits have encouraged key players to offer premium products. Some of the leading players are offering premiumization in terms of rarity, customer service, craft, performance, and position to generate maximum revenue. Premiumization is a promise from manufacturers to offer quality products. This is expected to create sales opportunities for value-added products.