01 Oct 2019 Here comes cannabis: how legalisation will disrupt global industries
The global legal market is expected to represent 77% of total cannabis sales in 2025, reaching $166-billion. Within the next decade, some form of cannabis will be a part of consumers’ daily routines, either as a functional ingredient in foods, beverages and beauty or as a wellness mood enhancer in health.
View on packaged food
Hemp-based food products, such as hemp seeds, oil, plant-based milk alternatives and protein bars, have long existed on the shelves of health food stores. However, Euromonitor International expects global sales of CBD packaged foods to double over the next two years, as consumer awareness grows of the ingredient’s benefits.
As CBD and THC become more mainstream and manufacturers recognise their potential, the market will be dominated by outcome-based products, which will address a specific condition. This will further blur the boundaries between food and consumer health.
CBD food products are currently concentrated in sweet categories. However, once markets expand and cannabinoids as an added ingredient become ubiquitous, cannabis will become prevalent in food categories beyond this, such as bakery products, savoury snacks, pasta and soups.
To read more on this massive trend, download this FREE report from Euromonitor now to:
- Understand which industries will be most impacted by cannabis legalisation.
- Identify new formats of cannabis within each industry.
- Learn how it will disrupt FMCG through 2030.
Click here to download…..
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