NEWARK, Del., Aug. 25, 2022. The global cannabis drinks market is set to witness growth at a CAGR of 37.3%and top a valuation of US$ 8.3 Bn by 2032. Various health benefits, such as improved sleep patterns, weight loss, depression and anxiety reduction, blood pressure regulation, and others, are predicted to fuel global cannabis drinks growth over the forecast period (2022-2032).
Furthermore, demand for cannabis drinks is predicted to rise as the use of cannabis for neurological illnesses, epilepsy, cancer, and pain management grows. Similarly, the legalization of recreational or medicinal cannabis had a positive impact on the industry.
Hence, several leading companies operating in cannabis drinks market has expanded substantially, enhancing the variety and quantity of products available to end-users. This is expected to increase the demand for cannabis drinks by more than 20x through 2022 & beyond.
Key Takeaways from Market Study
- The cannabis drinks market is worth of US$ 0.4 Bn sales in 2022 and expand at CAGR of 3% between 2022 and 2032.
- Global cannabis drinks demand is projected to grow year-on-year (Y-o-Y) growth of 2% in 2022.
- India is expected to be the most lucrative cannabis market in South Asia over the assessment period.
- In terms of product type, the alcoholic cannabis infused drinks segment is expected to record the highest CAGR during the forecast period.
“Cannabis drinks sales are increasing from regulated dispensaries, creating a multitude of options for specialized retailers to present appetizing and creative drinks, which are infused with active cannabis. In addition to that, distribution channels, which are allowed to serve cannabis drinks as the go-to-place for cannabis-based edibles, are likely to gain momentum in the upcoming decade,” says a Future Market Insights analyst.
Key cannabis drinks brands are conducting several researches and looking for new strategic partnerships, while key business brands are focusing on developing the applications in food industry to generate high quality food and beverage solutions. Top players are focusing on new formulations and product innovations to gain market share and attract more customers towards the product.
- In December 2018, Ceria Grainwave, a THC infused non-alcoholic beer made its debut on dispensary shelves.
- In 2017, the 3rd largest beer manufacturer in the US, Constellation Brands, announced to a partnership with the largest marijuana grower in the world, Canopy Growth to develop cannabis drinks.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global cannabis drinks market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on product type (alcoholic cannabis infused drinks and non-alcoholic cannabis infused drinks), component (tetrahydrocannabinol or THC infused drinks and cannabidiol or CBD infused drinks), flavor (unflavoured and flavoured), and sales channel (B2B / HoReCa and B2C), across seven major regions of the world.
Cannabis Drinks Market by Category
By Product Type, Cannabis Drinks Market is Segmented as:
- Alcoholic Cannabis Infused Drinks
- Cannabis Infused Wine
- Cannabis Infused Beer
- Other Cannabis Infused Spirits
- Non-Alcoholic Cannabis Infused Drinks
- Cannabis Infused Water
- Cannabis Infused Coffee
- Cannabis Infused Tea
- Cannabis Infused Juice
- Other Cannabis Infused Functional Drinks
By Component, Cannabis Drinks Market is Segmented as:
- Tetrahydrocannabinol (THC) Infused Drinks
- Cannabidiol (CBD) Infused Drinks
By Flavor, Cannabis Drinks Market is Segmented as:
- Apple Cider
- Black Tea
By Sales Channel, Cannabis Drinks Market is Segmented as:
- B2B / HoReCa
- Hypermarkets /Supermarkets
- Food Specialty Stores
By Region, Cannabis Drinks Market is Segmented as:
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Have a Look at Food & Beverage Domain Related Research Reports:
Cannabis Concentrate Market Size – Psychoactive ingredients such as called tetrahydrocannabinol (THC) and cannabinoid are extracted from the herb cannabis sativa, giving rise to a golden and transparent semi-solid mass called the cannabis concentrate.
Soft Drinks Concentrate Market Share – Soft drinks are beverages containing distilled water, sweetening agents, and flavoring agents. The sweetening agent used may be sugar, sweetener, high-fructose corn syrup, or any other sweet enhancing substance.
Breakfast Drinks Market Trends – Breakfast drinks are defined as a food products that are formulated through processing cereals with milk or other liquid ingredient. It is marketed as a supplementary food and positioned as a healthy, fast and convenient option for breakfast.
Organic Drinks Market Sales – Organic drinks are drinks manufactured with organic fresh vegetables or fruits grown without any artificial substance such as fertilizers, pesticides, or insecticides.
Low Fat Drinks Market Demand – Low fat drinks are healthy and nutritious rich drinks with reduced fat and low in calories. Buyers across the globe are reducing the intake of certain beverages which are high in fat, sugar and sodium. Further, they are opting for low fat drinks with less artificial ingredients.
(This information is primarily sourced from Future Market Insights. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).