Portland, OR – According to the report published by Allied Market Research, the global CBD wine market generated $11,100 thousand in 2021, and is estimated to reach $112,458.2 thousand by 2031, witnessing a CAGR of 27.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Report coverage & details:
|Market Size in 2021
|Market Size in 2031
|No. of Pages in Report
||Type, Packaging, Distribution Channel, and Region
||Increased legalization of cannabis-infused beverages in many countries
|Innovative product offers by international brands targeting niche target markets
|Rise in per capita income of consumers
||Rise in demand for CBD wine from high income consumers
|Shifting consumer behavior patterns for food and beverages across the world
||Varying cost of raw materials
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the CBD wine market during the initial phase in 2020, owing to reduced product demand from major on trade end-users and suspended operations. There were limited operations taking place in the market due to disruption in the supply chain of raw materials and less demand.
- The imposition of lockdown and curfew procedures worldwide had an impact on both domestic and foreign manufacturers of CBD wine, which hampered the market expansion.
- However, there was a change in consumers’ buying behavior in the second phase of the pandemic, and e-commerce sales of CBD wine have increased since then.
The report offers detailed a segmentation of the global CBD wine market based on type, packaging, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the hemp-based CBD wine segment held the largest share in 2021, contributing to more than three-fourths of the global CBD wine market, and is likely to maintain its leadership status during the forecast period. However, the marijuana-based wine segment is expected to manifest the highest CAGR of 28.6% from 2022 to 2031. The report also provides an analysis of the marijuana-based Wine segment.
Based on packaging, the glass bottles segment held the largest share in 2021, accounting for nearly four-fifths of the global CBD wine market, and would rule the roost through 2031. Moreover, the same segment is estimated to witness the fastest CAGR of 27.8% during the forecast period. The report also offers an analysis of the cans segment.
Based on distribution channel, the offline segment was the largest in 2021, accounting for more than four-fifths of the global CBD wine market, and is likely to maintain its leadership status during the forecast period. The same segment is expected to manifest the highest CAGR of 27.9% from 2022 to 2031. The study also includes an analysis of the online segment.
Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global CBD wine market, and is likely to maintain its leadership status during the forecast period. However, the Asia-Pacific market is expected to manifest the highest CAGR of 31.6% from 2022 to 2031. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global CBD wine market analyzed in the research include Aurora Cannabis, Inc., Bodegas Santa Margarita, Callmewine, Cannavine, CryBaby Wine, Diageo, DrinkSipC, Heineken NV, Hempfy, Hexo Corporation, House of Saka, Lagunitas, Molson Coors Beverage Company,Rebel Wine.Co.UK, and Wines of Uruguay.
The report analyzes these key players of the global CBD wine market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
(This information is primarily sourced from Allied Market Research. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).