Cannabis Beverage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Alcoholic, Non-Alcoholic), By Component (Cannabidiol (CBD), Tetrahydrocannabinol (THC)), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Online, Others), By Region, By Competition, 2018-2028
Published Date: October - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 964.5 Million |
| CAGR (2023-2028) | 4.7% |
| Fastest Growing Segment | Non-Alcoholic |
| Largest Market | North America |
Market Overview
Global Cannabis Beverage Market was valued at USD 964.5 Million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.7% through 2028. The expansion is predicted to be fueled by the rising demand for wellness beverages. Additionally, the product's low sugar content and the existence of a suitable amount of cannabis for consumption are the elements anticipated to increase product demand. Cannabis-infused beverages should become more popular as more nations legalize the use of marijuana for both medical and recreational purposes.
We're seeing the cannabis drinks market take off, and it looks like that's because more and more people are using cannabis to help with things like neurological disorders, cancer, and managing pain. All those different ways cannabis can be used? That's creating tons of opportunities for the industry to grow. Plus, there's more buzz about cannabis edibles in general. People are moving away from just smoking cannabis and exploring other options like beverages, tinctures, and even chocolates! It seems like folks are more interested in concentrated and cannabis-infused goodies, which should really help the market expand. In fact, cannabis drinks might even start replacing other marijuana-infused snacks, especially those less healthy treats like gummy bears, brownies, and chocolates. So yeah, expect to see a bigger demand for cannabis drinks moving forward. This is going to be huge!
Looks like the cannabis beverage market is set to boom! You'll likely start seeing these drinks pop up everywhere – from hotel bars and cozy cafes to buzzing restaurants and even your favorite LGBTQ+ clubs. Why the surge? Well, people are switching things up, drinking less alcohol and sugary sodas. Smart alcohol companies are noticing this trend and jumping on the marijuana bandwagon, pumping money into research and development to create new and exciting cannabis-infused drinks. Take Lagunitas, Heineken's super popular beer brand in California, for example. They've already launched Hi-Fi Hops, a cannabis beverage with zero calories and carbs, infused with both CBD and THC!
Additionally, a rise in demand is anticipated throughout the anticipated period due to CBD's non-psychoactive qualities. Drinks containing CBD have a wider range of potential medical applications because they don't have any psychotropic side effects. Like the probiotic beverage kombucha, many customers view CBD beverages as items that promote wellness and reduce inflammation. This beverage may be used to treat conditions affecting the central nervous system as well as chronic pain, anxiety, and substance use disorders. These elements are anticipated to increase product adoption, which will lead to the segment's growth.
Key Market Drivers
Legalization and Regulatory Frameworks
The primary driver behind the rapid expansion of the cannabis beverages market is the ongoing legalization of cannabis in various regions across the globe. Historically, cannabis faced strict legal restrictions in many countries, limiting its market potential. However, changing attitudes towards cannabis and a growing body of research supporting its potential health benefits have led to widespread legalization efforts.
One of the key factors driving this market is the establishment of clear regulatory frameworks. Legalization and regulations are crucial because they provide a structured environment for the production, distribution, and sale of cannabis-infused products, including beverages. These regulations ensure consumer safety, quality control, and labeling standards, thus building trust among consumers.
As more countries and states legalize cannabis for both medical and recreational purposes, companies within the cannabis beverages market have greater access to larger customer bases. This legal acceptance has significantly reduced the stigma associated with cannabis consumption, making it more mainstream and appealing to a broader range of consumers.
However, regulatory challenges still exist, with variations in laws and regulations from one jurisdiction to another. Companies operating in the cannabis beverages market must navigate these complex regulatory landscapes, which can be both time-consuming and costly. Nevertheless, as more regions embrace cannabis legalization, the overall growth trajectory of the market remains positive.
Health and Wellness Trends
Another major driver of the cannabis beverages market is the increasing focus on health and wellness among consumers. As people seek alternatives to sugary and alcoholic beverages, the demand for functional and healthier options has surged. This trend has created a fertile ground for cannabis-infused beverages, which are often marketed as a more natural and health-conscious choice.
Cannabis beverages offer several health-related advantages. First, they allow for precise dosing, enabling consumers to control their cannabinoid intake more effectively. This precision is especially important for those seeking the therapeutic benefits of cannabis without the psychoactive effects. Second, cannabis beverages can be formulated with additional beneficial ingredients such as vitamins, antioxidants, and adaptogens, enhancing their appeal to health-conscious consumers.
Okay, so this whole wellness thing has even sparked a bunch of new CBD drinks – you know, the ones with cannabidiol? They don't get you high or anything, but people say they can help chill you out when you're anxious, ease aches and pains, and just make you feel more relaxed. As more people realize what CBD can do, these CBD-infused beverages are becoming a super easy way to sneak those good vibes into your day. And get this, the cannabis drinks market is even seeing more low-calorie and sugar-free choices popping up! Perfect for those of us watching our sugar and calories. It all just fits right in with wanting to be healthier and take care of ourselves, right? People are definitely choosing products that help them feel good overall.
Overall, the growing emphasis on health and wellness is driving consumers to explore cannabis beverages as a healthier and more controlled way to experience the potential benefits of cannabis.
Social Acceptance and Changing Consumption Habits
Changing social attitudes and consumption habits represent a significant driver of the cannabis beverages market. Traditional methods of cannabis consumption, such as smoking and vaping, are often stigmatized or discouraged due to health concerns associated with inhaling smoke or vapor. Cannabis beverages offer a more socially acceptable and discreet alternative, allowing individuals to consume cannabis without the negative perceptions associated with smoking.
This shift in consumption habits is particularly pronounced among older demographics and new cannabis users who may be more hesitant to try traditional forms of consumption. Cannabis beverages provide a familiar and approachable way to enter the cannabis market, appealing to a broad spectrum of consumers.
Plus, places like cannabis-friendly lounges and events are popping up, and they're definitely fueling the buzz around cannabis drinks. These spots offer a chill, supervised setting to try cannabis in different forms, especially drinks, while hanging out with like-minded people. As the cannabis hospitality scene takes off, so does the market for these beverages – you'll often find them front and center at these venues. And let's not forget how easy and portable cannabis drinks are; that makes them super appealing for people with busy lives. Think CBD-infused sparkling water after hitting the gym or a THC-infused drink to unwind at night. These products? They're made to slide right into our modern, always-on-the-go lifestyles.
In conclusion, the increasing social acceptance of cannabis and the changing patterns of consumption are driving the cannabis beverages market to new heights. As cannabis becomes more integrated into everyday life, beverages offer a convenient and socially acceptable way for consumers to incorporate cannabis into their routines.
Key Market Challenges
Regulatory Complexities
One of the most significant challenges facing the cannabis beverages market is the intricate and evolving regulatory landscape. Cannabis regulations vary significantly from one jurisdiction to another, and they are subject to frequent changes as policymakers grapple with issues related to legalization, taxation, product labeling, and consumer safety.
In regions where cannabis is legal, there is often a patchwork of regulations that apply specifically to cannabis-infused products, including beverages. These regulations can pertain to dosage limits, packaging requirements, marketing restrictions, and even the types of ingredients that can be used. Navigating this complex regulatory environment requires a deep understanding of local laws and a willingness to adapt quickly to any changes.
Furthermore, the federal legality of cannabis in many countries remains a contentious issue. In the United States, for example, cannabis remains illegal at the federal level, even though many states have legalized it for medical or recreational use. This conflict between federal and state laws creates uncertainty for businesses operating in the cannabis beverages market, particularly in terms of banking, taxation, and intellectual property protection.
The regulatory challenges also extend to international trade, where differing regulations and attitudes towards cannabis create barriers for businesses seeking to expand into global markets. Harmonizing regulations on an international scale is a complex and time-consuming process, hindering the ability of cannabis beverage companies to enter new markets.
Consumer Education
Consumer education is a pivotal challenge in the cannabis beverages market. While cannabis-infused beverages offer an alternative to traditional methods of consumption, many consumers lack sufficient knowledge about dosage, effects, and responsible use. This knowledge gap poses potential risks, as improper use could lead to adverse experiences or overconsumption.
Unlike well-established products such as alcohol or caffeine-containing beverages, cannabis-infused beverages are relatively new to the mainstream market. Therefore, consumers may not fully understand the differences between various cannabinoids, such as THC (tetrahydrocannabinol) and CBD (cannabidiol), and their potential effects on the body and mind.
Moreover, dosing can be a complex issue. Cannabis beverages must be formulated with precise and consistent dosages to ensure that consumers can control their intake. Variability in dosing can lead to unpredictable effects, which could deter consumers from trying cannabis beverages or lead to unintended consequences. In addition to educational initiatives, clear and standardized labeling is vital. Labels should provide information about the cannabinoid content, dosage per serving, and recommended serving sizes. Transparent and easily understandable packaging helps consumers make informed choices and reduces the likelihood of misuse.
Key Market Trends
Rising Popularity of CBD-Infused Beverages
One of the most prominent trends in the cannabis beverages market is the increasing popularity of CBD-infused beverages. CBD (cannabidiol), a non-psychoactive compound found in cannabis, has gained widespread recognition for its potential health and wellness benefits. Consumers are turning to CBD-infused beverages as a convenient and enjoyable way to incorporate CBD into their daily routines.
CBD beverages come in various forms, including sparkling waters, teas, coffees, and even sports drinks. These products cater to different preferences and lifestyles, making them accessible to a broad consumer base. Many consumers view CBD as a natural remedy for anxiety, stress, pain, and inflammation, driving the demand for these beverages.
Moreover, CBD-infused beverages are often marketed as a healthier alternative to sugary and alcoholic drinks, appealing to consumers who are increasingly health-conscious. The trend toward "functional beverages" that offer specific health benefits further supports the growth of CBD-infused beverages.
Another factor contributing to the popularity of CBD beverages is the relative ease of regulation. Unlike THC (tetrahydrocannabinol), the psychoactive compound in cannabis, CBD is legal in many regions and is not subject to the same stringent regulations. This makes it more accessible to both consumers and producers. As the CBD market continues to evolve, companies are innovating with new formulations, flavors, and dosage options to meet consumer preferences. Furthermore, partnerships between CBD brands and established beverage companies are becoming more common, signaling the mainstream acceptance and potential for further growth in this segment.
Innovative Delivery Methods and Formulations
Innovation in delivery methods and formulations is a driving force in the cannabis beverages market. Companies are continually exploring new ways to enhance the consumer experience, increase product efficacy, and reduce onset times. One notable innovation is the use of nanoemulsion technology, which allows for the creation of water-soluble cannabinoid particles. This technology increases the bioavailability of cannabinoids, making them more effective when ingested. Consumers can expect faster onset times and more predictable effects from products that incorporate nanoemulsion technology.
We're also seeing some cool new drinks hitting the market that mix different cannabinoids like THC and CBD in just the right amounts. These let you really fine-tune your experience, getting exactly what you want out of your cannabis. For instance, you can find drinks with a small amount of THC compared to CBD for chilling out without getting too high. Or, if you're after that euphoric feeling, there are options with more THC. But it doesn't stop there! Companies are also playing around with terpenes – those fragrant oils that give cannabis (and other plants) their amazing smells. Not only do terpenes affect the flavor and aroma, but they might also boost the overall benefits through something called the "entourage effect," where everything works together. So, keep an eye out for terpene-infused drinks; they're becoming a big deal for those who love the unique and complex tastes of cannabis.
Segmental Insights
Type Insights
Based on type, the market for cannabis drinks is divided into alcoholic and non-alcoholic beverages. Alcohol brewing businesses' growing involvement in adding THC and CBD to beer is projected to fuel the demand for alcoholic cannabis-infused beverages during the anticipated period. The demand is primarily driven by people who use both cannabis and alcohol. Cannabis consumers' high affinity for beer and alcoholic beverages is anticipated to support the segment's continued expansion in the years to come.
Get ready, because 2022 is shaping up to be the year of non-alcoholic cannabis drinks! Seriously, they're predicted to be the biggest and fastest-growing part of the whole cannabis market. Why? Well, people are grabbing more wellness drinks these days, which is boosting demand for these non-alcoholic options. Plus, more and more folks are just curious and willing to give them a try! We're talking teas, drops, elixirs, even infused water, sodas, energy drinks, and all sorts of fruity concoctions – all proving super popular with people searching for healthy drinks. And guess who's leading the charge? Female millennials! Companies are definitely noticing, and they're focusing on offering calorie-free drinks instead of, say, brownies and cookies. Even the big alcohol companies are getting in on the action, investing big time in developing their own non-alcoholic cannabis beverages.
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Regional Insights
The North American market is currently the largest market for cannabis beverages, followed by the European market. However, the market is expected to grow rapidly in other regions, such as Asia Pacific and Latin America, in the coming years. North America is estimated to be the fastest and largest market for cannabis beverages. The legalization of cannabis for medical and recreational purposes is a major factor driving growth. Europe is also estimated to witness significant growth over the forecasted period owing to the rising consumers in the region.
Additionally, local companies are introducing new products to keep up with the expanding wellness drink demand. For instance, the first CBD Session IPA beer made with Cannabis Sativa extract in the UK was launched by Manchester-based CBD Ultra and Cloud 9 Brewing. Due to the existence of marijuana-specific cafes and restaurants, demand is also high in the Netherlands. The country's expanding cannabis tourism industry is anticipated to significantly increase demand. The legalization of marijuana for medical and recreational use is expected to result in a considerable increase in product demand in nations like Australia and Uruguay.
Recent Developments
- In2020 - BevCanna Enterprises and Mota Ventures entered into a definitive jointventure agreement, under which Mota Ventures will now distribute BevCanna’shemp-derived cannabidiol products in the European market.
- In2021 - Cann, a Californian THC beverage manufacturer announced the launch ofPassion Peach Mate, first-of-its-kind caffeinated cannabis beverage. Themanufacturer launched this product line to offer all-natural caffeine withmicro dose of THC to the consumers as they seek alternatives to alcohol.
- In2021 - Molecule Holdings Inc., introduced Molecule Craftedâ„¢ cannabis-infusedcraft beverage range in Canada. These beverages are low in calories andavailable in various exotic and bold flavors.
Key Market Players
- Aurora Cannabis Inc.
- AphriaInc.
- CanopyGrowth Corporation
- MedReleafCorp.
- CronosGroup Inc.
- GWPharmaceuticals, plc.
- CannTrustHoldings Inc.
- VIVOCannabis Inc.
- Tilray
- OrganiGramHoldings
Report Scope
In this report, the Global Cannabis Beverage Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Cannabis Beverage Market, By Type
- Cannabis Beverage Market, By Component
- Cannabis Beverage Market, By Distribution Channel
- Cannabis Beverage Market, By Region
Competitive Landscape
Company Profiles
found at Customizations
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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