The Cannabis Drinks Market is expanding at a rate never before seen, and consumer opinions are changing along with legalisation. The market offers cutting-edge goods for a variety of tastes and preferences, from CBD-infused sparkling waters to THC-infused artisan brews. This emerging sector is progressing because to growing acceptance, expanding distribution networks, and health-related advantages.
The global cannabis drinks market is set to witness growth at a CAGR of 37.3% and top a valuation of US$ 8.3 Billion 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).
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Additionally, it is anticipated that when cannabis is used more frequently to treat cancer, epilepsy, cancer, and pain, demand for cannabis drinks would rise. Similar to this, the cannabis sector gained when cannabis usage was legalised for either medical or recreational purposes.
Some of the leading cannabis beverage companies as a result significantly expanded the variety and breadth of their product offerings for consumers. This is expected to increase the demand for cannabis drinks by a factor of more than 20 through 2022 and beyond.
Key Takeaways from Market Study
- The cannabis drinks market is worth of US$ 0.4 Billion 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.
Competitive Landscape
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.
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Cannabis Drinks Market by Category
By Product Type, Cannabis Drinks Market is Segmented as:
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- 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
- Alcoholic Cannabis Infused 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:
-
- Unflavoured
- Flavoured
- Fruit
- Apple Cider
- Black Tea
- Butter
- Cappuccino
- Caramel
- Cheese
- Lemon
- Others
By Sales Channel, Cannabis Drinks Market is Segmented as:
-
- B2B / HoReCa
- B2C
- Hypermarkets /Supermarkets
- Food Specialty Stores
- Online Retail
- Others Retail Formats
By Region, Cannabis Drinks Market is Segmented as:
-
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Frequently Asked Questions
- How much worth is the cannabis drinks industry?
- At what CAGR is the market expected to expand through 2032?
- How was the performance of cannabis drinks over the past half-decade?
- What will be the market for cannabis drinks worth in 2032?
- Who are the key players operating in the market?
- What are the key factors affecting the cannabis drinks market growth
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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