The cannabis drinks market is rising as a consequence of increased legalisation and shifting consumer attitudes. Novel products that appeal to a variety of palates include waters boosted with CBD and beers laced with THC. Among the health benefits driving the estimated 37.3% CAGR growth to reach a US$ 8.3 billion valuation by 2032 are better sleep, weight loss, and less anxiety.
With the growing legalisation of cannabis and shifting consumer views, the market for cannabis drinks is growing at a rate never seen before. The market offers a broad variety of goods to accommodate various preferences and inclinations, such as sparkling waters flavoured with CBD and artisan brews loaded with THC. This quickly expanding industry is being driven by factors such as increased popularity, expanded methods of distribution, and health-related benefits.
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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).
Additionally, it is anticipated that as the usage of cannabis for the treatment of cancer, epilepsy, cancer, and pain will increase, so will the demand for cannabis drinks. Similar to this, the sector benefited from the legalisation of cannabis for medical or recreational purposes.
As a result, a number of top cannabis beverage companies have significantly increased their product offerings, increasing both the diversity and quantity of options for consumers. Through 2022 and beyond, this is predicted to more than 20x the demand for cannabis drinks.
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.
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:
- 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:
- 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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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