Europe cannabis beverage market is rapidly growing, with countries legalizing the recreational use of marijuana. This growth has led to a significant increase in the availability of cannabis-infused beverages. According to Future Market Insight (FMI), Europe cannabis beverage market is estimated to hold 41% of share in global cannabis beverages market during the forecast period (2023-2033).
The global cannabis beverages market is anticipated to reach a valuation of US$ 5,899.5 Mn by 2033. Increasing demand for organic and natural beverages will drive the demand for cannabis beverages in Europe. Consumers are increasingly looking to buy healthy and sustainable products, including cannabis beverages that are free of artificial additives and preservatives.
Organic cannabis beverages are a great option for those looking for a safe and natural way to enjoy cannabis. These drinks provide a variety of health benefits, such as better digestion, improved mental clarity, and high energy levels. Many organic cannabis beverages also contain vitamins, minerals, and antioxidants that can help to promote overall well-being.
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Moreover, organic cannabis beverages are becoming popular due to their sustainability factor. Companies are experimenting with interesting combinations to create organic and chemical-free beverages that stand out from other types of drinks on the market. This is helping to drive demand for organic cannabis beverages as consumers seek out new and exciting experiences.
Organic cannabis beverages have a lot of potential in Europe market and are a major driver of growth for the industry as demand continues to increase. Companies are looking to capitalize on this trend by producing more organic and natural drinks that meet consumer demands for healthy and sustainable products.
In February 2020, Bevcanna Enterprises, a maker of CBD-infused beverages, announced that it will start a joint venture in Europe with Vancouver-based cannabis startup Mota Ventures.
Key Takeaways from the Cannabis Beverages Market
- The cannabis beverages market in Europe is likely to witness a robust growth rate during the forecast period.
- K. cannabis beverages market is expected to witness healthy growth during the forecast period.
- This market growth for global cannabis beverages is estimated to surge at an astonishing CAGR of 17% between 2023 to 2033.
- Rising inclination towards organic and chemical-free beverages will drive the demand for cannabis beverages in Europe.
“Growing inclination towards organic and natural beverages in Europe will boost the demand for cannabis beverages. Hence, key players in the market are introducing organic and natural products to increase their customer base.”– Says an FMI Analyst.
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Competition Landscape in the Cannabis Beverages Market
Key players in the Europe cannabis beverages market are using numerous growth tactics to mark their position in the market. One main strategy used by these players is acquiring other companies to increase their market share. Another strategy is to introduce organic and natural products to gain competitive advantages.
Aphria Inc, Neuraxpharm, and Bevcanna Enterprises are the key companies in Europe cannabis beverages market.
Recent Developments
- In January 2019, Aphria Inc. acquired leading distributor of pharmaceutical goods and medicinal cannabis, CC Pharma GmbH to expand its product portfolio and strengthen its distribution network in Germany.
- In October 2022, the “Change for Health” campaign, launched by Neuraxpharm, a renowned European specialty pharmaceutical company, intends to improve patient, doctor, and pharmacy education while also broadening the acceptability of medicinal cannabis.
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Key Segments Covered in the Cannabis Beverages Market Report
By Type:
- Alcoholic
- Non-Alcoholic
By Component:
- Cannabidiol (CBD)
- Tetrahydrocannabinol (THC)
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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