Cannabis Drinks Market: Brewing Up a High-Flying Future with a Projected CAGR of 37.3% by 2032
Global Cannabis Drinks Market Set to Surge, Expected to Reach $8.3 Billion by 2032.
The global cannabis drinks market is set to witness growth at a CAGR of 37.3% and top a valuation of US$ 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).
Furthermore, demand for cannabis beverages is likely to rise as cannabis is increasingly used to treat neurological illnesses, epilepsy, cancer, and pain management. Similarly, legalising recreational or medicinal cannabis helped the industry.
As a result, numerous major companies working in the cannabis drinks market have expanded significantly, increasing the range and number of goods available to end users. This is predicted to increase demand for cannabis beverages by more than 20x by 2022 and beyond.
Key Takeaways from the Market Study
- The cannabis drinks market is worth of US$ 0.4 Bn sales in 2022 and expand at CAGR of 37.3% between 2022 and 2032.
- Global cannabis drinks demand is projected to grow year-on-year (Y-o-Y) growth of 20.2% 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 research 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 flavored), and sales channel (B2B / HoReCa and B2C), across seven major regions of the world.
Cannabis Drinks Market by Category
By Product Type, the 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
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.
