The booming Cannabis Drinks Market is set to hit $8.3 billion by 2032, riding a remarkable 37.3% annual growth fueled by expanding legalization, diverse products, and anticipated health benefits like improved sleep and anxiety reduction.
The Cannabis Drinks Market is experiencing unprecedented growth as legalization expands and consumer perceptions evolve. With innovative products ranging from CBD-infused sparkling waters to THC-infused craft beers, the market caters to diverse tastes and preferences. Rising acceptance, expanding distribution networks, and health-related benefits are driving this burgeoning industry forward.
By 2032, the cannabis drinks industry is expected to reach a worth of US$ 8.3 billion, growing at a compound annual growth rate (CAGR) of 37.3%. Over the course of the projection period (2022–2032), a number of health benefits, including better sleep patterns, weight loss, reduced anxiety and depression, and blood pressure regulation, are expected to boost the expansion of cannabis drinks globally.
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Furthermore, it is projected that demand for cannabis drinks would rise in tandem with the growing use of cannabis for the treatment of cancer, epilepsy, cancer, and pain. In a similar vein, the industry profited from the legalisation of cannabis for either recreational or medicinal uses.
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 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:
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
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