Cannabis Beverages Market Size, Industry Analysis Report By Product Type (Bakery Products, Chocolate, Cereal Bars, Candy, Beverages, Ice-Cream), By Distribution Channel (Mass Merchandisers , Specialty Store, Online Stores) & Region – Forecast
- PUBLISHED ON
- 15/12/2022
- NO OF PAGES
- 213
- CATEGORY
- Food & Beverages
The Cannabis Beverages Market is valued at around USD 1,227.3 million in 2022 and is expected to reach USD 5,899.5 million by 2030, registering a CAGR of 17% over the forecast period. Cannabis is a flowering plant that belongs to the Cannabaceae family and is frequently referred to as hemp. Cannabis has long been used as a source of hemp fibre and oil, and it is also recognised for its therapeutic benefits and potential as a mind-altering substance. Recently, the use has been expanded to include commonly consumed beverages known as cannabis drinks.
The Cannabis Beverages Market - Growth Factor
A growth indicator for the market for cannabis beverages will be consumers' increasing preferences for various alcohol substitutes. Cannabis-infused beverages are in high demand on e-commerce sites because they provide customers with a high level of autonomy, privacy, and product accessibility. Sales of cannabis from licenced dispensaries have increased, creating numerous opportunities for specialty retailers to offer enticing and inventive drinks infused with some of cannabis' active ingredients. Additionally, these channels of distribution want to promote cannabis-based edibles and become the ""go-to place"" for them.
The Cannabis Beverages Market – Market Trends
• Customers are consistently establishing the categories of organic and chemicals-free, as well as with detectable and herbal formulations trends and advancements, particularly those in the developed markets of North America and Europe.
• The growth is anticipated to be fuelled by the rising demand for wellness beverages.
• Additionally, the product's low sugar content and the presence of a suitable amount of cannabis for consumption are the factors anticipated to increase product demand.
• Cannabis-infused beverages should become more popular as more nations legalise the use of marijuana for both medical and recreational purposes.
The Cannabis Beverages Market – Segmentation
The Cannabis Beverages Market fragrance concentrates market has been sub-classified into product type, distribution channel.
On the basis of product type, the Cannabis Beverages Market is bifurcated into:
• Bakery products
• Chocolate
• Cereal bars
• Candy
• Beverages
• Ice-cream
• others
On the basis of distribution channel, the market is segmented into:
• mass merchandisers
• specialty store
• online stores
• others
The Cannabis Beverages Market –Regional Analysis
North America dominated the global Cannabis Beverages Market, which also holds the top position in the sector. This region was projected to produce US$527.83 Mn in 2020. The industry, which has a noticeable growth curve, was dominated by the functional beverage market in the United States.
The Cannabis Beverages Market – Key Market players
Global key players of Cannabis Beverages Market include The Alkaline Water Company; Phivida Holdings Inc.; Koios Beverage Corporation; VCC Brand; Dixie Brands Inc.; Keef Brand; Hexo Corp; Aphria; Canopy Growth, and others.
Report scope
Global Cannabis Beverages Market: Historical Years- 2018-2021
Global Cannabis Beverages Market: Forecast Years- 2022-2030
Global Cannabis Beverages Market 2022- USD 1,227.3 million
Global Cannabis Beverages Market 2030- USD 5,899.5 million
Global Cannabis Beverages Market CAGR- 17%
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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