The global CBD-infused beverages market accounted for 260.5 Million in 2020 and is estimated to be US$ 2082.9 Million by 2029 and is anticipated to register a CAGR of 26.0%.
The report “Global CBD-Infused Beverages Market, By Type (Alcoholic and Non-alcoholic), By Application (Mass Markets, Storefront Dispensaries, Convenience Stores, and Online Stores), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029”.
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In 27 May 2020, Cannabis Global, Inc., a cannabinoid and hemp extract science-forward company developing infusion and delivery technologies, is excited to announce it has completed product development and has begun distribution of its unique tetrahydrocannabivarin (THC-V) coffee and tea products to product beta testers.
On 29 May 2020, Denver-based Carry, has launched sparkling CBD waters as well as a brand mission to normalize the pursuit of mental well-being.
Rising awareness of the health benefits of CBD beverages
Low sugar content in drinks is the major driving factor for the growth of this market. Also, consumers prefer these beverages as an alternative to cannabis smoking and consumption of marijuana-infused chocolates, cookies, brownies, and confectionaries like gummies and candies. Off-trade sales channels such as hotels, cafes, restaurants, clubs, and lounges are expected to boost the popularity of the product among consumers.
The rising awareness of health benefits of CBD products has elevated the growth of cannabidiol beverages market globally. CBD infused beverages are considered as a natural remedy for a variety of health conditions and are believed to treat varieties of health conditions including pain, anxiety, central nervous system disease and epilepsy. Rising awareness of the wellness of the products, preference for natural products over pharmaceutical products and a growing number of health-conscious consumers is driving the growth of the target beverage market. Moreover, potential customers of BVD beverages are more willing to spend on legal CBD products especially by baby boomers.
Growing cannabidiol industry
CBD-infused beverages market is expected to reach $1,018.3 million by 2025. Market growth is largely attributed to the increasing legalization of cannabis for medical and recreational purposes. As a result, many alcohol giants are investing a significant amount in the growing trend for cannabis-infused drinks.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global CBD Infused Beverages Market”, By Type (Alcoholic and Non-alcoholic), By Application (Mass Markets, Storefront Dispensaries, Convenience Stores, Online Stores), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global CBD-infused beverages market accounted for260.5 Million in 2020 and is estimated to be US$ 2082.9 Million by 2029 and is anticipated to register a CAGR of 26.0%. The market report has been segmented on the basis of type and application.
Depending upon type, the non-alcoholic segment is projected to grow at highest CAGR over the forecast period. The global market has exhibited a robust popularity of low and no-alcoholic drinks that have helps to reduce calories along with nutritional superiority. The current trending of these beverages category is primarily driven by private-label brands and start-ups which have great impact on therapeutic benefit of cannabidiol and developing products.
On the basis of application the CBD-infused beverages market is divided into mass markets, storefront dispensaries, convenience stores, and online stores. These beverages have showed rapid demand over e-commerce channel because of enhanced convenience, privacy, and autonomy for the choice of the products.
By region, North America is estimated to be the fastest and largest market over the forecast period. The growth is majorly driven by the legalization of marijuana for medical and recreational purposes. As per the National Conference of State Legislatures, a total of 33 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands have approved publicly available medical cannabis programs, resulting in the increased launch of several cannabis drinks.
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The prominent player operating in the global CBD infused beverages market includes California Dreamin’, Cannabiniers, Canopy Growth Corporation, Daytrip Beverages, Forest Coffee Trading Co., G&Juice, Honeydrop Beverages Inc., K-Zen Beverages Inc., Lagunitas Brewing Company, New Age Beverages Corporation, Phivida Holdings Inc., Puration Inc., Sprig, The Alkaline Water Company Inc., UbU Beverages Ltd.
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