We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published On : Sep 2022
  • Code : CMI3390
  • Pages :120
  • Formats :
      Excel and PDF
  • Industry : Food and Beverages

Cannabis beverages include different types of alcoholic and non-alcoholic beverages which are infused with cannabis or marijuana. Rising concerns regarding headache and calorie-intake among consumers has encouraged companies operating in the food & beverages industry to invest in production of cannabis infused drinks.

Global cannabis beverage market was valued at US$ 364.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 22.5% during the forecast period (2022 to 2030).

Drivers

Customers are gradually shifting towards cannabis from alcohol for recreational purposes, which is expected to drive growth of the global cannabis beverage market. Customers have shifted from smoking flowers using pipes, joints and bongs towards products such as infused edibles and concentrates which offer numerous options to choose from. The trends in consumption rate of alcohol and cannabis are diverging substantially in recent times. Growing consumer awareness regarding the hazardous effects of alcohol on human health has led to decrease in alcohol consumption among consumers. According to the U.S. National Survey on Drug Use and Health, during January to December 2020, 138.5 million people aged 12 or older used alcohol 17.3 million people aged 18 to 25 used alcohol, 119.2 million people aged 26 or older used alcohol.

Furthermore, the increasing number of collaborations among key players with the goal of launching cannabis beverages is expected to fuel growth of the global cannabis beverages market. For instance, In April 2020, Hexo Corp., a Canada-based producer of cannabis products, formed a joint venture with Molson Coors Brewing Co., a producer of non-alcoholic beverages. In addition to this, in January 2020, Imaginary, a U.S.-based venture capital firm, invested US$ 5.0 million in Cann, U.S based company engaged in production and distribution of cannabis infused beverages to increase distribution of cannabis-derived intoxicants.

The COVID- 19 outbreak had a considerable impact on the overall industry growth on account of the shutdown of various manufacturing & industrial facilities along with delays in several infrastructural development projects. However, government relaxations on imposed lockdowns, followed by the resumption of industries and operations have augmented the market growth.

On the basis of region, North America dominated the global cannabis beverage market with a significant share in 2021 in terms of revenue.

Figure 1. Global Cannabis Beverages Market Value Share (%), By Region, 2021

CANNABIS BEVERAGE MARKET

To learn more about this report, request a free sample copy

Market Restraints

Cannabis beverage offers THC (tetrahydrocannabinol) to the consumers which is not permissible in several developing as well as developed countries. Cannabis based beverages have exhibited comparatively lower growth in the developing regions such as Asia and Latin America, owing to the ban of THC products in market. However, growing awareness about the health benefits associated with consuming cannabis is anticipated to boost growth in these regions as well. In June 2022, after becoming the first Southeast Asian country to legalize marijuana for medical purposes in 2018, Thailand is to become the first Asian country to decriminalize recreational cannabis for personal use with relaxed regulations on allowing hemp extracts in food and beverages, and cosmetics.

Cannabis Beverage Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 364.8 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 22.5% Forecast Period: 2022-2030
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Alcoholic, Non-alcoholic
  • By End-Use: Household, Restaurants & Cafes 
  • By Distribution Channel: Convenience stores, Hypermarkets, Specialty stores, Online Retail
Companies covered:

MedReleaf Corp., Cronos Group Inc., Jazz Pharmaceuticals, Phoena Holdings, VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, Canopy Growth, and SK Rodnik.

Growth Drivers:
  • Customers are gradually shifting towards cannabis from alcohol for recreational purposes 
  • Increasing number of collaborations among key players for market growth
Restraints & Challenges:
  • Some regions have strict restrictions on products sales that restrict expansion of cannabis beverage market

Market Opportunities

Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is expected to provide lucrative opportunities for the market growth of cannabis beverages. Cannabis is used a medicinal drug, owing to various health benefits that it provides such as blood pressure control, improvement in sleeping patterns, and relief from anxiety and depression. Extensive research has been done by pharmaceutical companies to produce cannabis-based medicines and treatments which are safe for health and do not cause any harmful side effects to patients.

The cannabis extracts which are infused in beverages are mainly fat soluble i.e. they cannot dissolve in water. The key challenge for beverage manufacturers is to achieve proper mixing of cannabis extracts into the liquid and maintain the shelf-stability of the products. However, the fat-soluble nature of cannabis extracts means that its psychoactive effects are delayed and consumers end up consuming excessive quantities.

Figure 2. Global Cannabis Beverage Market Value Share (%), By Product Type, 2021

CANNABIS BEVERAGE MARKET

To learn more about this report, request a free sample copy

On the basis of product type, in 2021, Non-Alcoholic accounted for the largest market share in terms of revenue, followed by alcoholic.

Recent Developments

  • In August 2021, Cann, a THC (tetrahydrocannabinol) beverage manufacturer announced the launch of passion peach made first-of-its-kind cannabis infused caffeinated social tonic. The manufacturer launched this product line to offer all natural caffeine with micro dose of THC (tetrahydrocannabinol) to the consumers those who wants alternatives for alcohol.
  • In May 2021, Molecule Holdings INC., a Canada based craft-focused cannabis beverage production company introduced molecule crafted cannabis infused craft beverage portfolio in Canada. These beverages are low in calories and available in various exotic and bold flavours.
  • In November 2021, Molecule Holdings Inc., a Canada based craft-focused cannabis beverage production company launched Canajo, the coffee-flavoured cannabis beverage. This new product portfolio contains coffee-inspired flavours with an assortment of THC (tetrahydrocannabinol) and CBD (Cannabidiol) levels designed for the various variety of cannabis users.

Competitive Section

Major players operating in the global cannabis beverage market include MedReleaf Corp., Cronos Group Inc., Jazz Pharmaceuticals, Phoena Holdings, VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, Canopy Growth, and SK Rodnik.

Frequently Asked Questions

Global cannabis beverage market was valued at around US$ 364.8 Million in 2021.

Customers are gradually shifting towards cannabis from alcohol for recreational purposes, which  is mainly driving the market growth.

Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is expected to provide lucrative opportunities for the market.

Cannabis beverage offers THC (tetrahydrocannabinol) to the consumers which is not permissible in several developing as well as developed countries, which is expected to restrain the market growth.

Major players operating in the market include MedReleaf Corp., Cronos Group Inc., Jazz Pharmaceuticals, Phoena Holdings, VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, Canopy Growth, and SK Rodnik.

The market is estimated to grow at around 22.5% CAGR in the forecast period (2022-2030).

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo