The global cannabis beverage market was estimated to account for around US$ 205 million in 2018, according to Cannabis Beverage Market Report, by Product Type (Alcoholic (Beer, Spirits and Wine) and Non-alcoholic (Marijuana Tea, Cannabis Soda, and Cannabis Coffee & Cold brew)), By End-Use (Household, and Restaurants & Cafes), By Distribution Channel (Convenience stores, Hypermarkets, Supermarkets, and Online) and by Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) published by Coherent Market Insights.
The global cannabis beverage market is expected to reach US$ 2743.7 million by 2027, exhibiting a CAGR of 38.3% over the forecast period.
Cannabis is the most commonly used mood-altering drug which is consumed in various different ways. For instance, it can be inhaled through vapours, fused with food products, brewed in beverages, and others. In recent past, a rapid increase in mass appeal for cannabis has been witnessed among consumers around the globe. The support for legalization of cannabis use has gained substantial momentum recently owing to the growing recognition of medicinal benefits and various therapeutic applications of cannabis.
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Browse 45 market data tables* and 30 figures* on "Cannabis Beverage Market” - Global forecast to 2027.
Key Trends and Analysis of the Cannabis Beverage Market:
The rising health consciousness among consumers has led to a growth in demand for beverages with different nutritional and health benefits. Companies are focusing on development of cannabis beverage products owing to shifting preference of consumers towards beverages which are infused with bio-active compounds. According to the International Federation of Organic Agriculture Movements (IFOAM), the global sales of organic food and beverage was valued at US$ 90 billion in 2016. This scenario is expected to boost the growth of cannabis beverages market.
Cannabis beverages have emerged has a healthy alternative for consumption of cannabis. Unlike conventional methods such as fusion of cannabis in cookies or brownies, cannabis beverages possess lesser sugar content, proper quantity of cannabis and clean ingredients. These factors are expected to fuel the global cannabis beverages market growth over the forecast period.
Key Takeaways of the Market: