Global Cannabis Beverage Market is estimated to be valued at US$ 364.8 Million in 2021, according to the Global 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, Specialty, and Online Retail), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global cannabis beverage market was valued at US$ 364.8 Million in 2021 and is expected to register a CAGR of 22.5% over the forecast period (2022–2030). The North America region is expected to dominate market over the forecast period and is projected to be the largest and fastest-growing region.
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Browse 50 market data tables* and 40 figures* on "Global Cannabis Beverage Market” - Forecast to 2030.
Key Trends and Analysis of the Global Cannabis Beverage Market:
- The Cannabis beverage market growth is highly regulated by various key players across the world. Dynamic competitive and untapped market structures have been present in the global cannabis beverage market. Market is also showcasing extensive investment by key players in the production and supply of raw materials for developing innovative and novel beverages.
- For instance, in February 2019, Heineken, a Dutch brewing company had introduced a drink Hi-Fi Hops which was made with marijuana. Hi-Fi Hops contains no alcohol, instead, its active ingredient is THC (tetrahydrocannabinol), a psychoactive ingredient that causes a headache. This move is part of Heineken’s strategy to enter the cannabis industry.
Key Takeaways of the Global Cannabis Beverage Market:
- Among product type, Non-Alcoholic dominated the global cannabis beverage market in 2021. Non-Alcoholic segment was followed by Alcoholic in terms of revenue share, respectively.
- Among region, North America dominated the global cannabis beverage market with a significant share in 2021 in terms of revenue.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global cannabis beverage market.