Cannabis Beverage Market Projected to Witness Vigorous

Cannabis Beverage Market

The global cannabis beverage market was valued at US$ 205 million in 2018, and is expected to exhibit a CAGR of 38.3% over the forecast period (2019-2027), to reach US$ 2743.7 million by 2027.

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

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On the basis of region, North America dominates the global cannabis beverage market with a significant share in 2018 in terms of revenue. In 2018, the U.S. legalized cultivation of hemp, which is obtained from the cannabis plant but contains lesser tetrahydrocannabinol (THC) content, by implementation of the 2018 Farm bill. This bill allowed broad cultivation of hemp and removed the restrictions on sale, transportation and possession of products which are derived from hemp. This is expected encourage companies to launch new products in the region.

Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is likely to promote the growth of the global cannabis beverages market. 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 the 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.

Major players operating in the global cannabis beverage market include MedReleaf Corp., Cronos Group Inc., GW Pharmaceuticals, Plc., CannTrust Holdings Inc., VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, The Supreme Cannabis Company, and SK Rodnik.

Detailed Segmentation:

Global Cannabis Beverage Market, By Product Type:
Marijuana Tea
Cannabis Soda
Cannabis Coffee & Cold brew

Global Cannabis Beverage Market, By End-Use:
Restaurants & Cafes

Global Cannabis Beverage Market, By Distribution Channel:
Convenience Stores

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