The adoption of the cannabis beverages market is expected to increase at a CAGR of 17.00% during the forecast period. The cannabis beverages market size is anticipated to rise from US$ 1,227.3 Million in 2023 to US$ 5,899.5 Million by 2033.
For a long time, cannabis was mostly used for medicinal purposes. However, in recent years, marijuana use has expanded to include consumable drinks such as cannabis-based beverages.
Cannabis beverage companies have entered the market to meet the growing demand for CBD products. Taking illegal consumption into account, recreational cannabis use is far superior to medicinal cannabis use.
Due to general public efforts to legalize marijuana for both medical and recreational uses, the industry's interest in CBD-based products has soared. Cannabidiol (CBD)-infused beverages are becoming more and more well-liked among consumers because of their non-psychoactive effects.
Furthermore, users prefer these beverages over marijuana smoking and the consumption of cannabis-infused brownies, cookies, chocolates, and confectioneries. Clubs, hotels, restaurants, cafés, and lounges are examples of off-trade sales channels that are likely to raise client interest in the product. While the sector has so far been able to function within the odd, frequently obscure regulations governing the production, marketing, and sale of its products, state and federal laws have significantly impeded growth. Since laws differ so greatly from state to state, all company functions, including logistics and fundraising, are more complex in this industry.
| Attribute | Details |
|---|---|
| Cannabis Beverages Market Estimated Size (2023) | US$ 1,227.3 Million |
| Cannabis Beverages Market CAGR (2023 to 2033) | 17.00% |
| Cannabis Beverages Market Forecasted Size (2033) | US$ 5,899.5 Million |
Declining sales of alcohol and soft drinks reflect a shift in customer taste for beverage use. Alcohol businesses are refocusing on marijuana in order to get a larger market share through Research and Development spending and the introduction of new products.
Despite the fact that millennials are the primary consumers of cannabis-infused products, Gen Z is quickly catching up due to the health benefits offered by these components.
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Consumers concerned about their health are becoming increasingly Cali sober, a term that sounds antiquated but describes replacing alcohol intake with "less damaging" substitutes like cannabis. Alcohol makers should know that the cannabis-infused beverage sector primarily emphasizes wellness and health in their product promotion. Industry leaders are taking advantage of cultural shifts that make many consumers reevaluate their consumption of alcohol, sugar, and other substances. Marketing teams promote cannabis-infused beverages as a "health option" that can aid in improved sleep and relaxation because they lack alcohol and frequently have few calories.
There is a significant increase in demand for cannabis-infused beverages via e-commerce platforms that offer a high degree of autonomy, privacy, and accessibility in product selection. Cannabis sales have increased from regulated dispensaries, opening up many opportunities for specialized retailers to present delicious and creative drinks infused with some active principles from cannabis. Furthermore, these distribution channels intend to serve as the go-to place for cannabis-based edibles and aid their growth.
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Cannabis users are no longer satisfied with smoking flowers with joints, bongs, or pipes; instead, they have a growing preference for new products, including concentrated and infused items. As a result, the beverage sector is going through a necessary shift.
Customers, especially those in the developed markets of North America and Europe, are consistently establishing the category of organic and chemical-free, as well as detectable and herbal formulation trends and advancements. This is expected to support the market for cannabis beverages in the coming years.
Cannabis beverages with CBD as an ingredient saw the most substantial rise of 17.8% in 2021. Due to CBD's non-psychoactive qualities, the demand is also anticipated to increase over the projected time. Drinks containing CBD have fewer psychotropic side effects, increasing their potential for treatment in medical conditions. Like the probiotic kombucha, many customers are exploring CBD beverages as wellness and anti-inflammatory goods.
In 2023, it is anticipated that non-alcoholic cannabis beverages could represent the most significant and fastest-growing market as customers invest more in wellness drinks. The demand for non-alcoholic cannabis beverages is also increasing as more people have opened to trying new flavors and edibles. Non-alcoholic cannabis-infused beverages such as teas, drops, elixirs, water, carbonated beverages, energy drinks, lemonade, and fruit drinks are more popular among customers looking for healthy beverages.
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The largest market share for cannabis beverages is held by North America, which also commands the top spot in the industry. In 2020, this region was expected to generate US$527.83 Million. The functional beverage market in the USA dominated the industry, where a sharp growth curve is exhibited.
The regional market's rapid growth can be attributed to rising consumer demand for these beverages. According to the Cannabis Trade Association, many regional businesses are working to develop new products to meet the growing demand for wellness beverages. Marijuana-friendly restaurants and cafes in the Netherlands are also expected to contribute to demand opportunities. A noticeable increase in cannabis tourism across the country is expected to boost demand for these products even more. The European market is expected to account for 41% of the global platform in the coming years.
Cann, a Cannabis-infused Beverage Company, Sells 150,000 Units and Raises US$ 5 Million in Funding
Cann, a cannabis beverage firm that positions itself as a pleasant substitute for alcohol, is increasing funding as it introduces the product to Canada, its first venture into the foreign market. The company offers a wide range of products, some of which are only available in certain areas. These products include THC-infused syrups, which can be combined with tonic water or used as a component in cannabis cocktails.
Of course, Cann is constrained in what markets it can enter by more general cannabis regulation. Currently, the firm offers its goods in Illinois, Massachusetts, Nevada, California, and Massachusetts. Their debut in the Ontario market marks the beginning of their expansion into Canada.
The dominant competitors in the market employ various strategies to strengthen their position as the industry's top businesses. One such effective strategy is acquiring companies to increase brand value among consumers. Intermittently offering ground-breaking products after thoroughly analyzing the market and its target audience is another crucial tactic.
For instance, Molecule Holdings Inc. launched Molecule Crafted, a line of specialty beverages with cannabis infusions, in Canada in April 2021. These cannabis beverages have few calories and come in exotic and potent flavors.
Latest Developments in the Cannabis Beverages Market
In August 2021, Cann, a California-based producer of THC beverages, announced the release of Passion Peach Mate, a unique and exclusive caffeinated cannabis beverage. The producer created this line of products to give consumers who are looking for alternatives to alcoholic beverages all-natural caffeine with a trace amount of THC.
Cannabidiol, or CBD as it is more commonly known, is a substance derived from cannabis that Coca-Cola Inc. (COKE) is considering incorporating into functional wellness beverages around the world. According to a preliminary study, CBD provides considerable medical benefits for treating neurological illnesses. Additionally, it is non-psychoactive, which means that it has no adverse effects on one's awareness of their surroundings.
Constellation Brands (STZ), the company behind the best-selling Corona and Modelo beers, entered the cannabis market last year by purchasing a 10% interest in Canopy Growth Corp., the country's most prominent cannabis producer (CGC). The beer business reportedly intends to create cannabis-infused beverages.
Two further breweries have joined the cannabis movement. Heineken, a Dutch brewer, introduced Hi-Fi Hops through its Lagunitas American brand, which is sold at a few California medicinal marijuana clinics. The beverage, which has a beer-likEflavor, substitutes tetrahydrocannabinol (THC), a psychoactive component of cannabis, for alcohol.
The Molson Coors Brewing Company (TAP), based in Denver, has teamed with the Canadian brand Hydropothecary. Following legalization, both businesses intend to "pursue chances to manufacture non-alcoholic, cannabis-infused beverages for the Canadian market."
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 17.00% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ Million and Volume in Units and F-CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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The global Cannabis Beverages market is estimated to be valued at US$ 1,227.3 Million in 2023.
The Cannabis Beverages market is likely to grow at a CAGR of 17.00% from 2023 to 2033.
The Cannabis Beverages market is projected to reach a valuation of US$ 5,899.5 Million by 2033.
North America is projected to lead the global Cannabis Beverages market by 2033.
1. Executive Summary | Cannabis Beverages Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Litres) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Type, 2023 to 2033
5.3.1. Alcoholic
5.3.2. Non-Alcoholic
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Component, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Component, 2023 to 2033
6.3.1. Cannabidiol (CBD)
6.3.2. Tetrahydrocannabinol (THC)
6.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Litres) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Litres) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa(MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Type
8.2.3. By Component
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Type
8.3.3. By Component
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Type
9.2.3. By Component
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By Component
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Type
10.2.3. By Component
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Component
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Type
11.2.3. By Component
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Component
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Litres) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of Middle East and Africa(MEA)
12.2.2. By Type
12.2.3. By Component
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Component
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Type
13.1.2.2. By Component
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Type
13.2.2.2. By Component
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Type
13.3.2.2. By Component
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Type
13.4.2.2. By Component
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Type
13.5.2.2. By Component
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Type
13.6.2.2. By Component
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Type
13.7.2.2. By Component
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Type
13.8.2.2. By Component
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Type
13.9.2.2. By Component
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Type
13.10.2.2. By Component
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Type
13.11.2.2. By Component
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Type
13.12.2.2. By Component
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Type
13.13.2.2. By Component
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Type
13.14.2.2. By Component
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Type
13.15.2.2. By Component
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Type
13.16.2.2. By Component
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Type
13.17.2.2. By Component
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Type
13.18.2.2. By Component
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Type
13.19.2.2. By Component
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Type
13.20.2.2. By Component
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Type
14.3.3. By Component
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. The Alkaline Water Company
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Phivida Holdings Inc.
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Koios Beverage Corporation
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Dixie Brands Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Keef Brand
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Hexo Corp.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. MedReleaf Corp.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Vivo Cannabis Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Canopy Growth
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Aphria Inc.
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
15.1.11. GW Pharmaceutical, PLc.
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.11.5.2. Product Strategy
15.1.11.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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