Cannabis Beverages Market Gains Momentum With Legislative Breakthroughs
Zion Market Research has published a new report titled “Cannabis Beverages Market by Type (Alcoholic Cannabis Beverages and Non-Alcoholic Cannabis Beverages), by End-Use (Household and HoReCa), and by Distribution Channel (B2B and B2C): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global cannabis beverages market was valued at approximately USD 1,613 million in 2018 and is expected to generate around USD 4,464 million by 2025, at a CAGR of around 15.6% between 2019 and 2025.
Cannabis or marijuana is a budding plant, also known as hemp, belongs to the family of Cannabaceae. For a long time, marijuana was used as a foundation for hemp fiber and oil, which are used for therapeutic purposes and as psychoactive drugs. Currently, the use of cannabis has been extended to consumable drinks called cannabis beverages or drinks. Cannabis beverages are gaining popularity in the market due to the rising demand for wellness beverages by the consumers. This is the primary factor likely to fuel the global cannabis beverages market over the estimated timeframe. Low sugar content, clean ingredients, and an appropriate quantity of cannabis are attracting cannabis smokers toward cannabis beverages, which, in turn, is projected to further drive the global cannabis beverages market in the future. A study revealed that the revenue from the sales of cannabis beverages can outdo the overall demand for cannabis products in the future.
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The global cannabis beverages market is segmented by type, end-use, and distribution channel. By type, the market is segmented into alcoholic and non-alcoholic beverages. The alcoholic cannabis beverages market is further segmented into cannabis-infused beers, cannabis-infused spirits, cannabis-infused wines, and others. The non-alcoholic cannabis market is further segmented into marijuana tea, marijuana elixirs, cannabis soda, and cannabis coffee and cold brew. The non-alcoholic cannabis beverages held the largest share in the global market in 2018, due to the growing demand for smoke-free cannabis and the legalization of cannabis for recreational use.
By end-user, the global cannabis beverages market is categorized into household and HoReCa. The HoReCa (Hotel/Restaurant/Café) segment held the largest share in the global cannabis beverages market in 2018, whereas the household segment is expected to register a higher rate of growth in the upcoming years. The various regulations on the consumption of cannabis beverages are likely to further contribute toward the growth of the HoReCa segment globally. The limited restaurant or hotels serve beverages that contain cannabis in countries that have legalized cannabis.
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By distribution channel, the cannabis beverages market is segmented into B2B and B2C (convenience stores, hypermarkets, specialty stores, online stores, and others). The B2C distribution channel held the major market share globally in 2018.
By region, North America held the major share of the global market in 2018 and is estimated to dominate over the forecast period as well. The growing spending on cannabis beverages is expected to propel this regional market’s growth. Europe is anticipated to hold the second position in the global cannabis beverages market in the future, owing to the rising investment for cannabis beverages and growing awareness.
Some key players of the global cannabis beverages market are Beverages Trade Network, Coca–Cola, Lagunitas, The Alkaline Water Company, New Age Beverages Corporation, COALITION BREWING, Dutch Windmill Spirits, Heineken, Klosterbrauerei Weißenohe, SK Rodnik, Koios Beverage Corporation, The Supreme Cannabis Company, General Cannabis Corporation, Heineken, Coalition Brewing, Bhang Corporation, and Cannabis Energy Drink.
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This report segments the global cannabis beverages market into:
Global Cannabis Beverages Market: Type Analysis
- Cannabis-Infused Beers
- Cannabis-Infused Spirits
- Cannabis-Infused Wines
- Marijuana Tea
- Marijuana Elixirs
- Cannabis Soda
- Cannabis Coffee and Cold Brew
Global Cannabis Beverages Market: End-Use Analysis
Global Cannabis Beverages Market: Distribution Channel Analysis
- Convenience Stores
- Specialty Stores
- Online Stores
Global Cannabis Beverages Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific