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Cannabis Infused Drinks Market

Cannabis Infused Drinks Market

Non-Alcoholic Cannabis Infused Drinks to Capture Major Cannabis Infused Drinks Market Share during 2021-2031

 Cannabis Infused Drinks Market
FACT3383MR
  • Aug-2021
  • List of Tables : 80
  • List of Figures : 80
  • 170 Pages
  • Food & Beverage

Market Snapshot

Newly released Fact.MR data projects that worldwide cannabis infused beverages market will see soaring growth in 2021, with revenues expected to top US$ 250 Mn. The forecast estimates that revenues will expand nearly 24x by 2031, surpassing nearly US$ 6 Bn, at a CAGR of nearly 38%.

Key Points Covered in Cannabis Infused Drinks Industry Survey

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Cannabis Infused Drinks Market and How to Navigate
  • Recommendation on Key Winning Strategies

Revenue Analysis of Cannabis Infused Drinks from 2016-2020 Vs Future Outlook 2021-2031

Cannabis-infused beverage businesses have entered the market to meet the rising demand for cannabis-infused goods. From 2016 to 2020, sales expanded at a CAGR of nearly 15% to clock US$ 250 Mn by 2020.

When illicit use is taken into account, recreational cannabis use is significantly superior to therapeutic cannabis use. Consequently, government initiatives to legalize recreational use in limited quantities is gathering pace, especially in the U.S.

According to Fact.MR’s projections, increasing recreational and therapeutic usage of cannabis is likely to propel demand for cannabis infused drinks in the forthcoming decade, expanding at around 38% CAGR until 2031.

Why is THC Emulsification Acquiring Importance in Cannabis Infused Drinks Manufacturing?

Manufacturers of cannabis-infused beverages are directing efforts into developing adequate THC emulsifications to achieve proper suspension within liquids and a shorter uptake period – typically less than 30 minutes.

This aligns with customer need for rapid feedback on their dosage, which will boost sales of cannabis-infused beverages. Leading beverage businesses have recognised the insatiable desire of customers within the cannabis culture, and have transitioned into the cannabis infused beverages sector.

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How are Purported Health Benefits Driving Market Growth?

Various health advantages, including enhanced sleep patterns, reduced weight gain, relief from depression and anxiety, regulated blood pressure, and others, are expected to drive global cannabis beverage growth throughout the projected period.

Furthermore, the increased use of cannabis for the treatment of neurological diseases, epilepsy, cancer, and pain relief is expected to increase demand for cannabis beverages.

Likewise, the legalisation of medicinal or recreational cannabis in certain places has had a substantial beneficial influence on the business. Over the last several years, governmental and private expenditures in research and development for a safer form of cannabis use have been another notable driving factor that has bolstered industry growth.

The number of firms functioning in this industry has increased noticeably, promoting the diversity and amount of items offered to end-users. Such product varieties are helping to raise market demand even further.

How are Regulatory Obstacles a Concern for Expansion?

Regulatory obstacles have persisted in the cannabis business for some time, but significant concerns that impede product clearance and introduction to the market include safety, testing, and labelling regulations, all of which have been continually updated in the recent past.

Re-labelling and testing of goods to ensure compliance with changing regulatory standards remains one of the most pressing concerns among cannabis infused beverages industry participants.

An Adaptive Approach to Modern-day Research Needs

How is Online Retailing taking the lead in Cannabis Infused Drinks Sales?

Cannabis infused beverages have demonstrated growing demand through E-commerce platforms, which provide increased convenience, privacy, and autonomy in product selection.

Cannabis sales from regulated dispensaries have increased, opening up a multitude of options for specialised retailers to present creative and appetizing drinks infused with active principles from cannabis. Furthermore, such distribution channels are intended to serve as the "go to place" for cannabis-based edibles, which are likely to gain momentum.

How is Cannabis-infused Non-Alcoholic Beer Gaining Traction?

Cannabis-infused non-alcoholic beer is a new trend that is likely to gain momentum as firms seek to cater to a health-conscious consumer base. Aplos, for instance, is a non-alcoholic spirit infused with CBD.

Similarly, CERIA Grainwave is a THC-infused non-alcoholic beer that debuted on dispensary shelves in December 2018. The beverage contains less than 0.5% ABV.

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Country Wise Insights

How Lucrative is the Market for Cannabis Infused Drinks in the U.S?

As recreational marijuana legalisation spreads across the U.S, demand in cannabis-infused beverages grows. In the U.S, the hemp and CBD category reached $1 Bn by 2020.

The country is anticipated to emerge as one of the largest cannabis beverage industry. Legalization of cannabis for medicinal, therapeutic, and recreational uses is propelling market development. Several states in the U.S have legalised the incorporation of cannabis infusions into food and drinks legal.

As per Fact.MR findings, the market for cannabis infused drinks in the U.S is poised to expand at a CAGR of nearly 10% across the upcoming decade.

How much is the European Market likely to Expand?

Europe is also expected to expand significantly throughout the predicted period due to rising consumer demand in the region. According to the Cannabis Trade Association, firms in the region are developing new products to keep up with the growing demand of wellness beverages.

The existence of marijuana-friendly cafés and restaurants has also helped to build demand in the Netherlands. The expansion of cannabis tourism in the nation is expected to raise demand even more. A market share of over 40% is projected for the European market.

How Opportunistic are the Markets in Asia?

Driven by an appealing demographic profile and a rising number of middle-to-upper income households, nations in the Asian cannabis-infused drinks market would exhibit high growth during the projected period.

India appears to generate highly lucrative growth opportunities. Rising disposable incomes combined with increased awareness about different types of fusion beverages is expected to incline demand. A CAGR of around 8% is projected for the Indian market.

Category Wise Insights

Why CBD Cannabis Infused Drinks are Still Mainstream?

Cannabis-curious beginner users who desire a discreet, accessible, and regulated dose of cannabis are driving up demand for CBD-based cannabis infused beverages, accounting for over 3 out of 5 sales.

Its non-psychoactive characteristic continue to garner more consumers for CBD infused beverages. With the ability to provide a "high" without the health concerns associated with smoking, CBD-based cannabis infused beverages are gaining popularity.

How are Non-Alcoholic Cannabis Infused Drinks Consumption Suring?

Given cannabis' potential to mimic the impact of alcohol with negligible calories and obvious health advantages, sales of non-alcoholic infused drinks are surging, capturing almost 50% of total demand.

The global market has seen a spike in the popularity of non-alcoholic beverages that are low in calories and high in nutritional value. The advent of this beverage category is largely driven by private-label companies and start-ups that are heavily leveraging the medicinal advantages of cannabis and producing products that would allow cannabis use in a socially acceptable, generally acknowledged, and convenient way.

Competitive Landscape

The competitive environment of the cannabis infused beverages industry remains tumultuous due to the uncertainty surrounding cannabis sales and use rules. The cannabis-infused beverages industry in Canada is anticipated to expand rapidly, thanks to favourable federal rules that support cannabis sales in the country.

Using new technologies and following trends in the mainstream beverage industries to create unique variations is anticipated to be a major strategy for producers looking to achieve a competitive advantage.

  • CAN is one of the simplest and most well-known Cannabis drinks. It contains a little quantity of Californian cannabis extract as well as carbonated water, aromatic oils, and agave juice. It includes around 2mg THC and 4mg CBD, which provides extremely regulated effects that are milder than other Cannabis beverages. It is accessible at a variety of dispensaries and may also be purchased online.
  • Likewise, Artet is a non-alcoholic beverage that combines cannabis sociability with cocktail culture in a one bottle. It comes in a variety of tastes, each with an incredible combination of herbal, flowery, and dry undertones. The full container contains around 37.5mg THC, divided between fifteen shots of 2.5mg THC each. It is the ideal Cannabis beverage for first-time users.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value and ‘000 Units for Volume

Key Regions Covered

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Market Segments Covered

  • U.S
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Brazil
  • Mexico
  • China
  • India
  • ASEAN
  •  GCC
  • South Africa
Key Market Segments Covered
  • Type
  • Component
  • Region

Key Companies Profiled

 

  • CAN  
  • Artet 
  • The Alkaline Water Company
  • Phivida Holdings Inc.
  • Koios Beverage Corporation
  • VCC Brands
  • Dixie Brands Inc.
  • Keef Brand
  • Hexo Corp
  • Aphria
  • Canopy Growth
Pricing

Available upon Request

Key Segments Covered

  • Type

    • Alcoholic Cannabis Infused Drinks
      • Cannabis Infused Alcoholic Beer
      • Cannabis Infused Wine
      • Cannabis Infused Spirits
    • Non-Alcoholic Cannabis Infused Drinks
      • Cannabis Infused Water/ Sparkling Water/ Functional Drinks/Soda
      • Cannabis Infused Tea
      • Cannabis Infused Coffee
      • Cannabis Infused Juices
  • Component

    • Cannabidiol (CBD) Infused Drinks
    • Tetrahydrocannabinol (THC) Infused Drinks

- FAQs -

According to Fact.MR, global demand for cannabis infused drinks clocked US$ 250 Mn in 2020

From 2016 to 2020, cannabis infused drinks demand accelerated at nearly 15% CAGR

The cannabis infused drinks market is expected to grow astronomically at 38% CAGR until 2031, surpassing US$ 6 Bn

Increasing efforts to legalize recreational cannabis usage is impelling cannabis infused beverage sales

The U.S is expected to grow at a CAGR of 10% across the 2021-2031 forecast period

Europe is anticipated to register around 40% of global cannabis infused drinks sales

As per Fact.MR, India is likely to register a CAGR of nearly 8% across the forthcoming decade

CBD infused drinks are expected to generate 60% of total sales by component

By type, non-alcoholic cannabis infused drinks are expected to account for over 50% of total demand

CAN, Artet, The Alkaline Water Company and VCC Brands are some leading manufacturers of cannabis infused drinks

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