Consumers preference for beverage are witnessing a shift from soft drinks to wellness drinks and this shift is expected to bolster the sale of cannabis beverage in the years to come. These drinks come with low sugar content, which make it ideal for consumption for many, particularly for the ones suffering from diabetes. This factor is likely to drive the growth of the global cannabis infused drinks market in the years to come.
In addition, consumers prefer cannabis infused drinks to direct cannabis smoking and consumption of marijuana-infused brownies, cookies, and chocolates. Various off trade sales channels, such as lounges, clubs, restaurants, cafes, and hotels are estimated to support growth of the global cannabis infused drinks market over the period of assessment.
Cannabis is a class of three different plants that comes with psychoactive characteristics. These three plants are Cannabis ruderalis, Cannabis indica, and Cannabis sativa. Cannabis is made by harvesting and drying the flowers of these plants. It goes by other names as well, such as marijuana, pot, and weed. The flourishing cannabis industry is likely to emerge as an important growth factor for the global cannabis infused drinks market over the period of analysis, from 2020 to 2030.
Product type, use, packaging, flavor, sales channel and region are the six important parameters based on which the global cannabis infused drinks market has been classified.
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Global Cannabis Infused Drinks market: Key Trends
The global cannabis infused drinks market is characterized by the presence of the following restraints, drivers, and opportunities.
Growing Use of Cannabis for Medicinal and Recreational Purposes to Bolster Demand
The growth of the global cannabis infused drinks market is likely to be driven by the growing popularity of wellness drinks. In addition, legalization of cannabis recreational and medical purposes has strongly impacted the sale of alcoholic drinks. As such, several alcohol producers are also making investment in the making of cannabis infused drinks to reap the benefit of this emerging trend.
The demand for cannabidiol based cannabis infused drinks has been witnessing a upward rise, particularly amongst the users who are looking for controlled. Convenient, and discreet dose of cannabis. Both cannabidiol cannabis and Tetrahydrocannabinol cannabis infused drinks come with considerable therapeutic and medicinal benefits, however, cannabidiol cannabis together with its non-psychoactive qualities are considered more attractive for its users. The sale of CBD-based cannabis infused drinks is estimated to be driven by its ability to make one high sans any health-related risk. All these factors are estimated to bolster expansion of the global cannabis infused drinks market over the period of assessment, from 2020 to 2030.
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Global Cannabis Infused Drinks market: Geographical Analysis
North America is regarded as one of the leading and rapidly growing regions in the global cannabis infused drinks market. Post legalization of use of cannabis for both recreational and medical purposes has propelled growth of the market in North America. Europe is likely to trail North America due to rapid rise in the number of consumers in Europe.
Global Cannabis Infused Drinks market: Notable Developments
One of the important market developments that give a quick view of the dynamics pertaining to the global cannabis infused drinks market is mentioned as below:
- In December 2018, CERIA Brewing launched its first THC-infused non-alcoholic beer, Grainwave.
Some of the prominent organizations in the global cannabis infused drinks market comprise the below-mentioned:
- Canopy Growth
- Koios Beverage Corporation
- New Age Beverages Corporation
- Phivida Holdings Inc.
- CERIA Brewing
- The Alkaline Water Company
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