02-Jul-2021 | Facts and Factors
The global CBD-infused Beverages market was valued at around USD 3,400 Million in 2020 and is expected to make over USD 14,600 Million by the end of 2026, with a CAGR of approximately 27.5% between 2021 and 2026.
CBD, which is derived from Cannabidiol, is a non-psychoactive chemical derived from the leaves and flowers of the marijuana plant. CBD drinks include non-alcoholic wine, kombucha, water, and cold brew coffee. The psychotropic side effects of THC, which is found in marijuana, are not present in these products. The method for preparing a CBD-infused beverage varies depending on the substance. The beverage is made in the usual way – just as the brewing of tea and coffee, or water is filtered and treated as needed – and then CBD is added. CBD does not give people the “high” that they experience from marijuana since it is non-psychoactive. Instead, it's designed to deliver marijuana's health advantages without the mind-altering effects.
Veryvell, a range of effervescent, nonalcoholic CBD beverages, was launched in the United States in January 2021 by Truss CBD USA, in a collaborative plan where it was primarily owned by Molson Coors Beverage Company along with Hexo, a Canadian cannabis manufacturer. Initially, only Colorado was able to purchase the beverage line. Veryvell is a hemp-derived, sparkling CBD water with no calories or sugar, according to the manufacturer. It was available in three flavors: strawberry hibiscus, blueberry lavender, and grapefruit tarragon, and was made available online and at selected stores. Veryvell, along with four other products from the Hexo collaboration, is already available in Canada. However, this brand differs from the one in Canada since Veryvell beverages in the United States only contain CBD, not THC.
Many economies throughout the world have been badly damaged by the COVID-19 epidemic. More than 100 nations have been affected by the epidemic. Governments throughout the globe announced lockdowns for controlling the spread of the disease and avoiding its repercussions, which has had a huge impact on many sectors. Nonetheless, the cannabis sector is at a watershed moment. As a result, this factor is likely to increase demand for CBD-infused beverages. Furthermore, during the epidemic, CBD-infused beverages have been a popular choice for individuals who are spending more time at home, both for entertainment and to relieve tension and worry. As a consequence, sales of CBD-infused beverages are surging, propelling the market forward. Legalizing recreational cannabis in various countries, rising demand for CBD-infused wellness beverages, rising disposable income of consumers, and improved living standards are just a few of the reasons driving this market's rapid expansion throughout the forecast period.
Top Market Players
Major players operative in the global CBD-infused beverages market are Cannabiniers, General Cannabis, Canopy Growth Corporation, Aurora Cannabis, Aphria Inc., Tilray, Daytrip Beverages, Lagunitas Brewing Company, Koios Beverage Corp., CBD Biotechnology Co. Ltd, G&Juice, K-Zen Beverages Inc., NewAge Inc., Alkaline88, LLC, Phivida Holdings Inc., CANNABIS SATIVA, INC, Puration and Honeydrop Beverages amongst others.
Growing demand for functional beverages produced with healthy, natural components, as well as increased public knowledge of CBD's health and wellness advantages, are driving the rise of CBD-infused beverages. Many various firms are now providing CBD-infused drinks in the United States and other countries, thanks to improvements in CBD production technology. Buddha Teas, for example, provides four types of CBD tea blended with chamomile, matcha, and other herbs and spices. Another factor supporting the growth of the CBD-infused beverage market is a growing public awareness of the products' healthiness and a growing number of health-conscious customers. Consumers are also enjoying an inflow of new items as the amusement business continues to grow. Consumers can now choose from a variety of products at dispensaries and trade stores in addition to traditional cannabis flowers. Consumers are increasingly interested in cannabis-based concentrates, extracts, and edibles.
The specialty store sector was the top supply chain point with the greatest cannabis food and beverage market share, according to the distribution channel. This can be due to the growing popularity of cannabis products in both mature and emerging economies, thanks to specialty shop chains. Furthermore, people choose hypermarkets and supermarkets since they give a one-stop shop where they can get all sorts of cannabis food and beverages.
North America is projected to Dominate Global CBD-Infused Beverages Market Growth
The fastest-growing and largest market for cannabis beverages is expected to be North America. The legalization of cannabis for medicinal and recreational uses is a key element driving development. Cannabis usage for recreational and medicinal purposes was legalized in Canada in 2018. According to the National Conference of State Legislatures, 33 states, the District of Columbia, Guam, Puerto Rico, and the United States Virgin Islands have approved publicly available medicinal cannabis programs, leading to a surge in new product launches in the area. In addition, 13 states in the United States have legalized CBD products for medicinal use, resulting in a surge in demand for CBD-infused beverages in the area.
Browse the full “CBD-Infused Beverages Market by Product Type (Alcoholic and Non-Alcoholic), By Nature Type (Organic and Conventional), By CBD Type (Marijuana-Derived, Hemp-Derived, and Synthetic), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others) By Region: Global and Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/cbd-infused-beverages-market
The global CBD-infused beverages market is segmented as follows:
By Product Type:
By Nature Type:
By CBD Type:
By Distribution Channel:
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