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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Cannabis Beverage Market Regional Analysis
North America to be among Leading Regions of the Global Market
North America is likely to be the fastest and largest marketplace for cannabis beverages. The legalization of cannabis for medical, therapeutic, and recreational purposes is driving the cannabis beverage industry expansion. In 2018, Canada legalized the utilization of marijuana for recreational and medical purposes. Various states in the United States have made the addition of cannabis infusion legal in food and beverages. This factor is predicted to spice up the expansion of the cannabis food and beverage market in North America.
Europe to Witness Significant Growth in the Coming Years
Europe is additionally estimated to witness significant growth over the forecasted period due to the rising consumers within the region. As per the Cannabis Trade Association, the companies operating in the region are introducing products to keep up with the rising trend of wellness drinks. The demand of cannabis beverage market is also well-built in the Netherlands due to the presence of cafes and restaurants committed to marijuana consumption. The growth of cannabis tourism within the country is predicted to further boost the demand within the country. Countries, like Australia and Uruguay, also are anticipated to witness a big rise in product demand, due to the legalization of marijuana for medical and recreational purposes.
Cannabis Beverage Market Report Snapshots
Cannabis Beverage Market Growth
Cannabis Beverage Market Trends
Cannabis Beverage Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global cannabis beverage market attained a value of nearly USD 255.00 million.
The global cannabis beverage market is assessed to grow at a CAGR of 30.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 2,763.84 million by 2032.
The major drivers of the market include growing population, the rising demand for wellness drinks, and the increasing use of cannabis for the treatment of varied diseases like neurological disorders, cancer, and pain control.
Growing legalisation of marijuana and the rising number of consumers shifting interest from smoking cannabis to other modes of consumption including beverages are the key trends of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on type, market segmentations include alcoholic and non-alcoholic.
The components of cannabis beverage include cannabidiol (CBD) and tetrahydrocannabinol (THC).
The distribution channels in the market are hypermarkets and supermarkets, convenience stores, mass merchandisers, speciality stores, and online, among others.
The diverse end uses of cannabis beverages are household and HoReCa.
The competitive landscape consists of Anheuser Busch Inbev NV, Canopy Growth Corporation, Dixie Elixirs LLC, Phivida Holdings Inc., and Tilray, Inc., among others.
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