Cannabis Infused Beverages Market Revenues Will Expand Nearly 24x By 2031

Food and beverages

The global cannabis infused drinks market is projected to surpass US$ 6 Bn, expanding at a stellar 38% CAGR across the 2021-2031 assessment period, concludes a newly published report by Fact.MR. Increasing scramble to legalize recreational and medicinal usage across key countries is heightening prospects.

From 2016 to 2020, sales of cannabis infused drinks expanded at a 15% CAGR, clocking US$ 250 Mn by the end of the aforementioned period. While COVID-19 temporarily impeded expansion, unceasing efforts to incorporate low-grade cannabis in food & beverage products amid legal sanctions sustained demand to a large extent

Request Sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=3383 

Key Takeaways from the Market Study

  • CBD infused drinks to generate 3 out of 5 sales until 2031
  • Non-alcoholic cannabis infused beverages to account for 50% of total consumption
  • U.S market for cannabis infused drinks to surge at a CAGR of around 10%
  • A market share of nearly 40% is projected for the Europe cannabis infused drinks landscape
  • India likely to register an expansion rate of 8% in value CAGR terms until 2031
  • Bulk of cannabis infused drinks sales to occur across online platforms
  • Global market for cannabis infused drinks to add 24x market value by 2031

Beginner cannabis users who want a discreet, accessible, and regulated amount of cannabis are driving increased demand for CBD-infused cannabis drinks” – says the Fact.MR analyst.

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

Competitive Landscape

Due to the extreme uncertainty surrounding cannabis sales and use rules, the competitive environment of the cannabis infused beverages industry remains tumultuous.

Prominent manufacturers of cannabis infused drinks include CAN, Artet, The Alkaline Water Company, Phivida Holdings Inc., Koios Beverage Corporation, VCC Brand, Dixie Brands Inc., Keef Brand, Hexo Corp, Aphria and Canopy Growth among others.

Using new technology and trends in the mainstream beverage industries to develop distinctive variants is expected to be a significant strategy for manufacturers seeking a competitive edge.

 

Leave a Reply

Related Posts