Global Cannabis Beverages Market by Type (Non-Alcoholic, Alcoholic), by Component (Cannabidiol (Cannabidiol CBD), by Tetrahydrocannabinol (THC) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global cannabis beverages market was worth USD 901.8 million in 2018. It is projected to grow at 17.8% CAGR between 2019 and 2025. The growth is expected to be driven by rising demand for wellness beverages. Product demand will be driven by the product's low sugar content and appropriate amount of cannabis. It is expected that the legalization of marijuana use for recreational and medical purposes in many countries will drive both production and demand for cannabis-infused beverages.

Demand for cannabis drinks will rise due to the increasing use of cannabis in the treatment of cancer and neurological disorders. There are significant market opportunities due to the many uses of cannabis. The market is expected to grow due to growing consumer interest in edible cannabis. Consumers of cannabis are moving away from smoking and focusing on alternative methods, such as drinks, tinctures, chocolates and other edibles. Consuming concentrated cannabis-infused products is a trend that will support market growth. Other marijuana-infused products such as cookies, chocolates, brownies and confectionaries, like gummies, are likely to be replaced by cannabis beverages. This will increase demand for cannabis drinks in the future.

It is expected that the growth of the cannabis market will be driven by the sale of cannabis beverages through off-trade channels such as cafes, hotels, restaurants, clubs, and lounges. The declining sales of soft drinks and alcohol across the globe is a sign that consumers are changing their preferences when it comes to beverages. To capture more market share, alcohol companies are shifting to cannabis to increase their investments in R&D and product launches. Hi-Fi Hops is a cannabis-based beverage that is low in calories and carbs. It was launched by Lagunitas (Heineken's California beer brand), and contains Cannabidiol and Tetrahydrocannabinol. Constellation Brands was the third largest beer producer in the United States. In 2017, Canopy Growth, the world's biggest marijuana grower, formed a partnership to create cannabis-infused beverages.

New product launches and increased sales of marijuana drinks from brewing companies are driving the market for marijuana beverages. The demand is largely influenced by the millennial generation. According to a Yahoo News poll in 2017, 55 million recreational marijuana users were millennials. The majority of millennials use marijuana in social settings, while 25% consume it by themselves. Researchers at Georgia State University and the University of Connecticut conducted a 10-year study that found that wine and beer sales decreased 15% in U.S. states where marijuana legalization was complete in 2017.

Component Insights

The market can be divided into Cannabidiol, Tetrahydrocannabinol and CBD. THC-infused cannabis drinks are mainly driven by growing consumer demand for these beverages. The segment is expected to grow in the coming years due to rising demand for its therapeutic effects and euphoria.

CBD-infused cannabis drinks saw the fastest growth in 2018. Due to CBD's non-psychoactive qualities, CBD drinks are expected to see a significant increase in demand over the forecast period. CBD drinks do not have psychoactive effects, which makes them more suitable for medical purposes. CBD drinks are increasingly being considered as anti-inflammatory and wellness products. This drink could be used to treat anxiety, chronic pain, substance abuse disorders, and central nerve system diseases. These factors will likely increase the popularity of the product and lead to the growth of this segment.

Type Insights

The market for cannabis beverages can be divided into two types: alcoholic and non-alcoholic. Due to the increasing number of companies that infuse beers with THC or CBD, the demand for alcoholic cannabis-infused beverages will see strong growth during this forecast period. People who drink both cannabis and alcohol are the main drivers of this demand. The segment is expected to continue growing in the future due to its high preference for beer and spirits.

The fastest-growing segment of cannabis beverages in 2018 is non-alcoholic. Due to growing demand for wellness drinks, the demand for non-alcoholic cannabis beverages is on the rise. Non-alcoholic cannabis beverages are increasingly being sought after by newcomers. People are more likely to drink non-alcoholic cannabis-infused beverages such as teas and drops, elixirs or energy drinks, lemonade, and carbonated beverages. Female millennials drive the demand for non-alcoholic beverages. Manufacturers are focusing on the female market by offering calorie-free beverages over cookies and brownies. Non-alcoholic beverages are also being developed by alcohol giants. Gatineau, Quebec-based Hexo formed a joint venture in August 2017 with Molson Coors and launched Truss, a brand that produces non-alcoholic cannabis beverages for Canada.

Regional Insights

North America is the largest and fastest growing market for cannabis beverages. Growth is driven by the legalization of marijuana for recreational and medical purposes. Canada legalized marijuana use for medical and recreational purposes in 2018. According to the National Conference of State Legislatures (33 U.S. States, Guam, Puerto Rico, Guam and Puerto Rico), there are publicly available medical marijuana programs. This has led to increased product launches in the region. The region is also a hot market for CBD-infused cannabis drinks, as 13 states in the United States allow low THC and high CBD products to be used for medical purposes.

Europe will also see significant growth in the future due to rising demand. According to the Cannabis Trade Association, the U.K. saw a rise in CBD users from 125,000 in 2016 up to 250,000 in 2017. Companies in the region are also launching new products to meet the growing demand for wellness drinks. Cloud 9 Brewing and CBD Ultra, a Manchester-based company, launched the first CBD Session IPA beer in the UK made with Cannabis Sativa extract. Due to the existence of cannabis-friendly cafes and restaurants in the Netherlands, the demand for marijuana is strong. The country's growth in cannabis tourism is expected to increase the demand. Australia and Uruguay are expected to see a significant increase in product demand due to legalization of marijuana for recreational and medical purposes.

Market Share Insights & Key Companies

The market leaders are New Age Beverages Corporation, The Alkaline Water Company, Phivida Holdings Inc., Koios Beverage Corporation, VCC Brand; Dixie Brands Inc. and Keef Brand; Hexo Corp.; Aphria and Canopy Growth. As a result, the market is fragmented. Many manufacturers are active in product launches and mergers and purchases to increase their market share. Constellation Brands was the third largest beer producer in America in 2017. In 2017, Canopy Growth, the world's largest cannabis grower, formed a partnership to create cannabis-infused beverages.

In 2019, New Age Beverages Corporation entered into an agreement with Dock light (a division of Privateer Holdings) for a 50-50 profit sharing partnership to sell marijuana-infused products. AQUAhydrate was acquired by The Alkaline Water Company in 2019 to increase their retail distribution throughout North America. This partnership included retailers such as Walmart, Target and Safeway as well celebrity investors who continue to be brand ambassadors.

Cannabis Beverages Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level. It also provides analysis of industry trends and potential opportunities in each sub-segment from 2015 to 2025. Grand View Research has divided the report on global cannabis beverages market by type, component and region.

• Type Outlook (Revenue USD Million, 2015-2025)

  • Alcoholic

  • Non-Alcoholic

• Component Outlook (Revenue USD Million, 2015-2025)

  • Cannabidiol, (CBD).

  • Tetrahydrocannabinol, (THC).

• Regional Outlook (Revenue USD Million, 2015-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • Netherlands

  • Rest of the World (RoW).

These are the most frequently asked questions about this report

b. Global cannabis beverages market was valued at USD 1.01 Billion in 2019, and is forecast to grow to USD 1.15 Billion by 2020.

b. Global cannabis beverages market will grow at a compound annual rate of 17.8% between 2019 and 2025, reaching USD 2.84 billion in 2025.

b. With a market share of 80.4%, North America was the dominant country in cannabis beverages. This can be attributed to legalization of marijuana for recreational and medial purposes in Canada and the U.S.

b. The Alkaline Water Company, Phivida Holdings Inc., Koios Beverage Corporation, VCC Brand; Dixie Brands Inc. and Keef Brand are some of the key players in the cannabis beverages industry.

b. Market growth is driven by rising demand for wellness beverages, low sugar content, and legalization for marijuana use for recreational and medical purposes.

Up Market Research published a new report titled “Cannabis Beverages Market research report which is segmented by Type (Non-Alcoholic, Alcoholic), by Component (Cannabidiol (Cannabidiol CBD), by Tetrahydrocannabinol (THC), By Players/Companies The Alkaline Water Company; Phivida Holdings Inc; Koios Beverage Corporation; VCC Brand; Dixie Brands Inc; Keef Brand; Hexo Corp; Aphria; and Canopy Growth”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Cannabis Beverages Market Report Segments:

The market is segmented by Type (Non-Alcoholic, Alcoholic), by Component (Cannabidiol (Cannabidiol CBD), by Tetrahydrocannabinol (THC).

Cannabis Beverages Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Cannabis Beverages Market

Overview of the regional outlook of the Cannabis Beverages Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Cannabis Beverages Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Cannabis Beverages Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Non-Alcoholic

                2. Alcoholic

                1. Cannabidiol CBD

                1. THC

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Cannabis Beverages Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Cannabis Beverages Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.