Published by Coherent Market Insights
Posted on September 16, 2021
Cannabis beverages includes different types of alcoholic and non-alcoholic beverages which are infused with cannabis or marijuana. Rising concerns regarding hangovers and calorie-intake among consumers has encouraged companies operating in the food & beverages industry to invest in production of cannabis infused drinks.
The global cannabis beverage market was valued at US$ 205 million in 2018, and is expected to exhibit a CAGR of 38.3% over the forecast period (2019-2027), to reach US$ 2743.7 million by 2027.
Shifting preference of consumers towards cannabis from alcohol for recreational purposes is expected to drive the growth of the global cannabis beverage market in the next few years. The trends in consumption rate of alcohol and cannabis are diverging substantially in recent times. Growing consumer awareness regarding the hazardous effects of alcohol on human health has led to decrease in alcohol consumption among consumers. According to the U.S. National Survey on Drug Use and Health, 2.4 million people in U.S., over the age of 12, started using marijuana in 2013, which is around 6,600 new users on an average in a day.
Top Key Players in Cannabis Beverage market: MedReleaf Corp., Cronos Group Inc., GW Pharmaceuticals, Plc., CannTrust Holdings Inc., VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, The Supreme Cannabis Company, and SK Rodnik.
Regional Analysis For Cannabis Beverage Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Cannabis Beverage market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
On the basis of region, North America dominates the global cannabis beverage market with a significant share in 2018 in terms of revenue. In 2018, the U.S. legalized cultivation of hemp, which is obtained from the cannabis plant but contains lesser tetrahydrocannabinol (THC) content, by implementation of the 2018 Farm bill. This bill allowed broad cultivation of hemp and removed the restrictions on sale, transportation and possession of products which are derived from hemp. This is expected encourage companies to launch new products in the region.
Furthermore, the increasing number of collaborations among leading companies with the goal of launching cannabis beverages is expected to fuel the growth of global cannabis beverages market. For instance, Hexo Corp., a Canada-based producer of cannabis products, formed a joint venture with Molson Coors Brewing Co., a producer of non-alcoholic beverages. In addition to this, in January 2020, Imaginary, a U.S.-based venture capital firm, invested US$ 5.0 million in Cann, an American company engaged in production and distribution of cannabis infused beverages.
Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is likely to promote the growth of the global cannabis beverages market. Cannabis is used a medicinal drug owing to various health benefits that it provides such as blood pressure control, improvement in sleeping patterns, and relief from anxiety and depression. Extensive research has been done by pharmaceutical companies to produce cannabis-based medicines and treatments which are safe for health and do not cause any harmful side effects to the patients.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Cannabis Beverage market size analysis by development history and growth status appeared first on Gatorledger.
Cannabis beverages includes different types of alcoholic and non-alcoholic beverages which are infused with cannabis or marijuana. Rising concerns regarding hangovers and calorie-intake among consumers has encouraged companies operating in the food & beverages industry to invest in production of cannabis infused drinks.
The global cannabis beverage market was valued at US$ 205 million in 2018, and is expected to exhibit a CAGR of 38.3% over the forecast period (2019-2027), to reach US$ 2743.7 million by 2027.
Shifting preference of consumers towards cannabis from alcohol for recreational purposes is expected to drive the growth of the global cannabis beverage market in the next few years. The trends in consumption rate of alcohol and cannabis are diverging substantially in recent times. Growing consumer awareness regarding the hazardous effects of alcohol on human health has led to decrease in alcohol consumption among consumers. According to the U.S. National Survey on Drug Use and Health, 2.4 million people in U.S., over the age of 12, started using marijuana in 2013, which is around 6,600 new users on an average in a day.
Top Key Players in Cannabis Beverage market: MedReleaf Corp., Cronos Group Inc., GW Pharmaceuticals, Plc., CannTrust Holdings Inc., VIVO Cannabis Inc., Tilray Inc., General Cannabis Corporation, Koios Beverage Corporation, New Age Beverages Corporation, Dutch Windmill Spirits, Heineken, The Supreme Cannabis Company, and SK Rodnik.
Regional Analysis For Cannabis Beverage Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Cannabis Beverage market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
On the basis of region, North America dominates the global cannabis beverage market with a significant share in 2018 in terms of revenue. In 2018, the U.S. legalized cultivation of hemp, which is obtained from the cannabis plant but contains lesser tetrahydrocannabinol (THC) content, by implementation of the 2018 Farm bill. This bill allowed broad cultivation of hemp and removed the restrictions on sale, transportation and possession of products which are derived from hemp. This is expected encourage companies to launch new products in the region.
Furthermore, the increasing number of collaborations among leading companies with the goal of launching cannabis beverages is expected to fuel the growth of global cannabis beverages market. For instance, Hexo Corp., a Canada-based producer of cannabis products, formed a joint venture with Molson Coors Brewing Co., a producer of non-alcoholic beverages. In addition to this, in January 2020, Imaginary, a U.S.-based venture capital firm, invested US$ 5.0 million in Cann, an American company engaged in production and distribution of cannabis infused beverages.
Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is likely to promote the growth of the global cannabis beverages market. Cannabis is used a medicinal drug owing to various health benefits that it provides such as blood pressure control, improvement in sleeping patterns, and relief from anxiety and depression. Extensive research has been done by pharmaceutical companies to produce cannabis-based medicines and treatments which are safe for health and do not cause any harmful side effects to the patients.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post Cannabis Beverage market size analysis by development history and growth status appeared first on Gatorledger.
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