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New York, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Global Cannabis Beverages Industry' -
Its use for recreational purposes (factoring in the illegal usage) is much higher in comparison to its medicinal use. The market is anticipated to be on a growth path due to the growing cannabis demand in the mainstream market. The changing legal status of marijuana in a growing number of countries worldwide, including several US states, is attracting more and more food and drink companies to the vibrant cannabis beverages market. The continued deregulation of cannabis, escalating societal acceptance, growing awareness of CBD benefits, and availability in familiar/popular formats are some factors supporting growth in demand and sales of cannabis beverages. The CBD-infused beverages are gaining popularity in the US where they are becoming easily available through mainstream retail outlets. The growing interest in wellness drinks is also likely to drive gains in the market. The market is also benefitting from other factors such as better living standards, increasing disposable income levels, and legalization of recreational cannabis in several countries. Off-trade channels such as lounges, clubs, restaurants, cafes, and hotels are likely to augment the product`s visibility and popularity among customers.
Amid the COVID-19 crisis, the global market for Cannabis Beverages estimated at US$799.8 Million in the year 2020, is projected to reach a revised size of US$2 Billion by 2026, growing at a CAGR of 16.9% over the analysis period. Non-Alcoholic, one of the segments analyzed in the report, is projected to grow at a 17.5% CAGR to reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Alcoholic segment is readjusted to a revised 15.7% CAGR for the next 7-year period. Non-alcoholic cannabis beverages dominate the market and are also expected to register strong growth, mainly supported by growing demand from female and new customers, especially millennials, and also rising interest in wellness drinks among customers. Cannabis-infused alcoholic beverages are also gaining strong popularity, given their capability to offer the alcohol effect, but with health advantages and no calories. They are mainly used by people who consume cannabis as well as alcohol.
The U.S. Market is Estimated at $649.1 Million in 2021, While Asia-Pacific is Forecast to Reach $146.7 Million by 2026
The Cannabis Beverages market in the U.S. is estimated at US$649.1 Million in the year 2021. The country currently accounts for a 70.9% share in the global market. Asia-Pacific is forecast to reach an estimated market size of US$146.7 Million in the year 2026 trailing a CAGR of 14.2% through the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 16.7% and 16.1% respectively over the analysis period. North America is a dominant market, mainly driven by growth in the US market. Subsequent to the legalization of the use of hemp and its derived CBD products, sales of hCBD (hemp-cannabidiol) gained considerable impetus. Guam, Puerto Rico, the US Virgin Islands, District of Colombia, and 33 States have granted approval to medical cannabis programs (publicly available), which led to the introduction of many cannabis drinks. Further, 13 states in the country permit the usage of high CBD and low THC products for medical uses, which has resulted in strong adoption of CBD infused cannabis drinks. Europe is another region that is likely to register surging demand, due to the growing interest in cannabis among consumers and the rising introduction of products. In developing regions such as Latin America, Oceania, and Asia, cannabis-based beverages have registered nominal growth due to the prohibition of THC products.
By Component, Tetrahydrocannabinol (THC) Segment to Reach 1.1 Billion by 2026
Demand for cannabis beverages infused with THC is being supported by the growing consumption among adult customers for recreational reasons. The euphoria they offer as well the therapeutic benefits are anticipated to foster their demand. In the global Tetrahydrocannabinol (Component) segment, USA, Canada, and Europe will drive the 16.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$422.5 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. The market in Asia-Pacific is forecast to reach US$76.6 Million by the year 2026.
Select Competitors (Total 79 Featured)
- Alkaline88, LLC
- Aphria Inc.
- Aurora Cannabis Inc.
- CannTrust Holdings Inc.
- Canopy Growth Corporation
- Cronos Group Inc.
- Dixie Brands Inc.
- GW Pharmaceuticals plc
- HEXO Operations Inc.
- Keef Brands
- Organigram Holdings Inc.
- Tilray
- VCC Brands
- VIVO Cannabis Inc.
Read the full report:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of COVID-19 Pandemic and Looming Global Recession: 2020
Marked as a Year of Disruption & Transformation
EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual
% Change) for 2020 through 2022
Pandemic Leads to Increased Focus on Health and Wellness Products
Pandemic Drives Consumer Shift towards Organic Foods
An Introduction to Cannabis Beverages
Global Market Prospects & Outlook
Key Trends Influencing the Market
Analysis by Type
EXHIBIT 2: World Cannabis Beverages Market by Type (2021 &
2027): Percentage Breakdown of Value Sales for Non-Alcoholic,
and Alcoholic
Analysis by Component
EXHIBIT 3: World Cannabis Beverages Market by Component (2021 &
2027): Percentage Breakdown of Value Sales for
Tetrahydrocannabinol (THC), and Cannabidiol (CBD)
Regional Analysis
EXHIBIT 4: Global Market for Cannabis Beverages: Percentage
Breakdown of Sales for Developed and Developing Regions (2021 &
2027)
EXHIBIT 5: Global Market for Cannabis Beverages - Geographic
Regions Ranked by % CAGR (Sales) for 2020-2027: USA, Canada,
Europe, Asia-Pacific, and Rest of World
Cannabis Beverages to Take the US Market by Storm
Low-dose Cannabis Emerge as Alcohol Alternatives in Canada
Competitive Scenario: Major Players Eying a Pie of the Cannabis
Market
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Cannabis-Infused Beverages to Reduce Alcohol Consumption among
the Young
Prevailing Trends Positively Influence the Market
Alcoholic Beverage Companies Seek Role in the Market
Growth Trend to Continue
Legalisation & Decriminalization Augur Well
Legalisation Drives Demand in North America
A Note On Clean Label Cannabis
A Review of Trends Influencing the Market
Favorable Demographics Strengthen Market Prospects
EXHIBIT 6: World Population (in Thousands) by Geographic Region
for the Years 2018, 2025, 2040, 2050
Urban Sprawl Encourages a Positive Tide
EXHIBIT 7: World Urban Population in Million and as Percentage
of Total Population for the Period 1950-2050P
Rising Health Awareness to Fuel Market Prospects
Growing Adoption of Herbal Remedies Widens Prospects
EXHIBIT 8: Hypertension Prevalence (%) Worldwide by Region in
Male and Females Aged 25+ Years
EXHIBIT 9: World Diabetes and Population Statistics (2019, 2030 &
2045)
EXHIBIT 10: Fatalities by Heart Conditions: Estimated
Percentage Breakdown for Cardiovascular Disease, Ischemic
Heart Disease, Stroke, and Others
Production Challenges Abound for Cannabis Beverage Producers
Production Process of Cannabis Beverages - The Many Challenges
Long-Term Studies on Stability of Products Essential
Production Innovation Accelerates Market Growth
Safety Challenges with Hemp-infused Products
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for Cannabis Beverages
by Geographic Region - USA, Canada, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Thousand for Years 2020 through 2027 and % CAGR
Table 2: World 7-Year Perspective for Cannabis Beverages by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Europe, Asia-Pacific and Rest of World Markets for
Years 2021 & 2027
Table 3: World Current & Future Analysis for Non-Alcoholic by
Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest
of World Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2020 through 2027 and % CAGR
Table 4: World 7-Year Perspective for Non-Alcoholic by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2021 & 2027
Table 5: World Current & Future Analysis for Alcoholic by
Geographic Region - USA, Canada, Europe, Asia-Pacific and Rest
of World Markets - Independent Analysis of Annual Sales in US$
Thousand for Years 2020 through 2027 and % CAGR
Table 6: World 7-Year Perspective for Alcoholic by Geographic
Region - Percentage Breakdown of Value Sales for USA, Canada,
Europe, Asia-Pacific and Rest of World for Years 2021 & 2027
Table 7: World Current & Future Analysis for
Tetrahydrocannabinol (THC) by Geographic Region - USA, Canada,
Europe, Asia-Pacific and Rest of World Markets - Independent
Analysis of Annual Sales in US$ Thousand for Years 2020 through
2027 and % CAGR
Table 8: World 7-Year Perspective for Tetrahydrocannabinol
(THC) by Geographic Region - Percentage Breakdown of Value
Sales for USA, Canada, Europe, Asia-Pacific and Rest of World
for Years 2021 & 2027
Table 9: World Current & Future Analysis for Cannabidiol (CBD)
by Geographic Region - USA, Canada, Europe, Asia-Pacific and
Rest of World Markets - Independent Analysis of Annual Sales in
US$ Thousand for Years 2020 through 2027 and % CAGR
Table 10: World 7-Year Perspective for Cannabidiol (CBD) by
Geographic Region - Percentage Breakdown of Value Sales for
USA, Canada, Europe, Asia-Pacific and Rest of World for Years
2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
Table 11: USA Current & Future Analysis for Cannabis Beverages
by Type - Non-Alcoholic and Alcoholic - Independent Analysis of
Annual Sales in US$ Thousand for the Years 2020 through 2027
and % CAGR
Table 12: USA 7-Year Perspective for Cannabis Beverages by Type -
Percentage Breakdown of Value Sales for Non-Alcoholic and
Alcoholic for the Years 2021 & 2027
Table 13: USA Current & Future Analysis for Cannabis Beverages
by Component - Tetrahydrocannabinol (THC) and Cannabidiol (CBD) -
Independent Analysis of Annual Sales in US$ Thousand for the
Years 2020 through 2027 and % CAGR
Table 14: USA 7-Year Perspective for Cannabis Beverages by
Component - Percentage Breakdown of Value Sales for
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) for the Years
2021 & 2027
CANADA
Table 15: Canada Current & Future Analysis for Cannabis
Beverages by Type - Non-Alcoholic and Alcoholic - Independent
Analysis of Annual Sales in US$ Thousand for the Years 2020
through 2027 and % CAGR
Table 16: Canada 7-Year Perspective for Cannabis Beverages by
Type - Percentage Breakdown of Value Sales for Non-Alcoholic
and Alcoholic for the Years 2021 & 2027
Table 17: Canada Current & Future Analysis for Cannabis
Beverages by Component - Tetrahydrocannabinol (THC) and
Cannabidiol (CBD) - Independent Analysis of Annual Sales in US$
Thousand for the Years 2020 through 2027 and % CAGR
Table 18: Canada 7-Year Perspective for Cannabis Beverages by
Component - Percentage Breakdown of Value Sales for
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) for the Years
2021 & 2027
EUROPE
Table 19: Europe Current & Future Analysis for Cannabis
Beverages by Type - Non-Alcoholic and Alcoholic - Independent
Analysis of Annual Sales in US$ Thousand for the Years 2020
through 2027 and % CAGR
Table 20: Europe 7-Year Perspective for Cannabis Beverages by
Type - Percentage Breakdown of Value Sales for Non-Alcoholic
and Alcoholic for the Years 2021 & 2027
Table 21: Europe Current & Future Analysis for Cannabis
Beverages by Component - Tetrahydrocannabinol (THC) and
Cannabidiol (CBD) - Independent Analysis of Annual Sales in US$
Thousand for the Years 2020 through 2027 and % CAGR
Table 22: Europe 7-Year Perspective for Cannabis Beverages by
Component - Percentage Breakdown of Value Sales for
Tetrahydrocannabinol (THC) and Cannabidiol (CBD) for the Years
2021 & 2027
ASIA-PACIFIC
Table 23: Asia-Pacific Current & Future Analysis for Cannabis
Beverages by Type - Non-Alcoholic and Alcoholic - Independent
Analysis of Annual Sales in US$ Thousand for the Years 2020
through 2027 and % CAGR
Table 24: Asia-Pacific 7-Year Perspective for Cannabis
Beverages by Type - Percentage Breakdown of Value Sales for
Non-Alcoholic and Alcoholic for the Years 2021 & 2027
Table 25: Asia-Pacific Current & Future Analysis for Cannabis
Beverages by Component - Tetrahydrocannabinol (THC) and
Cannabidiol (CBD) - Independent Analysis of Annual Sales in US$
Thousand for the Years 2020 through 2027 and % CAGR
Table 26: Asia-Pacific 7-Year Perspective for Cannabis
Beverages by Component - Percentage Breakdown of Value Sales
for Tetrahydrocannabinol (THC) and Cannabidiol (CBD) for the
Years 2021 & 2027
REST OF WORLD
Table 27: Rest of World Current & Future Analysis for Cannabis
Beverages by Type - Non-Alcoholic and Alcoholic - Independent
Analysis of Annual Sales in US$ Thousand for the Years 2020
through 2027 and % CAGR
Table 28: Rest of World 7-Year Perspective for Cannabis
Beverages by Type - Percentage Breakdown of Value Sales for
Non-Alcoholic and Alcoholic for the Years 2021 & 2027
Table 29: Rest of World Current & Future Analysis for Cannabis
Beverages by Component - Tetrahydrocannabinol (THC) and
Cannabidiol (CBD) - Independent Analysis of Annual Sales in US$
Thousand for the Years 2020 through 2027 and % CAGR
Table 30: Rest of World 7-Year Perspective for Cannabis
Beverages by Component - Percentage Breakdown of Value Sales
for Tetrahydrocannabinol (THC) and Cannabidiol (CBD) for the
Years 2021 & 2027
IV. COMPETITION
Total Companies Profiled: 79
Read the full report:
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