Cannabis Beverages Market Is Expected To Witness Increased Growth Rates Of Revenue And CAGR Forecast 2025|Grand View Research, Inc.


The global cannabis beverages market size is expected to reach USD 2.8 billion by 2025, expanding at a CAGR of 17.8% during the forecast period, according to a new report by Grand View Research, Inc. The market is highly fragmented in nature, owing to the presence of the small and medium scale companies. Majority of the companies are based in Canada owing to the legalization of marijuana for medical and recreational purpose in the country. Rise in legalization of marijuana in order to eradicate the black market and to boost the tax revenue from legal sales of marijuana products is anticipated to positively influence the growth.
Rising popularity of wellness drinks is also expected to support the demand over the forecast period. The legalization of cannabis for medical and recreational purpose has had a strong impact on the sales of alcoholic drinks. As a result, many alcohol manufacturers are investing in the growing trend of marijuana-infused drinks. For instance, Lagunitas, Heineken's fast-growing California beer label, launched Hi-Fi Hops, which is a cannabis-based beverage with zero calories or carbs and is infused with Cannabidiol (CBD) and Tetrahydrocannabinol (THC). In 2017, Constellation Brands, third largest beer manufacturer in U.S., entered into a partnership with Canopy Growth-world’s largest marijuana grower to develop cannabis-infused beverages.
Some of the key players operating in the global market include New Age Beverages Corporation; The Alkaline Water Company; Phivida Holdings Inc.; Koios Beverage Corporation.; VCC Brand; Dixie Brands Inc.; Keef Brand; Hexo Corp; Aphria; and Canopy Growth
Browse Research Report On cannabis beverages Market:
https://www.grandviewresearch.com/industry-analysis/cannabis-beverages-market
Consumers are shifting their preference from soft drinks to wellness drinks leading into increasing sale of cannabis beverages. Low sugar content in drinks is the major driving factor for the growth of the market. Also, consumers prefer these beverages as an alternative to cannabis smoking and consumption of marijuana-infused chocolates, cookies, brownies and confectionaries like gummies and candies. Off trade sales channels, such as hotels, cafes, restaurants, clubs, and lounges are expected to boost the popularity of the product among consumers.
Further key findings from the report suggest:
·         By Type, non-alcoholic segment was the largest and fastest growing segment in 2018 and is expected to continue leading over the forecasted period, majorly driven by rising product demand from the newcomers and female consumers
·         CBC infused cannabis beverages is estimated to be the fastest growing segment over the forecast period, owing to the non-psychoactive property of CBD
·         In Europe, Netherland hold the largest market share owing to the presence of cafes and restaurants dedicated for cannabis consumption and increasing trend of cannabis tourism in the country
Strong demand for cannabis beverages from millennials is also anticipated to drive the market growth. As per a 2017 Yahoo News poll, majority of the 55 million recreational marijuana users in U.S. were millennials. Most millennials consume marijuana socially and only 25% of them consume it alone. A 10-year study by researchers at University of Connecticut and Georgia State University completed in 2017, found that in U.S. counties where marijuana was legalized, wine and beer purchases decreased by 15%.
Browse Research Report On car wash service Market:
https://www.grandviewresearch.com/press-release/global-cannabis-beverages-market
Grand View Research has segmented the global cannabis beverages market report on the basis of type, component:
Cannabis Beverages Type Outlook (Revenue, USD Million, 2015 - 2025)
·         Alcoholic
·         Non-Alcoholic
Cannabis Beverages Component Outlook (Revenue, USD Million, 2015 - 2025)
·         Cannabidiol (CBD)
·         Tetrahydrocannabinol (THC)

Also, in 2019, New Age Beverages Corporation signed as agreement with Dock light, division of Privateer Holdings for 50-50 profit-sharing partnership to sale marijuana-infused products under the Marley Natural brand. In 2019, The Alkaline Water Company acquire AQUAhydrate to expand their retail distribution across North America with retailers including Walmart, Target, Safeway, Rite Aid, GNC Meijer, QT, and Albertsons along with celebrity investors continue to serve as brand ambassadors.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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