The report offers actionable and valuable insights on the Cannabis Infused Drinks market. The latest report by Fact.MR provides details on the present scenario of the Cannabis Infused Drinks market across various regions along with the historic data and forecast of the Cannabis Infused Drinks market. The report also includes information on the sales and demand of Cannabis Infused Drinks across various industries and regions. Market dynamics including latest trends, challenges, growth opportunities, and drivers for is also provided in the Cannabis Infused Drinks market report.
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Cannabis has become the buzz word in the beverage industry, and mainstream companies are already taking strides in the CBD- and/or THC-infused drinks landscape. According to a new study by Fact.MR, the global sales of cannabis infused drinks will surpass US$ 200 Mn in 2019. While the legalization of marijuana in over 10 states of the U.S. sparked a wave of innovative product launches in the edibles space, the second wave of recreational marijuana legalization resulted in a lawful emergence and proliferation of cannabis infused beverages – alcoholic and non-alcoholic.
Beer companies have already infiltrated the cannabis industry, with leading brewers investing millions to leverage the first-mover advantage, meanwhile banking on their anticipation of a nationwide legalization of cannabis in the foreseeable future. The study finds that cannabis infused beer leads the way, accounting for nearly 70% sales of ‘alcoholic’ category. This is significant, as the ‘alcoholic’ category is estimated to hold nearly three-fourth shares of the cannabis infused drinks market. Leading brewers are focusing their efforts toward navigating the hazy path rules & regulation to deduce prospective opportune potential of cannabis-infused beer.
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For large beverage manufacturers, the push into cannabis initiated by the fear of missing out; and the current boom in pot investment by leading beverage companies is driven by the already trending shift of millennials from the usual wine or cocktails to cannabis-infused beverages, beer in particular. Availability continues to be a key sales propellant of cannabis infused drinks, as these beverages are approved to be sold in modern trade chains across regions where marijuana has been legalized for medicinal and recreational use.
The study finds a remarkable uptick in consumer preference for ‘non-alcoholic’ category, which range from functional drinks, tea and coffee, to juices. Although the non-alcoholic category currently accounts for meagre shares of cannabis infused drinks market, prospects are expected to be bullish as the permeation of recreational marijuana gradually grows, and players tap the opportune potential in the demographic group that cringes away from alcohol consumption. According to the study, sales of non-alcoholic cannabis infused drinks will record a 30% Y-o-Y in 2019 over 2018.
THC and CBD Remain Preferred Cannabinoids, Hybrid to Gradually Pick Pace
THC-infused drinks have been the first preference among consumers, however CBD-infused drinks have also gained sheer traction in the recent past. These two cannabinoid categories are estimated to account for over 70% sales of cannabis infused drinks worldwide in 2019. However, the study opines that hybrid cannabis infused drinks that contain both CBD and THC strains will pick up pace gradually – estimated to register a 40% Y-o-Y in 2019 over 2018.
Leveraging emerging technology, while tracking trends in mainstream beverage industries, in order to introduce innovative variants, continue to remain key expansion strategies of players in the cannabis infused drinks market. Additionally, the growing consumer preference for cannabis-infused products, which impart particular effects has been hard-pressing leading beverage companies in offering a diverse variety of THC as well as CBD dosages in their product offerings. A greater emphasis on organic and naturally-sourced ingredients continues to mold prospects of the cannabis infused drinks market.
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The Cannabis Infused Drinks Market research answers important questions, including the following:
- Why Cannabis Infused Drinks Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Cannabis Infused Drinks Market
- What are the pros and cons of the Cannabis Infused Drinks Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Cannabis Infused Drinks Market?
The Cannabis Infused Drinks Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Cannabis Infused Drinks
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Cannabis Infused Drinks
- Consumption trends among individuals across the globe.
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