Cannabis beverages include different types of alcoholic and non-alcoholic beverages which are infused with cannabis or marijuana. Rising concerns regarding headache and calorie-intake among consumers has encouraged companies operating in the food & beverages industry to invest in production of cannabis infused drinks.
Global cannabis beverage market was valued at US$ 364.8 Million in 2021 in terms of revenue, exhibiting a CAGR of 22.5% during the forecast period (2022 to 2030).
Drivers
Customers are gradually shifting towards cannabis from alcohol for recreational purposes, which is expected to drive growth of the global cannabis beverage market. Customers have shifted from smoking flowers using pipes, joints and bongs towards products such as infused edibles and concentrates which offer numerous options to choose from. 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, during January to December 2020, 138.5 million people aged 12 or older used alcohol 17.3 million people aged 18 to 25 used alcohol, 119.2 million people aged 26 or older used alcohol.
Furthermore, the increasing number of collaborations among key players with the goal of launching cannabis beverages is expected to fuel growth of the global cannabis beverages market. For instance, In April 2020, 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, U.S based company engaged in production and distribution of cannabis infused beverages to increase distribution of cannabis-derived intoxicants.
The COVID- 19 outbreak had a considerable impact on the overall industry growth on account of the shutdown of various manufacturing & industrial facilities along with delays in several infrastructural development projects. However, government relaxations on imposed lockdowns, followed by the resumption of industries and operations have augmented the market growth.
On the basis of region, North America dominated the global cannabis beverage market with a significant share in 2021 in terms of revenue.
Figure 1. Global Cannabis Beverages Market Value Share (%), By Region, 2021
Market Restraints
Cannabis beverage offers THC (tetrahydrocannabinol) to the consumers which is not permissible in several developing as well as developed countries. Cannabis based beverages have exhibited comparatively lower growth in the developing regions such as Asia and Latin America, owing to the ban of THC products in market. However, growing awareness about the health benefits associated with consuming cannabis is anticipated to boost growth in these regions as well. In June 2022, after becoming the first Southeast Asian country to legalize marijuana for medical purposes in 2018, Thailand is to become the first Asian country to decriminalize recreational cannabis for personal use with relaxed regulations on allowing hemp extracts in food and beverages, and cosmetics.
Market Opportunities
Increasing recognition of cannabis for its medicinal and therapeutic benefits among consumers around the globe is expected to provide lucrative opportunities for the market growth of cannabis beverages. 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 patients.
The cannabis extracts which are infused in beverages are mainly fat soluble i.e. they cannot dissolve in water. The key challenge for beverage manufacturers is to achieve proper mixing of cannabis extracts into the liquid and maintain the shelf-stability of the products. However, the fat-soluble nature of cannabis extracts means that its psychoactive effects are delayed and consumers end up consuming excessive quantities.
On the basis of product type, in 2021, Non-Alcoholic accounted for the largest market share in terms of revenue, followed by alcoholic.
Recent Developments
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018-2021 and Forecast, 2022-2031
4.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Analysis, 2018-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (Litres) Projections, 2022-2031
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018-2021 and Forecast 2022-2031, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (Litres) Analysis By Type , 2018-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (Litres) Analysis and Forecast By Type , 2022-2031
5.3.1. Alcoholic
5.3.2. Non-Alcoholic
5.4. Y-o-Y Growth Trend Analysis By Type , 2018-2021
5.5. Absolute $ Opportunity Analysis By Type , 2022-2031
6. Global Market Analysis 2018-2021 and Forecast 2022-2031, By Component
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Mn) & Volume (Litres) Analysis By Component , 2018-2021
6.3. Current and Future Market Size Value (US$ Mn) & Volume (Litres) Analysis and Forecast By Component , 2022-2031
6.3.1. Cannabidiol (CBD)
6.3.2. Tetrahydrocannabinol (THC)
6.4. Y-o-Y Growth Trend Analysis By Component , 2018-2021
6.5. Absolute $ Opportunity Analysis By Component , 2022-2031
7. Global Market Analysis 2018-2021 and Forecast 2022-2031, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Mn) & Volume (Litres) Analysis By Region, 2018-2021
7.3. Current Market Size Value (US$ Mn) & Volume (Litres) Analysis and Forecast By Region, 2022-2031
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018-2021 and Forecast 2022-2031, By Country
8.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018-2021
8.2. Market Size Value (US$ Mn) & Volume (Litres) Forecast By Market Taxonomy, 2022-2031
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Type
8.2.3. By Component
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Type
8.3.3. By Component
8.4. Key Takeaways
9. Latin America Market Analysis 2018-2021 and Forecast 2022-2031, By Country
9.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018-2021
9.2. Market Size Value (US$ Mn) & Volume (Litres) Forecast By Market Taxonomy, 2022-2031
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Type
9.2.3. By Component
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Type
9.3.3. By Component
9.4. Key Takeaways
10. Europe Market Analysis 2018-2021 and Forecast 2022-2031, By Country
10.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018-2021
10.2. Market Size Value (US$ Mn) & Volume (Litres) Forecast By Market Taxonomy, 2022-2031
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Type
10.2.3. By Component
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Type
10.3.3. By Component
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018-2021 and Forecast 2022-2031, By Country
11.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018-2021
11.2. Market Size Value (US$ Mn) & Volume (Litres) Forecast By Market Taxonomy, 2022-2031
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Type
11.2.3. By Component
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Type
11.3.3. By Component
11.4. Key Takeaways
12. MEA Market Analysis 2018-2021 and Forecast 2022-2031, By Country
12.1. Historical Market Size Value (US$ Mn) & Volume (Litres) Trend Analysis By Market Taxonomy, 2018-2021
12.2. Market Size Value (US$ Mn) & Volume (Litres) Forecast By Market Taxonomy, 2022-2031
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Type
12.2.3. By Component
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Type
12.3.3. By Component
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. U.S.
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Type
13.1.2.2. By Component
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Type
13.2.2.2. By Component
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Type
13.3.2.2. By Component
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Type
13.4.2.2. By Component
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Type
13.5.2.2. By Component
13.6. U.K.
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Type
13.6.2.2. By Component
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Type
13.7.2.2. By Component
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Type
13.8.2.2. By Component
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Type
13.9.2.2. By Component
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Type
13.10.2.2. By Component
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Type
13.11.2.2. By Component
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Type
13.12.2.2. By Component
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Type
13.13.2.2. By Component
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Type
13.14.2.2. By Component
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Type
13.15.2.2. By Component
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Type
13.16.2.2. By Component
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Type
13.17.2.2. By Component
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Type
13.18.2.2. By Component
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Type
13.19.2.2. By Component
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Type
13.20.2.2. By Component
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Type
14.3.3. By Component
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. The Alkaline Water Company
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Phivida Holdings Inc.
15.1.3. Koios Beverage Corporation
15.1.4. Dixie Brands Inc.
15.1.5. Keef Brand
15.1.6. Hexo Corp.
15.1.7. MedReleaf Corp.
15.1.8. Vivo Cannabis Inc.
15.1.9. Canopy Growth
15.1.10. Aphria Inc.
15.1.11. GW Pharmaceutical,PLc.
15.1.12. Cronos Group Inc.
15.1.13. Jazz Pharmaceuticals
15.1.14. Phoena Holdings
15.1.15. Tilray Inc.
15.1.16. General Cannabis Corporation
15.1.17. New Age Beverages Corporation
15.1.18. Dutch Windmill Spirits
15.1.19. Heineken
15.1.20. SK Rodni