Cannabis Beverages Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2022 - 2031

Cannabis Beverages Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2022 - 2031

  • SKU :
    SACPKG161231005
  • Published Date :
    Jan. 2, 2023
  • Number of Pages :
    400

Product Description

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

  • In August 2021, Cann, a THC (tetrahydrocannabinol) beverage manufacturer announced the launch of passion peach made first-of-its-kind cannabis infused caffeinated social tonic. The manufacturer launched this product line to offer all natural caffeine with micro dose of THC (tetrahydrocannabinol) to the consumers those who wants alternatives for alcohol.
  • In May 2021, Molecule Holdings INC., a Canada based craft-focused cannabis beverage production company introduced molecule crafted cannabis infused craft beverage portfolio in Canada. These beverages are low in calories and available in various exotic and bold flavours.
  • In November 2021, Molecule Holdings Inc., a Canada based craft-focused cannabis beverage production company launched Canajo, the coffee-flavoured cannabis beverage. This new product portfolio contains coffee-inspired flavours with an assortment of THC (tetrahydrocannabinol) and CBD (Cannabidiol) levels designed for the various variety of cannabis users.

Table of Content

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

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