Global Cannabis Infused Drinks Market Anticipated to Accelerate At 438% CAGR
Posted by Arslan on September 23rd, 2019
The report studies the cannabis infused drinks market worldwide, especially in North America, Europe, Southeast Asia, India and Other Regions with production, size, growth, revenue, consumption, import and export in these regions. In order to study the various trends and patterns prevailing in the concerned market, Fact.MR has included a new report on cannabis infused drinks market to its wide online database including upcoming trends and market growth factors through 2029. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants.
Global sales of cannabis infused drinks will surpass US$ 200 Mn in 2019, propelled by growing efficiencies in the delivery methods of drinkables, along with increasing discretion and social acceptance of the consumption method, in contrast to smoking cannabis. Broader legalization of marijuana has led big alcohol producers to pivot to pot in the recent past. Cannabis infused beer continues to account for leading shares of the market, approximately 80%, which can be attributed to the strong perception of leading beer brewers that intersection between cannabis-infused functional beverages and beer makes a good business sense. The US will remain the leading market for cannabis infused drinks, as leading manufacturers focus on creating safer ways of ingesting cannabis for consumers, while the start-ups continue to scramble for capitalizing on demand through new range of cannabis-infused beverages. Canada is expected to be the high-growth market for cannabis infused drinks, with gains primarily driven by the recent federal legalization of marijuana.
What are the Key Growth Drivers of Cannabis Infused Drinks Market?
Cannabis Infused Drinks Market- Competitive Landscape
The competitive landscape of the cannabis infused drinks market continues to face the turmoil of regulations on the sales and consumption of cannabis. Cannabis infused drinks market in Canada is expected to grow at an impressive pace, in line with the existing favorable federal regulations that back the sales of cannabis in the region. Alcohol industry giants are buying into the ‘potent potable pot’ concept, however key issues prevail, such as the maze of laws that deal with beer and pot. Following the legalization of marijuana in Canada, beverage companies have increased the production of cannabis infused drinks in different flavors to tap growing demand from enthusiasts.
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End-User Preference Remains High for CBD Cannabis Infused Drinks
The demand for CBD-based cannabis infused drinks is growing significantly among canna-curious novice users who want discreet, convenient, and controlled dose of cannabis. Although both THC and CBD cannabis infused drinks contain a plethora of medicinal and therapeutic benefits, the benefits of the latter and its non-psychoactive property continue to attract more enthusiasts. With a capacity to create a ‘high’ without any health risks that are associated with smoking is adding considerably to the sales of CBD-based cannabis infused drinks. This study estimates that gains from CBD cannabis infused drinks will continue to comparatively larger in the market.
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About the AuthorArslan
Joined: December 18th, 2017
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