New York, NY, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cannabis Beverages Market by Type (Alcoholic Cannabis Beverages and Non-Alcoholic Cannabis Beverages), by End-Use (Household and HoReCa), and by Distribution Channel (B2B and B2C): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” . According to the report, the global cannabis beverages market was valued at approximately USD 1,613 million in 2018 and is expected to generate around USD 4,464 million by 2025, at a CAGR of around 15.6% between 2019 and 2025.
Cannabis or marijuana is a budding plant, also known as hemp, belongs to the family of Cannabaceae. For a long time, marijuana was used as a foundation for hemp fiber and oil, which are used for therapeutic purposes and as psychoactive drugs. Currently, the use of cannabis has been extended to consumable drinks called cannabis beverages or drinks. Cannabis beverages are gaining popularity in the market due to the rising demand for wellness beverages by the consumers. This is the primary factor likely to fuel the global cannabis beverages market over the estimated timeframe. Low sugar content, clean ingredients, and an appropriate quantity of cannabis are attracting cannabis smokers toward cannabis beverages, which, in turn, is projected to further drive the global cannabis beverages market in the future. A study revealed that the revenue from the sales of cannabis beverages can outdo the overall demand for cannabis products in the future.
Browse through 54 Tables & 23 Figures spread over 120 Pages and in-depth TOC on “Global Cannabis Beverages Market: By Type, Size, Share, Industry Growth, Applications, Analysis and Forecast, 2018–2025”.
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The global cannabis beverages market is segmented by type, end-use, and distribution channel. By type, the market is segmented into alcoholic and non-alcoholic beverages. The alcoholic cannabis beverages market is further segmented into cannabis-infused beers, cannabis-infused spirits, cannabis-infused wines, and others. The non-alcoholic cannabis market is further segmented into marijuana tea, marijuana elixirs, cannabis soda, and cannabis coffee and cold brew. The non-alcoholic cannabis beverages held the largest share in the global market in 2018, due to the growing demand for smoke-free cannabis and the legalization of cannabis for recreational use.
By end-user, the global cannabis beverages market is categorized into household and HoReCa. The HoReCa (Hotel/Restaurant/Café) segment held the largest share in the global cannabis beverages market in 2018, whereas the household segment is expected to register a higher rate of growth in the upcoming years. The various regulations on the consumption of cannabis beverages are likely to further contribute toward the growth of the HoReCa segment globally. The limited restaurant or hotels serve beverages that contain cannabis in countries that have legalized cannabis.
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By distribution channel, the cannabis beverages market is segmented into B2B and B2C (convenience stores, hypermarkets, specialty stores, online stores, and others). The B2C distribution channel held the major market share globally in 2018.
By region, North America held the major share of the global market in 2018 and is estimated to dominate over the forecast period as well. The growing spending on cannabis beverages is expected to propel this regional market. For instance, in 2016, about USD 180 million was expended on edible drinks and foods containing cannabis in California. This market is mainly driven by new consumers and companies invested in the wellness and healthcare sector that want to offer smoke-free marijuana experience. According to the CDC (Centers for Disease Control and Prevention), among the adults in the U.S., the smoking rates reduced from 20.6% in 2009 to 16.8% in 2014. Moreover, the growing partnership and investments made by various regional companies for the development of cannabis beverages are likely to further propel the growth of this regional market. For instance, in December 2018, AB InBev signed a partnership with Tilary, a Canadian cannabis distributor and producer, to research non-alcoholic beverages containing CBD and THC.
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The companies are planning to invest USD 100 million in the upcoming years for research. Moreover, in August 2018, Molson Coors announced a joint venture with HEXO, a Canadian cannabis producer, to develop non-alcoholic cannabis beverages. The growing demand for cannabis beverages and continuous development for new product development is expected to act as a significant opportunity for the North American cannabis beverages market.
Europe is anticipated to hold the second position in the global cannabis beverages market in the future, owing to the rising investment for cannabis beverages and growing awareness. The Europe-based company, Coca-Cola, is diversifying into the cannabis-infused beverages segment.
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The Asia Pacific and the Middle East and Africa regions are expected to show high growth in the cannabis beverages market over the forecast time period, owing to the increasing footprints of companies in India, Australia, and South Africa for cannabis beverages product development.
Some key players of the global cannabis beverages market are Beverages Trade Network, Coca–Cola, Lagunitas, The Alkaline Water Company, New Age Beverages Corporation, COALITION BREWING, Dutch Windmill Spirits, Heineken, Klosterbrauerei Weißenohe, SK Rodnik, Koios Beverage Corporation, The Supreme Cannabis Company, General Cannabis Corporation, Heineken, Coalition Brewing, Bhang Corporation, and Cannabis Energy Drink.
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This report segments the global cannabis beverages market into:
Global Cannabis Beverages Market: Type Analysis
- Alcoholic
- Cannabis-Infused Beers
- Cannabis-Infused Spirits
- Cannabis-Infused Wines
- Others
- Non-Alcoholic
- Marijuana Tea
- Marijuana Elixirs
- Cannabis Soda
- Cannabis Coffee and Cold Brew
Global Cannabis Beverages Market: End-Use Analysis
- Household
- HoReCa
Global Cannabis Beverages Market: Distribution Channel Analysis
- B2B
- B2C
- Convenience Stores
- Hypermarkets
- Specialty Stores
- Online Stores
- Others
Global Cannabis Beverages Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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