Cannabis-Based Beverages Market is Growing at a CAGR of 15.4%, and the Growth is Influenced by Legalizing Medical Cannabis and Increased Demand for Wellness Drinks | Reports and Data

​​The legalization of recreational or medical cannabis, the increased demand for wellness drinks and the vigorous technological and information exchange about legal marijuana is boosting the market for cannabis-based beverages.

The Global Cannabis-based Beverages Market is forecast to reach USD $5.04 billion by 2026, according to a new report by Reports and Data.

The market expansion of cannabis-based beverages has occurred due to a combination of various factors. One of the fundamental elements in this context has been the initiative of legalizing the use of cannabis for medical usage in 30 countries. Apart from that, certain nations are taking action and legalizing the use of marijuana for recreational purposes. Such an initiative of legalizing the use of cannabis is acting as a significant driver for this market.    

Apart from the mentioned driving factor, there has been an increase in the use of cannabis in treating various health conditions, like neurological disorders, psychiatric disorders, and cancer and pain control. It is also observable that consumers have an increased demand for wellness drinks. Such diverse applicability of cannabis results in having a significant, positive impact on the demand for cannabis-based beverages, making a further contribution to its market growth. Major investors and key players of this industry are considering this area to be a lucrative market. As a result of this, they are increasing their investments in this market, which is also contributing to its growth.

In regards to region, North America is seen to be dominating the market because of its quick acceptance of this form of beverage, increased investments in the healthcare and wellness sector and the presence of consumers in this region who wants to experience smoke-free cannabis. A large amount of investment in R&D and mergers are also promoting the growth of this market in this region.

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Further key findings from the report suggest

• Other than legalizing the use of cannabis, its applicability in treating different health conditions and the rise in private and public investments for R&D to promote a safer form of consuming marijuana is also acting as a driving factor for the market. The cannabis-based beverages market held a market share of USD $1.57 billion in the year 2018 and is forecast to grow at a rate of 15.4%.
   
• The fact that this form of beverage contains clean ingredients, low sugar content and the measured quantity of cannabis is also promoting the growth of the market.
   
• In context to product type, the largest market share is held by the non-alcoholic segment that occupied 57% of the market share in 2018, and it is forecast to witness a growth rate of 15.6% during the forecast period.
   
• In the end-user segment, Hotels, Restaurants and Cafes (HoReCa) hold the largest market share, and they are forecast to maintain their market dominance. They are forecast to hold 57% of the market share by 2026, with a CAGR of 15.1%. The reason for their market dominance is different regulations that regulate the consumption of cannabis beverages, which makes it difficult to be used in the household segment. Due to this, HoReCa gets an advantage in the market.
   
• In the context of the end-user segment, the highest growth rate is forecast to be witnessed by the household segment. Its high-growth rate is because of the legalization of cannabis use for medical purposes. An initiative of legalizing cannabis for recreational use is forecast to have a positive impact on this segment.
   
• In the distribution channel segment, business-to-consumers (B2C) held the larger market segment of 53% in the year 2018. It is forecast to witness a growth rate of 15.1%.
• In the distribution channel, business-to-business (B2B) is forecast to witness a higher growth rate of 15.7% during the forecast period. It is because of the increased rate of investment in this industry that resulted in boosting the growth rate of this segment.
   
• In the context of application, recreation holds the larger market segment, which is forecast to hold 72% of the market share by 2026, with a CAGR of 15.2%. Factors like high availability of cannabis-based beverages for recreational purposes, an initiative of legalizing recreational use of marijuana, resulted in its dominance in the market.
   
• In regards to the component segment, Cannabidiol (CBD) dominates the market, which is forecast to hold 56% of the market share by 2026. Increased preference for non-alcoholic cannabis beverages, in which Cannabidiol (CBD) is an integral element, is what contributes to its market dominance.
   
• North America dominates the market, which is forecast to hold 31% of the market by 2026, with a growth rate of 16.4%. Factors like new consumers who want to experience smoke-free marijuana and an increasing number of companies investing in the healthcare sector and wellness sector in this region are promoting the market in this region.
   
• Key participants include New Age Beverages Corporation, Coalition brewing, Beverages Trade Network, Lagunitas, General Cannabis Corporation, The Supreme Cannabis Company, Koios Beverage Corporation, The Alkaline Water Company, SK Rodnik, Cannabis Energy Drink, and Dutch Windmill Spirits. 

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Segments covered in the report:

For the purpose of this report, Reports and Data have segmented the global cannabis-based beverages market based on Product Type, End-user, Distribution Channel, Application, Component, and Region:                       

Product Type Outlook (Revenue, USD Billion; 2016-2026)

• Alcoholic
• Cannabis-Infused Spirits
• Cannabis-Infused Beers
• Cannabis-Infused Wines
• Others
• Non-Alcoholic
• Marijuana Elixirs
• Marijuana Tea
• Cannabis Soda
• Cannabis Coffee and Cold Brew
• Cannabis-infused vitamin-based energy water
• End-user Outlook (Revenue, USD Billion; 2016-2026)
• Household
• Hotel/Restaurant/Café [HoReCa]

Distribution channel Outlook (Revenue, USD Billion; 2016-2026)

• B2B
• B2C
• Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others

Application Outlook (Revenue, USD Billion; 2016-2026)

• Medication
• Recreation

Component Outlook (Revenue, USD Billion; 2016-2026)

• Cannabidiol (CBD)
• Tetrahydrocannabinol (THC)

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Regional Outlook (Revenue, USD Million; 2016-2026)

• North America
  • U.S.
• Europe
  • U.K.
  • France
• Asia-Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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