According to Fortune Business Insights in a report, titled “Cannabis Beverages Market Size, Share & Industry Analysis, By Type (Alcoholic and Non-alcoholic), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, and Others), and Regional Forecast 2019 - 2026” The market was valued at USD 173.76 Mn in 2018. Fortune Business Insights states that the market will reach USD 2,050.44 Mn by the end of 2026, thus exhibiting a CAGR of 37.13%.
List of best companies in the global cannabis beverages market included;
- Aurora Cannabis,
- Aphria Inc.,
- Canopy Growth Corporation,
- MedReleaf Corp.,
- Cronos Group Inc.,
- GW Pharmaceuticals, plc.,
- CannTrust Holdings Inc.,
- VIVO Cannabis Inc.,
- Tilray, and
- OrganiGram Holdings.
In addition to the legalization of cannabis for recreational purposes, its use as a medical aid for patients has given a kick start to the cannabis beverages market. Thereby, as the market is expected to gain as an increasing number of food manufacturers include CBD and THC in a variety of beverages. The cannabis beverage market is witnessing high demand as an increasing number of consumers seek robust recreational marijuana for, healthy, innovative and smoke-free experience.
Furthermore, as a result of ongoing trend and changing consumer preference products such as hemp juices, Cannabidiol (CBD) Infused water, CBD Infused tea, Tetrahydrocannabinol (THC) Infused beer, THC Wine, Hemp milk, and Hemp gin are introduced. Hence, the introduction of new concepts by key companies will augment the growth of the global cannabis beverages market.
Rising Demand for Health and Wellness Beverages Will Favor Market Growth
The increasing demand for health and wellness beverages that are infused with bioactive compounds will boost the cannabis beverages market revenue. Swayed by prevailing trends, several key companies are developing innovative beverages. This will, in turn, give impetus to the cannabis beverages market growth. For instance, Caliva, one of the largest vertically integrated cannabis companies in California, acquired Zola, the maker of plant-powered beverages, to expand into the cannabis and hemp-based CBD (hCBD) beverage space.
Moreover, the collaboration among leading players to launch cannabis-infused beverages will also contribute to the global cannabis beverages growth. For instance, Hexo Corp., a licensed producer of cannabis-based in Quebec, Canada, entered a joint venture with Molson Coors Canada to produce CBD-infused beverages. In addition, advancements in the isolation and purification techniques for active ingredients such as nano-emulsification will aid growth of the global cannabis beverages market.
For instance, nano-emulsification provides better formulations and effective nutritional profiles that are in line with the consumer’s acceptance. Moreover, Cost and sensory acceptance of cannabis beverages are factors which will further uplift the global cannabis beverages market shares during the forecast period.
Collaborations and Acquisitions Among Key Players Will Enable Growth
The development of products which resonate consumer’s inclination towards more-natural, minimally-processed and health-promoting drinks has led to the rapid expansion of cannabis beverages market. Leading market players are primarily focusing on developing products infused with THC and CBD alongside providing a variety of beverage options for consumers.
Furthermore, the partnership between leading players to launch flavourful CBD infused beverages will create growth opportunities for the global cannabis beverages market. In addition, collaboration among key companies to establish a cannabis-focused sales brokerage company will also aid the cannabis beverages market growth during the forecast period. For instance, CannTrust inked a strategic partnership with Breakthru Beverage Group to establish a cannabis-focused sales brokerage company.
Browse Complete Report Details with Tables and Figures:
https://www.fortunebusinessinsights.com/industry-reports/cannabis-beverages-market-100738
The "Cannabis Beverages Market" report includes an in-depth analysis of the global Cannabis Beverages market for the present as well as forecast period.
The well-known players in the market are Aurora Cannabis, Aphria Inc., Canopy Growth Corporation, MedReleaf Corp., Cronos Group Inc., GW Pharmaceuticals plc., CannTrust Holdings Inc., VIVO Cannabis Inc., Tilray, OrganiGram Holdings.The company profiles presented in the report include company synopsis, business tactics adopted, and major developments.
Furthermore, The report presents a detailed segmentation Alcoholic, Non-Alcoholic, Market Trend by Application Mass Merchandisers, Specialty Stores, Online Retail, Others of the global market based on technology, product type, application, and various processes and systems.
The report also includes the companies active in product expansions and innovating new advanced technology intending to develop huge opportunities for the Cannabis Beverages market.Apply here for the free sample copy of the Cannabis Beverages Market reportThe report also provides the market dynamics such as drivers, restraints, strategies & guidelines, trends, avenues, and technological improvements anticipated to have an impact on the Cannabis Beverages Market growth in the projected period.
Further, the report also reviews the market in terms of value [USD Million] and size [k. MT] across diverse regions.Read Detailed Research Study at:: https://www.syndicatemarketresearch.com/market-analysis/cannabis-beverages-market.htmlMoreover, the report comprises major developments made in the Cannabis Beverages market.
The report involves the value chain analysis which denotes workflow in the Cannabis Beverages market.
The global cannabis beverages market size is set to gain impetus from the increasing popularity of these products owing to their possession of several functional benefits, such as easy availability, ease of administration, and portion-controlled doses.
Fortune Business Insights™ presented this information in a new study, titled, “Cannabis Beverages Market Size, Share & COVID-19 Impact Analysis, By Type (Alcoholic and Non-alcoholic), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the market size stood at USD 367.4 Million in 2019 and is projected to reach USD 8,521.6 Million by 2027, exhibiting a CAGR of 50.9% in the forecast period.The decline in Sales of Cold Beverages Owing to COVID-19 May Hinder GrowthThe emergence of the COVID-19 pandemic has compelled the regulatory bodies to implement social distancing, sanitization, and stringent lockdown measures for preventing transmission.
We are delivering accurate reports to help you better understand the current scenario of the market.
Drivers & RestraintsRapid Shift of Consumers towards Chemical-free & Natural Trends to Aid GrowthThe consumption of cannabis nowadays is not limited to bongs, pipes, and joints.
Consumers based in the developed countries, especially Europe and North America are persistently striving to shape this sector.
This factor is likely to hamper the cannabis beverages market growth in the near future.SegmentOnline Retail Segment to Dominate Stoked by Ability to Offer Convenience & PrivacyBased on distribution channel, the online retail segment is set to remain at the forefront by generating the largest cannabis beverages market share in the coming years.
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