Cannabis Infused Drinks Market Projected to Accelerate At 438% CAGR during the Study Period, 2019-20
The global cannabis infused drinks market is projected to register a moderate expansion over the forecast period during 2019 to 2029.
[UKPRwire, Fri Jun 28 2019] In order to dissert the market scenario prevailing across the cannabis infused drinks market sector, FactMR has evenly presented a comprehensive cannabis infused drinks market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the cannabis infused drinks market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.
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- 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?
- Manufacturers of cannabis infused drinks are putting more efforts for creating proper emulsification of THC, in a bid to achieve proper suspension within liquids and quicker uptake time - under 30 minutes. This falls in line with the consumer demand for faster feedback on their dosage, which in turn will favor sales of cannabis infused drinks. Leading beverage companies have taken notice of the ravenous appetite of consumers that exists inside the cannabis culture, thereby transitioning into cannabis infused drinks industry.
- As recreational marijuana legalization continues to become a reality across more U.S. states, individuals have started showing more interest in cannabis-infused drinks. Established beverage companies as well as entrepreneurs are taking a close peek into formulas and methods for infusing CBD or THC or both into beverages.
- Cannabis infused non-alcoholic beer is an emerging trend which is expected to gain significant traction, as companies focus on appealing the health-conscious pool of consumers. For instance, Grainwave is a THC-infused non-alcoholic beer that hit the dispensary shelves in December 2018.
- The novelty of being able to drink THC-infused beverages has gained marked preference in the current adult-use recreational marijuana industry, especially for beverages that mimic beer or wine. While this trend gains pace, manufacturers are exploring the in-demand flavors to reinforce their product sales.
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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