Cannabi s Infused Drinks Market Predicted to Grow at 37.8% CAGR, Reaching $8.7 Billion by 2032

The cannabi s-infused drinks market is expected to surge from its current estimate of US$ 400 million in 2022 to US$ 8.7 billion by 2032. This remarkable growth is driven by a projected increase in demand, with a compound annual growth rate (CAGR) of 37.8% over the forecast period from 2022 to 2032. By the end of 2032, it is predicted that non-alcoholic infused drinks would hold a market share of over 50%. To address the rising demand for these beverages, a large number of new producers of beverages infused with cannabi s have entered the market. From 2016 to 2020, sales of products infused with cannabi s increased noticeably at a CAGR of 15.1%, reaching US$ 260 million in 2021.

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Key Driving Forces Accelerating the Market Growth

The cannabi s-infused drinks market has been experiencing significant growth due to several key driving forces. One of the primary drivers is the legalization of cannabi s for medical and/or recreational use in various countries and states. As more jurisdictions embrace cannabi s legalization, the potential consumer base for cannabi s-infused beverages expands significantly. In the US, despite the national prohibition, numerous beverage companies are incorporating cannabi s into their business portfolios, reflecting a strategic shift to capitalize on this burgeoning market. Consumer preferences and attitudes toward cannabi s are also evolving, with many individuals seeking alternative methods of consumption beyond traditional smoking or vaping. cannabi s-infused drinks offer a discreet, convenient, and socially acceptable way to consume cannabi s, making them appealing to a wider audience.

Additionally, the increasing interest in health and wellness has influenced the demand for cannabi s-infused drinks. Consumers are looking for healthier alternatives to traditional alcoholic beverages, and cannabi s-infused drinks provide a potentially lower-calorie and alcohol-free option. The potential therapeutic benefits of cannabinoi d, such as c b d (cannabidiol), have particularly attracted health-conscious consumers. The market has also witnessed significant product innovation, with companies developing a diverse range of cannabi s-infused beverages. These products include c b d-infused sparkling waters, (tetrahydrocannabinol)-infused beers, cannabi s-infused teas, and functional wellness drinks with various cannabinoi d formulations. This product diversification and differentiation have not only expanded the market but also attracted new consumer segments, further accelerating the growth of the cannabi s-infused drinks market.

List of Key Companies Profiled in The Report

CAN
Artet
The Alkaline Water Company
Phivida Holdings Inc.
Koios Beverage Corporation
VCC Brands
Others
Vital indicators shaping the future of the industry

As more states and provinces legalize cannabi s for recreational and/or medical use, new markets and opportunities for cannabi s-infused drinks emerge. Monitoring regulatory developments, licensing requirements, and product restrictions in various geographies, particularly in North America, will be crucial in shaping the industry's future. Regional preferences for flavors, dosages, and product formats, influenced by health consciousness, wellness trends, and lifestyle choices, will drive consumer demand for these beverages. North America is a hub for significant research and development in the cannabi s industry, where ongoing studies into cannabi s compounds, formulations, and delivery methods will shape the future of cannabi s-infused drinks. Staying informed about scientific advancements and engaging in collaborative research initiatives will enable companies to create innovative and differentiated products tailored to the North American market.

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Competitive Landscape

The competitive nature of the cannabi s-infused drinks market is influenced by recent uncertainties surrounding cannabi s sales and corresponding regulations. In Canada, the industry is poised for noticeable growth due to favorable federal rules, stimulating product sales. To gain a competitive edge, companies are leveraging novel technologies and aligning with beverage industry trends to create unique variations.

One prominent player in the market is CAN, known for its simplicity and wide accessibility. This cannabi s drink includes carbonated water, agave juice, aromatic oils, and Californian cannabi s extract, offering regulated effects with 4mg c b d and 2mg tetrahydrocannabinol. Another notable option is Artet, a non-alcoholic beverage that seamlessly blends cannabi s sociability with cocktail culture. Available in various flavors, each containing 37.5mg tetrahydrocannabinol divided into fifteen shots of 2.5mg tetrahydrocannabinol, Artet's beverages are particularly suitable for first-time cannabi s users.

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This release was published on openPR.