Global Cannabis Beverage Market to Surpass US$ 2743.7 Million by 2027 - Coherent Market Insights

▴ Coherent Market Insights
The global cannabis beverage market was valued at around US$ 205 million in 2018, and is expected to exhibit a CAGR of 38.3% over the forecast period (2019-2027).

The global cannabis beverage market has witnessed rapid growth in terms of value and volume, in the past few years. Increasing penetration of cannabis-based products in the market, owing to the rising awareness among consumers regarding the medical and therapeutic benefits of cannabis is expected to favour the market growth. On account of the rise in the consumption of cannabis, market players are developing food products infused with cannabis extracts. These include cannabis-infused beverages which are healthier alternatives to common methods of cannabis consumption such as smoking and vaping.

The global cannabis beverage market is expected to exhibit a CAGR of 38.3% over the forecast period (2019-2027). Increasing demand for cannabis-infused food & beverage products and increasing focus on offering new cannabis beverages which contain organic ingredients are expected to drive the market growth during the forecast period. This is mainly due to increasing health concerns as well as awareness regarding calorie-intake among consumers.
On the basis of the distribution channel, the global cannabis beverage market is segmented into convenience stores, hypermarkets, supermarkets, and online. Among these, the online segment accounted for a significant market revenue share in the global cannabis beverage market in 2018, owing to enhanced convenience and availability of varied product choices. Legalization of cannabis in different countries such as U.S., Canada and Mexico, for both recreational and medicinal purposes, has created better opportunities for licensed supermarkets and hypermarkets to display their cannabis-based products without restrictions.
Among region, the market in Europe is expected to witness for substantial growth in terms of value in the next few years. Governments in countries such as Germany, France, Italy and others have legalized the use and possession of cannabis-based products for medical purposes. Increasing social acceptance for cannabis beverages over alcohol among consumers is expected to fuel the growth of the global cannabis beverage market in the region in the coming years.
One of the key challenges for manufacturers is to dilute the taste of different cannabis extracts used during infusion. Cannabis possesses a distinct grassy and pungent odour which is required to be weakened by the addition of flavourings, food additives and taste enhancers. Companies are focused on research and development of distillates of the cannabis extracts which can dampen the peculiar flavour and odour of cannabis in the beverages.
Furthermore, several key players are focused on partnerships, in order to expand their presence. For instance, in Jan 2020, High Tide Inc., a Canadian based, manufacturer and wholesale distributor of cannabis-based products and smoking accessories, acquired Canna Cabana, a supplier of cannabis products in Canada. The acquisition was done with the aim of increasing High Tide Inc.'s market presence in the retail sector.

Tags : #cannabisbeverage #cannabis #fused #foods #cannabisextract #medicircle

About the Author


Team Medicircle

Related Stories

Loading Please wait...
-Advertisements-


Trending Now

PM addresses the Nation today, announces free vaccinesJune 07, 2021
Why inhalers are best for treating asthma, well illustrated by Dr. Anil SingalMay 12, 2021
Dr. Rohan Palshetkar shares his invaluable insights about the Maternal Mortality Rate causes and improvements in India April 29, 2021
It is important to adopt a non-judgmental attitude towards any teenage girl seeking contraceptive advise suggests Dr. Teena Trivedi, Obstetrician and GynecologistApril 16, 2021
80% of the diseases are psychosomatic which means they have roots in the mind and this is where homeopathy steps in - It resolves physical ailments by finding the cause in the mind – Dr. Sanket Dhuri, Consultant Homeopath April 14, 2021
A futuristic Vision of a Healthcare Entrepreneur: Shyatto Raha, CEO, and Founder of MyHealthcareApril 12, 2021
Saher Mehdi, Founder and Chief Scientist at wellOwise talks about aspects making healthcare more equitable and reachableApril 10, 2021
Wide variety of therapies to address autism in children explained by Dr. Shilpa Jasubhai, Clinical PsychologistApril 09, 2021
Allopathic and Homeopathic medicines should not be taken together says Dr. Sunil Mehra, Homeopath ConsultantApril 08, 2021
The charm of homeopathic medicine is that it can be taken with conventional medicines – Dr. Shruthi Shridhar, Consulting Homeopath April 08, 2021
Dissociative Identity Disorder and associated concepts explained by Dr. Vinod Kumar, Psychiatrist and Head of Mpower - The Centre (Bangalore) April 07, 2021
Dissociative Identity Disorder explained by Dr. Shilpa Jasubhai, Clinical PsychologistApril 05, 2021
Sehat Ki Baat, Karishma Ke Saath- Episode 6 Healthy Diet For Boosting Metabolism Which Can Help Thyroid Patients April 03, 2021
Significant Pointers on Kidney Health by Dr. Santosh Waigankar, Consultant Urooncologist and Robotic Surgeon at Kokilaben Dhirubhai Ambani HospitalApril 01, 2021
Dr. Vaishal Kenia, Ophthalmologist Talks About the Different Possibilities Available for the Treatment of Glaucoma Depending Upon Their Type and SeverityMarch 30, 2021
No Definitive Role of Diet in Treatment of Lymphedema but Intake of Calories, Salt and Long Chain Fatty Acids should be controlled says Dr. Ramani CVMarch 30, 2021
Dr. Kiran Chandra Patro, Senior Nephrologist Talks About Dialysis as the Temporary Process and Not a Permanent Cure for the Patients of Renal DysfunctionMarch 30, 2021
Two out of three new chronic kidney disease patients are found to have diabetes or hypertension informs Dr. Sreeharsha HarinathaMarch 30, 2021
Glaucoma Treatment: Medications or Surgery? A valuable piece of advice from Dr. Pranay Kapdia, Chairman and Medical Director of Kapadia Eye CareMarch 25, 2021
Dr. Shraddha Satav, Consultant Ophthalmologist Recommends that Everybody After 40, Should Go for the Complete Eye Checkup at Regular IntervalMarch 25, 2021