Cannabidiol is abbreviated as CBD. It is a non-psychoactive ingredient in cannabis that facilitates numerous health benefits with minimum side effects and a low risk of addiction. CBD beverages include everything from cold brew coffee, kombucha, non-alcoholic wine to water. It is extracted from the hemp plant, which is known to be a relative of the marijuana plant. The global CBD beverages market is expected to reach a CAGR of 17.5% by 2028.
Cannabis beverages are gaining immense popularity among people due to their excellent functional benefits, portion control dosages, and ease of administration. The beverage sector globally is experiencing a massive transformation due to the wide inclusion of cannabidiol and associated ingredients & additives. Cannabis is no longer only limited to bongs, pipes, smoking flowers with joints and several others. Such massive demand for cannabis beverages is radically positively impacting the growth of the global CBD beverages market. FDA recently advised an oral cannabidiol solution named Epidiolex for treating patients suffering from different types of seizures.
However, the wide availability of CBD beverages made them available in storefront dispensaries, online stores, convenience stores, and several other retail centers. For instance, Constellation Brands in 2017 agreed with Canopy Growth to manufacture cannabis-infused beverages. Constellation Brands is the third-largest beer manufacturer in the US, while Canopy Growth is the world’s largest marijuana grower.
The global CBD beverages market can be segmented into components, types, and regions.
By component, the market can be segmented into tetrahydrocannabinol and cannabidiol.
By type, the market can be segmented into non-alcoholic and alcoholic. The non-alcoholic segment accounts for the largest share in the global market due to the growing demand for cannabis beverages as wellness drinks among consumers.
North America accounts for the largest share in the global CBD beverages market due to the growing legalization of cannabis for recreational and medical purposes. In addition, growing awareness among people regarding its health benefit is fuelling the demand for these beverages in the region.
Europe is expected to grow significantly during the forecast period due to the growing numbers of companies operating in the field of wellness drinks. According to the Cannabis Trade Association, CBD users have significantly increased from 125000 in 2016 to 250000 in 2017, particularly in the UK.
Some of the significant players in the global CBD beverages market are Molson Coors Brewing, Alkaline Water Company, HYBT, Love Hemp Water, Phivida Holdings, Sprig, Heineken, American Premium Water, and Canopy Growth Corporation. To cite, New Age Beverages Corporation in 2019 entered into an agreement with Dock light – a division of Privateer Holdings, for a 50-50 profit-sharing partnership to sell marijuana-infused products under the Marley Natural brand.
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