Infusion of hemp seeds, cannabis terpenes, cannabis flower, and CBD produces cannabis-based alcoholic beverages. Alcoholic beverages like vodka, whiskey, wine, absinthe, beer, and gin are some of the cannabis-based alcoholic beverages widely available in the market. With the rising demand for these drinks, several manufacturers are including CBD and THC as a key ingredient in their new range of beverages such as soda, cider, and margaritas.
The global cannabis-based alcoholic beverages market is experiencing a major hike due to several factors such as increased research and development activities in the healthcare industry and improved awareness regarding alcoholic and other wellness drinks among the global population. Companies are introducing new flavors with the inclusion of more cannabis-based ingredients. According to research, cannabis-based alcoholic drinks are effective in treating seizures, chronic pain, anxiety, psychotic ailments, cancers, epilepsy, neurological diseases, and insomnia. This is likely to boost the growth of the global cannabis-based alcoholic beverages market. Nevertheless, the governments in several nations have imposed a strict ban on cannabis and its products, like India. This factor is estimated to reduce the development of the global market.
The global cannabis-based alcoholic beverages market is widely divided on the basis of application, product type, and region. In terms of application, the market is segregated into online stores, hypermarket & supermarkets, convenience stores, and so on. Based on product type, the global cannabis-based alcoholic beverages market is classified into cannabis-infused spirits, cannabis-infused wines, and cannabis-infused beers.
Geographically, the North America region is foreseen to register the highest growth in the global cannabis-based alcoholic beverages market during the forecast period. This growth is credited to the emergence of several manufacturers in the abovementioned region with changing preferences among the consumers regarding the consumption of alcoholic beverages in the nations such as Canada and the US. Besides, many companies are investing significantly in the research & development and overall healthcare industries, leading to the acceleration in the global cannabis-based alcoholic beverages market.
In addition, the nations such as New Zealand and the UK are expected to legalize the consumption of cannabis in a particular form for recreational and medicinal purposes in the coming years. In fact, several countries such as Czech Republic, Italy, and Germany have already legalized the consumption. This is estimated to uplift the market growth in the future.
The global cannabis-based alcoholic beverages market is foreseen to represent a concentrated scenario. The increasing acceptance of cannabis is foreseen to provide several growth avenues for the players. MJ Wines LLC, NABC, Inc., Klosterbrauerei Weißenohe GmbH & Co.KG, Rebel Coast Winery, Wine & Cannabis, and Winabis are among the key players reigning in the global market. As per the recent report, a well-known player, Canopy Growth started its sales of Quatreau in the US. It is sparkling water infused with CBD. It aims to bring the range on shelves in the second half of this year.
Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.