The global cannabis drinks market is set to witness growth, according to a Future Market Insights report. It will grow at a CAGR of 37.3% and top a valuation of $8.3 billion by 2032. Various health benefits, such as improved sleep patterns, weight loss, depression and anxiety reduction, blood pressure regulation, and others are predicted to fuel global cannabis drinks growth over the forecast period (2022-2032).
Furthermore, demand for cannabis drinks is predicted to rise as the use of cannabis for neurological illnesses, epilepsy, cancer and pain management grows. Similarly, the legalization of recreational or medicinal cannabis had a positive impact on the industry.
Hence, several leading companies operating in cannabis drinks market has expanded substantially, enhancing the variety and quantity of products available to end-users. This is expected to increase the demand for cannabis drinks by more than 20-times through 2022 and beyond.
- The cannabis drinks market is worth $0.4 billion sales in 2022 and expands at a CAGR of 3% between 2022 and 2032.
- Global cannabis drinks demand is projected to have year-on-year growth of 2% in 2022.
- India is expected to be the most lucrative cannabis market in South Asia over the assessment period.
- In terms of product type, the alcoholic cannabis-infused drinks segment is expected to record the highest CAGR during the forecast period.
“Cannabis drink sales are increasing from regulated dispensaries, creating a multitude of options for specialized retailers to present appetizing and creative drinks, which are infused with active cannabis. In addition to that, distribution channels, which are allowed to serve cannabis drinks as the go-to place for cannabis-based edibles, are likely to gain momentum in the upcoming decade,” said a Future Market Insights analyst.
The study offers compelling insights based on product type (alcoholic cannabis-infused drinks and non-alcoholic cannabis-infused drinks), component (THC-infused drinks and CBD-infused drinks), flavor (unflavored and flavored) and sales channel (B2B and B2C) across seven major regions of the world.