Cannabis Beverage Market, by Product Type (Alcoholic (Beer, Spirits and Wine) and Non-alcoholic (Marijuana Tea, Cannabis Soda, and Cannabis Coffee & Cold brew)), by End-Use (Household, and Restaurants & Cafes), by Distribution Channel (Convenience stores, Hypermarkets, Specialty, and Online Retail), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Cannabis is psychoactive drug derived from the cannabis plant which belongs to Cannabaceae family. It is also commonly known as marijuana and is used for both therapeutic treatments and recreational purposes. Since ancient times, cannabis was cultivated by people, owing to its well-known medicinal benefits. Cannabis is usually consumed in form of vapors and sometimes it is infused in food products like brownies and cookies. The rise in consumption of cannabis among consumers around the world has led to the development of cannabis infused beverage products.
Market Dynamics
Although the medicinal benefits of cannabis are well known, the market growth is still driven by consumers who use cannabis for recreational purposes. Companies involved in production of cannabis beverages are focused on preparing emulsifications for cannabis in order to meet the consumer requirements for quick and instantaneous effects of cannabis after dosage. These emulsifications help in achieving the proper suspension of cannabis into liquids.
The rising trend for consumption of healthy and dietary beverages among customers has witnessed growth in the food & beverage industry. Health conscious consumers are shifting their preferences towards using clean and organic ingredient based food products which have additional nutritional benefits. This scenario has led to the acceptance of beverages fused with cannabis as a substitute for cannabis smokers.
Among product type, the global cannabis beverage market is segmented into alcoholic and non- alcoholic beverages. Non-alcoholic cannabis beverages includes different products in which cannabis can be infused such as cannabis coffee, cannabis soda, and marijuana tea.
Cannabis has been legalized by governments in some countries such as U.S., Canada, and others for both medical use and recreational purposes. However, the cannabis market still faces challenges due to the implementation of stringent regulations in many other regions. Key factors that halt the approval of the product and its launch into market include strict testing processes, safety standards, and labelling mandates.
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