Global CBD Water Market - 2023-2030

Global CBD Water Market - 2023-2030

Global CBD Water Market reached US$ 3.14 billion in 2022 and is expected to reach US$ 4.92 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2023-2030.

The market is witnessing a surge in consumer awareness about CBD and its potential health benefits. Consumers are seeking CBD-infused products as information about the non-psychoactive nature of CBD becomes more widely known, including CBD water, contributing to the market's growth. CBD water is positioned as a functional beverage with potential wellness benefits, aligns with this trend, and is gaining popularity in the market.

The market in North America is influenced by the increasing legalization and acceptance of CBD products, including CBD water. Companies are actively engaged in marketing campaigns, providing consumers with information about CBD's non-psychoactive nature and its potential wellness properties. This educational focus contributes to increased consumer awareness and adoption of CBD water in the region.

For instance, in February 2020, Cloud Water Brands strengthened its position in the CBD water market by unveiling a new flavor, Aztec Chocolate & Strawberry, as part of its product offerings. The company strategically expanded its distribution reach by forming partnerships with key distributors, including Big Geyser in the New York metro area, distributors in southern California, and Sysco in Florida.

Dynamics

Increasing Consumer Awareness about CBD

The global CBD water market is poised for significant growth, largely propelled by increasing consumer awareness about CBD and its potential health benefits. As consumers become more informed about the therapeutic properties of cannabidiol (CBD), the demand for CBD-infused products, including CBD water, is expected to surge. This rising awareness is a key factor driving market expansion.

Companies operating in the CBD water market are actively engaging in campaigns to educate consumers about the therapeutic properties of CBD and how incorporating it into a water format can offer a convenient and accessible means of consumption. This marketing strategy contributes to the overall growth of the CBD water market by creating a more informed and receptive consumer base.

Rising Demand for Functional Beverages

Consumers are actively seeking beverages that offer not only hydration but also additional health benefits. Functional beverages, including those infused with CBD, are perceived as a convenient and enjoyable way to incorporate wellness-enhancing elements into daily routines. This heightened demand for functional beverages in the market is directly influencing the growth trajectory of CBD water.

The convergence of the growing interest in functional beverages and the therapeutic properties associated with CBD is shaping the market landscape and contributing to its expansion. As consumers become more health-conscious and seek alternatives to traditional sugary or caffeinated drinks, CBD water emerges as an attractive option, contributing to its rising popularity in the market.

For instance, on May 8, 2023, Naka, the French beverage start-up, introduced its latest product, Naka Moonlight, marking the launch of its cannabidiol (CBD) drinks. Each can of this beverage contains 30 mg equivalent CBD, aiming to promote relaxation and encourage reduced alcohol consumption. The artistic design of the can was brought to life and realized through Naka's collaboration with the French graphics team at Ardagh Metal Packaging.

Increasing Regulatory Uncertainty

The uncertainty in regulatory frameworks may result in hesitancy among consumers and retailers to fully embrace CBD water products. Concerns about legality, quality standards, and potential changes in regulations can lead to a cautious approach to adopting and promoting CBD water. This cautionary stance within the market may limit the widespread acceptance and mainstream integration of CBD-infused beverages.

The lack of clarity in regulations can impede investment and innovation within the CBD water market. Companies may face obstacles in securing investments due to the perceived risks associated with regulatory uncertainties. This, in turn, can slow down research and development efforts, hindering the introduction of new and improved CBD water products to the market.

Segment Analysis

The global CBD water market is segmented based on type, source, distribution channel, and region.

Growing Availability Accessibility and Versatility of Wheat Steak

Hemp emerged as a primary source of cannabidiol (CBD) for the production of CBD water. Its abundance of CBD content made it a preferred choice for market players, enabling the creation of high-quality CBD-infused beverages. Hemp offered versatility in formulations, allowing for the development of diverse and innovative CBD water products. This adaptability enabled companies to cater to varying consumer preferences and needs, contributing to the segment's market dominance.

The perceived health benefits associated with hemp-derived CBD contributed significantly to its market share. Consumers are drawing to the natural and holistic attributes of hemp, aligning with the broader trend of seeking wellness-oriented products. Hemp-derived CBD products, including CBD water, became widely accessible in the market. The segment's accessibility, both online and through various retail channels, facilitated its dominance and contributed to its prevalence in the global CBD water market.

Geographical Penetration

Increasing Consumer Awareness and Innovations of CBD Water in North America

North America is dominating the global CBD water. The region is among the early adopters of CBD-infused products, including CBD water. This early market entry allowed the region to establish a robust presence and gain a competitive advantage in terms of product development and consumer awareness. The regulatory environment in North America, particularly in the United States and Canada, is relatively more conducive to the growth of the CBD market.

North American consumers exhibited a high level of awareness and acceptance of CBD-infused products. This positive consumer sentiment, coupled with a growing interest in health and wellness, contributed to the widespread adoption of CBD water in the region. Companies in the region are quick to introduce new flavors, formulations, and packaging strategies, keeping the market dynamic and appealing to a diverse consumer base.

COVID-19 Impact Analysis

The CBD water market faced disruptions in the supply chain due to restrictions on movement and transportation, impacting the sourcing of raw materials and distribution of finished products. With lockdowns and restrictions implemented globally, many retail outlets, including health and wellness stores, faced closures or reduced foot traffic, affecting the sales and visibility of CBD water products.

The pandemic heightened awareness about health and wellness, leading consumers to prioritize products that offer potential health benefits. CBD water, with its perceived wellness attributes, could capitalize on this trend. As physical stores faced challenges, there was a notable surge in online shopping. CBD water brands with a strong online presence or those adapting quickly to e-commerce channels had the opportunity to reach consumers directly.

Russia-Ukraine War Impact Analysis

The conflict disrupted the global supply chain, leading to shortages of key ingredients for CBD water production. This resulted in increased production costs and, consequently, fluctuations in market prices. Geopolitical tensions contributed to global economic uncertainty. Consumers adjusted their spending habits, leading to fluctuations in demand within the CBD water market based on consumer confidence and purchasing power.

The conflict influenced currency exchange rates, impacting international trade within the CBD water market. Fluctuations in currency values affected the cost of importing and exporting CBD water products, influencing market dynamics. The war influenced the global investment climate, affecting funding and investment flows into the CBD water market. Companies seeking capital for expansion or innovation encountered challenges in securing investments.

By Type
• Industrial Hemp-Derived
• Medical Marijuana-Derived

By Source
• Marijuana
• Hemp

By Distribution Channel
• Offline
• Online

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On April 6, 2023, Sappe announced an innovative functional beverage infused with Cannabidiol (CBD) extract, branded as ""SAPPE Keaf."" This groundbreaking line introduces two enticing flavors: SAPPE CBD Water Vitamin B Complex and SAPPE CBD Water Chamomile. SAPPE CBD Water stands out as a health-conscious beverage, boasting zero sugar, zero energy, and being entirely fat-free.
• On October 4, 2021, Karma Water introduced Karma CBD Water as the inaugural CBD beverage within its wellness and probiotic waters portfolio. Developed in collaboration with Canopy Growth Corporation, a globally renowned cannabis and hemp company, Karma CBD Water stands as a pioneering addition. This innovative beverage is formulated with Canopy Growth's Broad Spectrum CBD distillate derived from US Hemp Biomass.
• On October 6, 2020, Lighthouse Innovation Incubator launched CarryOn, a fresh range of CBD sparkling waters. CarryOn comes in two distinct blends, Elevate and Descend, both enriched with vitamins C and E. Notably, these beverages boast no added sugar and a mere 10 calories per 11.5-ounce can.

Competitive Landscape

The major global players in the CBD water market include Dime Water, Inc., Water for Living LLC, Altum Asia Limited, Fusion CBD Products, Canna Nano CBD, Cannabinoid Creations, BIOTA Biosciences LLC, CannaGlobe, LLC, Karma Culture LLC, and Liquid 4 Life.

Why Purchase the Report?
• To visualize the global CBD water market segmentation based on type, source, distribution channel, and region, as well as understand critical commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous CBD water market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of critical products of all the major players.

The global CBD water market report would provide approximately 62 tables, 49 figures, and 213 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies