beverages drinks alcohol

How Big Will The Cannabis Beverages Market Get By 2027?

Pune, India, Nov. 30, 2021 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the global cannabis beverages market size is set to gain impetus from the increasing popularity of these products owing to their possession of several functional benefits, such as easy availability, ease of administration, and portion-controlled doses. The study further mentions that the market size stood at USD 367.4 Million in 2019 and is projected to reach USD 8,521.6 Million by 2027, exhibiting a CAGR of 50.9% in the forecast period.s

Fortune Business Insights™ lists out all the cannabis beverages market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Aurora Cannabis Inc. (Edmonton, Canada)
  • Aphria Inc. (Leamington, Canada)
  • Canopy Growth Corporation (Canada)
  • MedReleaf Corp. (Edmonton, Canada)
  • Cronos Group Inc. (Toronto, Canada)
  • GW Pharmaceuticals, plc. (Cambridge, U.K.)
  • CannTrust Holdings Inc. (Vaughan, Canada)
  • VIVO Cannabis Inc. (Ontario, Canada)
  • Tilray (Nanaimo, Canada)
  • OrganiGram Holdings (Moncton, Canada)

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Online Retail Segment to Dominate Stoked by Ability to Offer Convenience & Privacy

Based on the distribution channel, the online retail segment is set to remain at the forefront by generating the largest cannabis beverages market share in the coming years. E-commerce platforms enable consumers to purchase these types of beverages by providing autonomy, privacy, and convenience regarding the choice of the products. At the same time, specialty stores would showcase greater sales if they display novel products online.

Drivers & Restraints

Rapid Shift of Consumers towards Chemical-free & Natural Trends to Aid Growth

The consumption of cannabis nowadays is not limited to bongs, pipes, and joints. People have a wide range of choices, including infused products and concentrates. The global beverages industry is undergoing a significant transformation with additives and ingredients. Consumers based in developed countries, especially Europe and North America are persistently striving to shape this sector. To do so, they are rapidly inclining towards several trends, such as recognizable and herbal formulations, chemical-free, and all-natural cannabis beverages.

However, the governments of various countries are implementing stringent regulations on the distribution & manufacturing of such tetrahydrocannabinol (THC) products. This factor is likely to hamper the cannabis beverages market growth in the near future.

This Report Answers the Following Questions:

  • Which segment is set to lead the market and why?
  • How will the market be affected amid the COVID-19 pandemic?
  • How many opportunities and challenges is the market likely to come across?
  • What strategies are the key players adopting to strengthen their positions?

Browse a Detailed Summary of 130 Pages Research Report With TOC:

Regional Analysis

Presence of Flourishing Functional Beverage Industry to Favor Growth in North America

Geographically, North America earned USD 335.1 million in terms of revenue in 2019 and is expected to remain dominant throughout the forthcoming years. This growth is attributable to the major contribution of the U.S. as it houses a well-established functional beverage industry. Since the passing of the 2018 U. S. Farm Bill, the demand for hemp-cannabidiol (hCBD) has surged rapidly. On the other hand, Latin America, Oceania, and Asia would exhibit slow growth because of the ban of cannabis beverages in these regions.

Competitive Landscape

Key Players Focus on New Product Development to Gain Competitive Edge

The global market is regulated by certain regulatory bodies worldwide. The market possesses a competitive and dynamic structure. Key companies are focusing on the investment strategy to produce raw material for the development of state-of-the-art cannabis beverages. Some of the others are introducing novel products in the market.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market SegHouseholdtation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview on Global Cannabis Beverages Market
    • Supply Chain & Regulatory Analysis
    • Global Cannabis Beverages Regulatory Analysis
    • Recent Industry DevelopHouseholdts – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Qualitative Analysis (in Relation with COVID-19)
      • Impact of COVID-19
      • Challenges in Supply Chain
      • Efforts to Mitigate the Challenges
  • Global Cannabis Beverages Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Type (Value)
        • Alcoholic
        • Non-alcoholic
      • By Distribution Channel (Value)
        • Mass Merchandisers
        • Specialty Stores
        • Online Store
        • Others
      • By Region (Value)
        • North America
        • Europe
        • Rest of the World

TOC Continued…!

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Below are two latest industry developments:

August 2020: Truss Beverage Co., the joint venture between Hexo Corp and Molson Coors unveiled its latest range of cannabis based beverages in Canada. The five innovative beverages contain varying levels of THC and cannabidiol (CBD). They are non-alcoholic.

August 2020: Canopy Growth Corp is planning to introduce its new cannabis beverages in the U.S. to strengthen its position in the weed beverage sector. The company has licensed rights to its line of beverages to Acreage Holdings Inc.

Have a Look at Related Research Insights:

Cannabis-based Alcoholic Beverages Market Size, Share & Industry Analysis, By Type (Cannabis-based Wine, Cannabis-based Beer, Cannabis-based Spirits), By Distribution Channel (On Trade, Off Trade) and Regional Forecast, 2020-2027

CBD Market Size, Share & COVID-19 Impact Analysis, By Source (Marijuana and Hemp), Application (Food & Beverages, Pharmaceuticals, Pet Care, Cosmetics, and Others), and Regional Forecast, 2020-2027

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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