Global Cannabis Beverage Market Outlook, 2029

The Global Cannabis Beverage market is anticipated to cross USD 1.5 Billion by 2029, driven by the increasing acceptance of cannabis-infused products.

The global cannabis beverage market refers to the industry focused on the production and distribution of non-alcoholic beverages infused with cannabis extracts or derivatives. These beverages offer consumers an alternative way to consume cannabis, providing a smoke-free and discreet option. The market has gained significant attention in recent years as cannabis legalization efforts have expanded, creating new opportunities for cannabis-based products. Cannabis beverages come in various forms, including CBD-infused beverages (non-psychoactive) and THC-infused beverages (psychoactive). According to the research report, “Global Cannabis Beverage Market Outlook, 2029” published by Bonafide Research, the market is anticipated to cross USD 1.5 Billion by 2029.The global cannabis beverage market has witnessed substantial growth, driven by factors such as changing consumer preferences, increasing acceptance of cannabis products, and the emergence of innovative beverage formulations. Shifting consumer preferences, expanding legalization efforts, and product innovation are driving market dynamics. Companies that capitalize on these trends, invest in research and development, and navigate regulatory challenges have the potential to establish themselves as leaders in this emerging market. The market is projected to witness increased investment, product innovation, and collaboration between beverage companies and cannabis producers. Technological advancements in formulation, production, and packaging will enhance the quality, taste, and consistency of cannabis beverages, further driving market growth.

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Market Drivers Shifting Consumer Preferences: Consumers are gravitating toward cannabis beverages as they offer a smoke-free, discreet, and socially acceptable method of cannabis consumption. Expanding Cannabis Legalization: The increasing number of countries and states legalizing cannabis for medical and recreational use is opening new markets and driving demand for cannabis-infused products, including beverages. Product Innovation and Differentiation: The market is witnessing continuous product innovation, with companies developing unique flavors, formulations, and packaging to cater to diverse consumer preferences. Wellness and Functional Benefits: Cannabis beverages are being marketed for their potential health benefits, such as pain relief, stress reduction, and relaxation, attracting health-conscious consumers seeking alternative remedies. Market Restraints

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Manmayi Raval

Manmayi Raval

Research Consultant

Regulatory Challenges: The legal and regulatory landscape surrounding cannabis varies across countries and regions, posing challenges for market expansion and product distribution. Product Standardization: Achieving consistent dosing and taste profiles in cannabis beverages can be challenging, requiring advancements in formulation technology and quality control. Limited Market Access: Some regions have strict regulations on cannabis products, including beverages, which restrict market penetration and hinder growth opportunities. Market Trends Growing Acceptance and Legalization: The increasing acceptance of cannabis for medicinal and recreational purposes, along with expanding legalization efforts, is driving market growth and fueling product innovation. Health and Wellness Focus: Consumers are seeking cannabis beverages as a healthier alternative to traditional alcoholic and sugary beverages, leading to the development of low-calorie, functional, and wellness-focused formulations. Collaboration and Partnerships: Beverage companies are partnering with cannabis producers and leveraging their distribution networks to enter the cannabis beverage market, facilitating market expansion and diversifying product portfolios.

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Manmayi Raval

Based on the report, the Type segment segmented into Alcoholic & Non- Alcoholic. Non Alcoholic segment is leading in the Cannabis Beverage market due to rising health concerns among consumers. The cannabis beverage market is experiencing significant segmentation based on product types, particularly between alcoholic and non-alcoholic offerings. Notably, the non-alcoholic segment has emerged as the leader in this dynamic market landscape. This shift is largely attributed to a rising tide of health-conscious consumer preferences, where individuals are increasingly opting for non-alcoholic alternatives that offer the perceived health benefits of cannabis without the drawbacks associated with alcohol consumption. The non-alcoholic segment within the cannabis beverage market caters to a diverse consumer base seeking functional beverages that align with wellness trends. These products often highlight attributes such as natural ingredients, lower calorie content, and purported health benefits derived from cannabinoids like CBD (cannabidiol) or other cannabis derivatives. This trend reflects broader societal shifts towards mindful consumption and holistic health practices, where consumers are prioritizing products that support overall well-being.The Key factors driving the growth of the non-alcoholic cannabis beverage segment include regulatory changes favoring cannabis legalization in various regions, which have opened up opportunities for innovative product development and market expansion. Moreover, the increasing prevalence of cannabis-infused beverages in retail channels and online platforms has facilitated greater accessibility and consumer adoption. Challenges persist within the non-alcoholic cannabis beverage market, including regulatory complexities surrounding the use of cannabis derivatives in food and beverage products. Companies operating in this space must navigate stringent regulations governing ingredient sourcing, manufacturing processes, labeling requirements, and marketing practices to ensure compliance and consumer safety. The non-alcoholic segment of the cannabis beverage market is poised for continued growth driven by ongoing research into cannabis-based wellness benefits, expanding distribution networks, and strategic partnerships within the beverage industry. As consumer awareness and acceptance of cannabis-infused products continue to evolve, stakeholders are expected to capitalize on these trends by introducing innovative formulations and enhancing product accessibility, thereby shaping the future trajectory of this burgeoning market segment. North America is leading the Cannabis Beverage market due to early legalization efforts in North American countries, while the Asia-Pacific (APAC) region is the fastest-growing region driven by changing government regulations & increasing acceptance of cannabis products. North America's leadership could be attributed to early legalization efforts in various states and Canada, which have created a more mature market with established brands and distribution networks. Additionally, consumer acceptance and familiarity with cannabis-infused products, including beverages, have contributed to market growth. Whereas, in APAC, the fastest growth might be influenced by changing regulations and increasing acceptance of cannabis products for medicinal or recreational purposes in certain countries. Rising consumer awareness, coupled with expanding disposable incomes and a growing interest in wellness products, could also be driving factors. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Cannabis Beverage Market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type • Alcoholic • Non- Alcoholic By Component • Cannabidiol (CBD) • Tetrahydrocannabinol (THC) By Distribution Channel • Online Retail • Specialty Stores(like - licensed Dispensaries) • Mass Merchandiser (Grocery store, Convenience stores ) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Cannabis Beverage industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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Global Cannabis Beverage Market Outlook, 2029

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