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CBD Beverages Market

CBD Beverages Market Size, Share & Trends Analysis Report

CBD Beverages Market Size, Share & Trends Analysis Report By Type (Non-Alcoholic, Alcoholic), By Application (Convenience Stores, Online Stores, Mass Market, Dispensaries), Based On Region, And Segment Forecasts, 2022- 2028

Published
Report ID : BMRC 412
Number of pages : 300
Published Date : Nov 2022
Category : Consumer Goods
Delivery Timeline : 48 hrs
Single User : $3250

Corporate User : $7999

Executive Summary-

Global CBD Beverages Market was worth of USD 915.60 million in 2021 and it is expected to reach USD 4866.41 million at the end of 2028 with CAGR of 22.7%. CBD is commonly used to address anxiety, and for patients who suffer through the misery of insomnia, studies suggest that CBD may help with both falling asleep and staying asleep. Furthermore, CBD may offer an option for treating different types of chronic pain. A study from the European Journal of Pain showed, that using an animal model, CBD applied on the skin could help lower pain and inflammation due to arthritis. More study in humans is needed in this area to substantiate the claims of CBD proponents about pain control. However, it is used in many industries such as cosmetics, medical make oil, and textiles industry. CBD has been introduced in Ayurveda with many properties. And nowadays CBD is being used to make a wide variety of beverages. It is also getting approval from many government departments. At the same time, CBD beverages are getting a huge response from customers.

Rising awareness of consumers on the wellness of the products and a growing number of health-conscious consumers is driving the growth of the CBD beverage market. Also, consumers’ preference for natural products over pharmaceutical products will also boost the CBD beverage market. Moreover, potential customers of BVD beverages are more willing to spend on legal CBD products, especially baby boomers. The market for CBD beverages in the United States has reached around USD 173.67 Million in 2020. Also, Canada, Germany, U.K. USD 142.81, 50.31 and 40.02 million respectively. The market is expected to grow significantly in the coming period due to growing consumer preferences, as well as awareness of health benefits. The CBD beverages market is expected to earn USD 4866.41 Million by 2028.

In fact, beverages are the format of choice for a growing number of consumers looking for healthy CBD options. “Most of the new product development and innovation has been more focused on RTD (ready-to-drink) beverages, tea, and coffee application areas, “Players have also seen the average CBD dose per serving increase from 5 –15 mg to the 20–40 mg range, which is partially fueled by the cost of CBD dropping as the supply has increased over the last few years.

Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022 - 2028
Market Size in 2021: USD 915.60 Million 
Base year considered 2021
Forecast Period CAGR %:

22.7% 

Market Size Expected in 2028: USD 4866.41 Million 
Tables, Charts & Figures: 175
Pages 200
CBD Beverages Key Players Alkaline Water Company, Canopy Growth Corporation, New Age Beverages Corporation, CannTrust Holdings, CBD Biotechnology Co. Ltd, American Premium Water, Lagunitas, Phivida Holdings, Molson Coors Brewing, Tilray Inc., Aurora Cannabis, Others
Segments Covered By Type, By Application
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

The future of the CBD market appears promising in the upcoming years across the globe for an extended period. Manifold CBD beverages companies are anticipated to implement go-to-market strategies, mergers & acquisitions, and new product launches to remain competitive and meet the escalating demand for CBD beverages. In January, Truss CBD USA—a joint venture between Canadian cannabis company HEXO and Molson Coors Beverage Co. launched its Veryvell line of nonalcoholic sparkling CBD beverages in Colorado in three flavors: Focus (grapefruit tarragon), Mind & Body (strawberry hibiscus), and Unwind (blueberry lavender), with 20 mg CBD. The Non-Alcoholic type of segment of the CBD beverages Market is dominated by the largest market share of 72.82% in 2021. The application segment of the CBD Market is dominated by the largest market share of 35.34% in 2021.

Analyst Comment,” Rocketing awareness of CBD Beverages in terms of revenue was estimated to be USD 915.60 Million in 2021 and is expected to reach USD 4866.41 Million in 2028, growing at a CAGR of 22.7%.

Global CBD Beverages Market Segmentation:

By Type

  • Non-Alcoholic
  • Alcoholic

By Application

  • Convenience Stores
  • Online Stores
  • Mass Market
  • Dispensaries

By Regional & Country Analysis:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

CBD Beverages Market Key Players:

  • Alkaline Water Company
  • Canopy Growth Corporation
  • New Age Beverages Corporation
  • CannTrust Holdings
  • CBD Biotechnology Co. Ltd
  • American Premium Water
  • Lagunitas
  • Phivida Holdings
  • Molson Coors Brewing
  • Tilray Inc.
  • Aurora Cannabis
  • Others

Trends-

Visual Capitalist recently compiled an infographic on the growth potential of the CBD soft drink market, which includes CBD-mixed beverages (coffee, tea, water, kombucha, juice, and sports drinks) as well as CBD-infused beer, wine, and spirits. A comprehensive infographic shared the benefits of these soft drinks and some of the current trends that are making them a strong segment in both soft drinks and CBD markets. Dosage is more controlled, and CBD is more accessible in this form through numerous distribution channels including restaurants and bars, supermarkets, and online retailers.

  1. Consumer preferences are moving away from alcohol and toward cannabis products as evidenced in the ongoing global decline of alcohol sales.

While many consumers enjoy a great beer, wine, or cocktail, they do not always enjoy what they feel the next day. For many people, the older they get, the harder it is for the body to process alcohol, not to mention the high sugar levels that lead to a buildup of calories. As a result, consumers are looking for alternatives to alcohol such as CBD-infused drinks that can provide the same buzz without a hangover or a beer pot.

Furthermore, according to the Brightfield Group's Alcohol Trends and Non-Alcoholic Trends report, consumers are drinking less alcohol than before the epidemic. New every consumer data also showed that almost 60% of American alcohol consumers say they are consuming less alcohol than before. According to Evergi Consumer Data, 11% of consumers who report low alcohol consumption say they are replacing alcohol with CBD drinks. Another 29% of consumers are ""nothing"" instead of alcohol, yet there are plenty of opportunities to keep CBD as the perfect alcohol substitute.

In order for CBD drinks to become a ""non-alcoholic alternative"", they must be included in the alcohol options.

  1. Hydrating with Infused Waters

Drinking water is an important part of a healthy daily routine, but not everyone likes the taste of plain water. For this reason, there are plenty of flavored water, sparkling water, and salts on the market, many containing CBD, and other functional ingredients. Consuming CBD water makes it easier to stay hydrated and the drinking platform provides an effective delivery mechanism for cannabinoids.

  1. More Functional, High-Quality Ingredients; Less Sugar!

Consumers focus more on their health and wellness and do their homework on factors that boost the immune system, improve bowel health, and reduce stress and anxiety. As a result, product developers are creating beverages infused with cannabinoids in combination with other efficient, high-quality ingredients such as ginger, elderberry, horseradish, rosemary, cinnamon, ginseng, and turmeric. Consumers are also more aware of their sugar intake and are looking for non-sugary drinks or using natural flavor enhancers such as berries and other fruits as a sign of sweetness.

  1. Caffeine, Meet CBD

Although the combination of caffeine and CBD may seem contradictory, the pairing in the drink can give a pick-me-up for the body and clarity for the mind. Contrary to popular belief, CBD does not make drowsy but can have a calming, relaxing effect. As a result, there are more cannabinoid-infused cold-brewed coffee, iced green, and black tea on the market, giving consumers the energy, they need to take them by noon.

  1. Brand promotion by celebrities.

CBD's celebrity, brand, and influential advertisements are bringing CBD into the mainstream. For example, Willie Nelson and former NFL star Terrell Davis have names on different CBD-infused drinks. Recognizable brands like Coors are also entering the CBD soft drink market for further acceptance.

As of the mentioned above trending points, consumers are highly influenced by various factors which can be nowadays increasing the adoption rate of CBD beverages. these are some major markets boosting trends, which are influencing the market today for a bright future.

Key Benefits Of for Global CBD Beverages Market Report:

  • Global CBD Beverages Market report covers in-depth historical and forecast analysis.
  • Global CBD Beverages Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, and Regional and Country Level.
  • Global CBD Beverages Market report helps to identify opportunities in the marketplace.
  • Global CBD Beverages Market report covers an extensive analysis of emerging trends and the competitive landscape.
SUMMARY
VishalSawant
Vishal Sawant
Busines Development
vishal@brandessenceresearch.com
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