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| Cannabis Beverage Market |
The cannabis beverage market has
emerged as a valuable segment within the overall cannabis industry. Cannabis
infused beverages are non-alcoholic drinks containing tetrahydrocannabinol
(THC) and/or cannabidiol (CBD) that provide therapeutic health benefits.
Beverages containing THC provide an alternative method for cannabis consumption
while beverages containing CBD offer a natural remedy for anxiety, inflammation
and improving overall wellness without intoxicating effects. The growing
preference for wellness-focused non-alcoholic beverages has boosted the demand
for cannabis beverages.
Key Takeaways
Key players operating in the Cannabis Beverage are IBM Corporation, Microsoft Corporation, SAP SE, and Oracle Corporation. These key players are focused on developing innovative beverage formulations and enhancing production capabilities to meet the rising demand.
The growing consumer awareness about the therapeutic benefits of Cannabis Beverage Market Trends for conditions like chronic pain, insomnia and mental health issues has increased the demand for cannabis infused beverages globally. Furthermore, the legalization of cannabis in several countries has created lucrative market opportunities.
Several beverage companies are expanding their cannabis beverage product portfolio and global distribution footprint to leverage the high-growth potential offered by international markets like Canada, Europe and Latin America. Strategic partnerships with cannabis producers help in ensuring adequate supply chain and distribution support.
Market Key Trends
One of the key trends driving the Cannabis
Beverage Market Size And Trends is the growing popularity of health and
wellness oriented low-alcohol and alcohol-free beverages. Cannabis infused
beverages are attractive alternatives to alcoholic drinks for socializing,
relaxation and reaping therapeutic benefits without intoxication. This has
boosted the adoption of cannabis drinks formulated using CBD and low THC extracts.
Leading beverage companies have introduced diverse cannabis drink product
ranges in flavors like lemon-lime, ginger and fruit medley to expand the target
base beyond existing cannabis consumers.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to the
stringent regulations, high capital requirements, and brand loyalty.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of raw material suppliers and switching costs involved.
Threat of new substitutes: The threat of new substitutes is moderate due to the availability of other functional beverages and alcohol.
Competitive rivalry: High due to presence of many established brands.
Geographical Regions
North America currently holds the largest share in the cannabis beverage market
in terms of value due to growing adoption and legalization of cannabis for
medical and recreational purposes in the US and Canada.
The Asia Pacific region is expected to witness the fastest growth over the
forecast period owing to the growing young population, increasing disposable
income, and relaxation in government regulations in countries like Australia,
Thailand, and South Korea.
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More Insights On, Cannabis
Beverage Market
About
Author:
Ravina Pandya, Content Writer, has a
strong foothold in the market research industry. She specializes in writing
well-researched articles from different industries, including food and
beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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