Cannabis Beverages Market, By Type (Orange, Eucalyptus, Corn Mint, Peppermint, Citronella, Lavender, Lemon, Clover Leaf, Spearmint, and Others), By End-user (Flowers, Fruits & Vegetables, Herbs & Spices), By Method of Extraction (Cold Press Extraction, Carbon Dioxide Extraction, Distillation, and Others), By Application (Food & Beverages, Medical, Home Care, Cosmetics, Spa & Relaxation, and Others), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI422620 | Publish Date: March 2024 | No. of Pages: 180

Global Cannabis Beverages Market Overview

Cannabis Beverages Market was valued at US$ 2.3 Billion in 2024 and is projected to grow at a CAGR of 6.10% to reach US$ 3.9 Billion by 2034.

Cannabis Beverages Market refers to the segment of the beverage industry that produces and markets beverages infused with cannabis compounds, primarily cannabinoids like THC (tetrahydrocannabinol) and CBD (cannabidiol). These beverages offer a novel and convenient way for consumers to experience the potential therapeutic effects of cannabis in a liquid form. Cannabis beverages can include a wide range of products, such as carbonated drinks, non-alcoholic beer, tea, coffee, water, sports drinks, and functional beverages. These beverages can be formulated to provide specific cannabinoid profiles, flavors, and effects.

The market for cannabis-infused beverages has grown significantly in regions where cannabis has been legalized for medicinal and/or recreational use. However, the legal status of cannabis and its derivatives varies widely around the world, influencing the availability and regulatory framework of cannabis beverages. Cannabis Beverages Market faces challenges related to taste, stability, formulation consistency, dosing accuracy, and regulatory compliance. Companies must navigate complex regulations and invest in quality control measures.

Global Cannabis Beverages Market Dynamics

Increasing demand for wellness drinks

Presence of proper quantity of cannabis for consumption and low sugar content of the product are the factors projected to fuel the product demand. Growing use of cannabis for treatment of cancer, neurological disorders, and pain control is projected to boost the demand for cannabis drinks. Cannabis has wide range of applications which results in significant growth opportunity for the market growth. Increasing consumer interest in cannabis edibles is also anticipated to support the growth. Cannabis consumers are shifting their focus from smoking cannabis to alternative ways, such as tinctures, beverages, and chocolates and other edibles. Consumers are prone to consuming concentrated and cannabis-infused products, which in turn is projected to boost the market growth.  

Increasing Focus of key Players on new product launches

Increasing sales of cannabis drinks from brewing companies and new product launches has driven marijuana beverages market. The need for cannabis drinks is mainly influenced by millennials. According to Yahoo News poll in 2017, almost 55 million recreational marijuana users were millennials in U.S. In 2019, New Age Beverages Corporation hired as agreement with Dock light, division of Privateer Holdings for 50-50 profit-sharing partnership to sale marijuana-infused products under the Marley Natural brand.

In 2019, The Alkaline Water Company acquire AQUAhydrate. The acquisition aimed to expand their retail distribution across North America with retailers including Target, Walmart, Safeway, Rite Aid, QT, GNC Meijer, and Albertsons along with celebrity investors continue to serve as brand ambassadors.

Restrains:

Unpredictable price fluctuations can lead to uncertain consumer behavior. If prices rise too high, it might deter potential consumers from purchasing cannabis-infused beverages, especially in an already price-sensitive market. On the other hand, if prices drop too low due to oversupply, it could lead to a short-term increase in demand followed by potential negative perceptions about the product's quality or value.  

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Global Cannabis Beverages Market Segmentation

 

Cannabis Beverages Market- Segmentation

Cannabis Beverages Market is segmented based on Type, End-user and Region

Type Insight

On the basis of Type, Cannabis Beverages Market is segmented into Alcoholic (Cannabis-Infused Beers, Cannabis-Infused Wines, Cannabis-Infused Spirits, and Others) and Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew). Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew) is expected to dominate the target market growth as Non-alcoholic cannabis sodas and sparkling beverages were gaining popularity. They provided a familiar format similar to traditional soft drinks but with the added effects of cannabinoids.

End-user Insights

On the basis of End-user, Cannabis Beverages Market is segmented into Mass Merchandisers, Specialty Store, Online Stores, and Others. Specialty Store are expected to dominate the target market growth as Specialty stores, often referred to as cannabis dispensaries or cannabis retail stores, were dedicated outlets that catered specifically to cannabis-related products.

Regional Insights:

On the basis of region the Cannabis Beverages Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to witness significant revenue growth in the Cannabis Beverages market in the coming years. North America, particularly Canada and certain states in the United States where cannabis was legalized for recreational or medicinal use, was a significant market for cannabis beverages. Canada, with its legal adult-use cannabis market, was a key player in this space.

While the Asia-Pacific region is generally stricter regulations surrounding cannabis, there are discussions and movements towards medical cannabis legalization in countries like Australia, New Zealand, and Thailand. These developments contribute to future growth in cannabis beverages market.

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Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Type - Alcoholic (Cannabis-Infused Beers, Cannabis-Infused Wines, Cannabis-Infused Spirits, and Others) and Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew)

By End-user - Mass Merchandisers, Specialty Store, Online Stores, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Cannabis Beverages Market report based on Type, End-user and Region:

Cannabis Beverages Market, By Type:

  • Alcoholic (Cannabis-Infused Beers, Cannabis-Infused Wines, Cannabis-Infused Spirits, and Others)
  • Non-Alcoholic (Cannabis Soda, Marijuana Tea, Marijuana Elixirs, and Cannabis Coffee and Cold Brew)

Cannabis Beverages Market, By End-user:

  • Mass Merchandisers
  • Specialty Store
  • Online Stores
  • Others

Cannabis Beverages Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Cannabis Beverages Market Key Players

The key players operating the Cannabis Beverages Market includes, New Age Beverages Corporation; Keef Brand; Phivida Holdings Inc.; Koios Beverage Corporation; VCC Brand; Hexo Corp; The Alkaline Water Company; Dixie Brands Inc.; Aphria; and Canopy Growth.

Global Cannabis Beverages Market Company Profile

  • New Age Beverages Corporation*
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Keef Brand
  • Phivida Holdings Inc.
  • Koios Beverage Corporation
  • VCC Brand
  • Hexo Corp
  • The Alkaline Water Company
  • Dixie Brands Inc.
  • Aphria
  • Canopy Growth

“*” marked represents similar segmentation in other categories in the respective section

Recent Development:

  • In March 2023, Legends Food & Beverage Launches Wide-Reaching Cannabis Beverages in Oregon. Legends Food & Beverage offers cannabis beverages for everyone, including women's wellbeing, calm interested nightlife, physical performance, and stoned spiritualism. For years, Legends Food & Beverage has been a trailblazer in Oregon cannabis, and the team is committed to set the next trend with sparkling cannabis THC and CBD beverages. The revolutionary water bonding technology of LFB allows users to experience and monitor their 'buzz' with a consistent, repeatable high - similar to alcohol. Furthermore, the new technique enables Legends Food & Beverage to produce fast-acting odorless, colorless, and flavorless infusions at a significantly lower cost. Most cannabis drinks are twice as expensive as boozy beverages, but Legends Food & Beverage manufacturers are pricing CBD and THC as a real alcohol substitute.
  • In July 2023, RIFF Cannabis Brand Launched New THC Beverages for summer. The new RIFF canned cannabis beverages hit all the appropriate fruity notes, giving a wonderful blend of natural tastes and sweetness levels with no aftertaste of cannabis. Consumers can enjoy a speedy onset of effects, providing an elevated refreshment, as well as consistent, uniformly blended active ingredients and an incomparable experience that combines nicely with any circumstance, whether solitary or social.
  • In June 2022, Truss Beverage expands its portfolio by launching 15 new cannabis beverages for summer. Consumers are looking for alternatives to alcohol for adult beverages, particularly for social situations, and are turning to cannabis beverages as a wonderful option. The new products, which feature summer-inspired flavors, are the result of user insights, such as demands for less sugar and higher-dose beverages (10 mg of THC).
  • In October 2022, The Jones Soda Co. launched the company’s Mary Jones line of cannabis beverages with the California introduction of new marijuana-infused drinks in 16-ounce cans. The Mary Jones brand's 12-ounce weed drinks were introduced earlier this year, and the new super-sized cannabis beverages contain 100 milligrams of THC, the most common psychoactive ingredient found in marijuana. Mary Jones sodas are cannabis-infused versions of the company's renowned beverages, which have included Jones' Root Beer, Berry Lemonade, Green Apple, and Orange & Cream for the past 25 years.

Global Cannabis Beverages Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for medical carts Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By End-user
      • Market Snippet, By Method of Extraction
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restrains
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Cannabis Beverages Market, By Type, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Orange
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Eucalyptus
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Corn
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Mint
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Peppermint
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Citronella
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Lavender
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Lemon
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Clover Leaf
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Spearmint
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Cannabis Beverages   Market, By End-user, Forecast Period up to 10 Years, (US$ Bn)
    • Overview                                      
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Flowers
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Fruits & Vegetables
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Herbs & Spices
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  2. Cannabis Beverages Market, By Method of Extraction, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Cold Press Extraction
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Carbon Dioxide Extraction
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Distillation
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Cannabis Beverages Market, By Application, Forecast Period up to 10 Years, (US$ Bn)
  • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Segment Trends
    • Food & Beverages
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Medical
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Home Care
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Cosmetics
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Spa & Relaxation
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
    • Others
      • Overview
      • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  1. Cannabis Beverages   Market, By Region, Forecast Period up to 10 Years, (US$ Bn)
    • Overview
      • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
      • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-user, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Method of Extraction, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-user, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Method of Extraction, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-user, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Method of Extraction, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-user, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Method of Extraction, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By End-user, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Method of Extraction, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
      • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Year
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  2. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  3. Company Profiles
  • New Age Beverages Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Keef Brand
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Phivida Holdings Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Koios Beverage Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • VCC Brand
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Hexo Corp
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • The Alkaline Water Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Dixie Brands Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Aphria
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Canopy Growth
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Cannabis Beverages Market is segmented into Type, End-user and Region

Cannabis Beverages Market is driven by factors like increasing demand for wellness drinks and increasing focus of key players on new product launches.

By region, the Cannabis Beverages market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the Cannabis Beverages Market includes, New Age Beverages Corporation; Keef Brand; Phivida Holdings Inc.; Koios Beverage Corporation; VCC Brand; Hexo Corp; The Alkaline Water Company; Dixie Brands Inc.; Aphria; and Canopy Growth.