Market Outlook

Cannabis is a flowering plant which is widely known as hemp, belong to the family of Cannabaceae. For ages, cannabis has been used as a source of hemp oil and hemp fiber and is known for its medicinal purpose and as a psychoactive drug. Recently the use has been extended to common consumable drinks known as cannabis drinks. Cannabis drinks are gaining traction in the market owing to increasing demand for wellness drinks by the consumers. Smoking products are quite common, but now consumers are looking forward for cannabis drinks owing to clean ingredients, low sugar content and an appropriate amount of cannabis. Moreover, health benefits offered by cannabis drinks such as improvement in sleep disorders, prevention in weight gain, release anxiety and depression and controlled blood pressure, becomes the key reasons for the growth of cannabis drinks market across the globe. Countries such as U.S. and Canada have now legalized the use of marijuana, due to which the cannabis industry is betting on cannabis drinks to drive future growth.

Increasing demand of healthy beverages

Enhancement in the demand for healthy drinks in the North America region is expected to create vital opportunities for companies in the global cannabis drinks market. Ever-mounting demand for flavoured beverage with natural constituents is expected to result in significantly high sales of cannabis drinks. Players operating in the cannabis drinks market are estimated to leverage this opportunity during the forecast period. Big beverage companies are highly concentrating on the R&D activities to improve the multifunctional profile of cannabis drinks which offers high health benefits. Recently, BNN Bloomberg reported that the Coca-Cola Company is in serious talks with Aurora Cannabis Inc. to develop cannabis drinks which could ease pain, inflammation and cramping.

Global Cannabis Drinks: Market Segmentation

On the basis of flavor, the global cannabis drinks market has been segmented as –

  • Fusion Flavors Cannabis Drinks
  • Raspberry
  • Pineapple
  • Mango
  • Watermelon
  • Cherry
  • Espresso Mocha
  • Others

On the basis of type, the global cannabis drinks market has been segmented as –

  • Alcoholic
  • Non-Alcoholic

On the basis of end use, the global cannabis drinks market has been segmented as –

  • HoReCa
  • Household

On the basis of distribution channel, the global cannabis drinks market has been segmented as –

  • B2B
  • B2C
    • Hypermarket/Supermarket
    • Convenience Store
    • Specialty Store
    • Online Stores
    • Others

Global Cannabis Drinks Market: Key Players

The global cannabis drinks market continues to grow in both size and popularity on the backdrop of unhealthy sugary drinks and is expected to drive the global cannabis drinks market over the forecast period. In the cannabis drinks market, North America is estimated to account for the highest volume share, whereas Europe is estimated to account for the highest CAGR, owing to increasing demand for cannabis drinks infused with liquors.

Some of the key players operating in the global cannabis drinks market are: Mirth Provisions, Dixie Brands, Inc., Venice Cookie Company (VCC), Canna Punch, Know Label Wine, Natural Extractions Inc., Canopy Growth Corporation and Brewbudz among others

Opportunities for Market Participants

With around 64% of Americans now are in favor of legalization of cannabis, compared with just 12% during 1970, it is expected that the growth of cannabis drinks industry could be worth an astonishing billion dollar industry by 2025. The cannabis drinks market is also foreseen to profit from the ongoing surge in demand for improved flavor impact and profile of cannabis drinks, creating further prospects for the growth of the players of the cannabis drinks market. There are not many big players those who offer cannabis drinks any form. Thus, companies could focus on producing and exporting cannabis drinks across the globe, resulting in expanding their global presence for cannabis drinks market. For the past couple of years, cannabis drinks have attracted the eyes of various beverage manufacturers across the globe due to its health benefit properties.  Therefore, the global cannabis drinks market is expected to have a positive viewpoint over the forecast period.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Cannabis Drinks Market

Pre Book