Global Cannabis Infused Drinks market: Overview
Consumers preference for beverage are witnessing a shift from soft drinks to wellness drinks and this shift is expected to bolster the sale of cannabis beverage in the years to come. These drinks come with low sugar content, which make it ideal for consumption for many, particularly for the ones suffering from diabetes. This factor is likely to drive the growth of the global cannabis infused drinks market in the years to come.
In addition, consumers prefer cannabis infused drinks to direct cannabis smoking and consumption of marijuana-infused brownies, cookies, and chocolates. Various off trade sales channels, such as lounges, clubs, restaurants, cafes, and hotels are estimated to support growth of the global cannabis infused drinks market over the period of assessment.
Cannabis is a class of three different plants that comes with psychoactive characteristics. These three plants are Cannabis ruderalis, Cannabis indica, and Cannabis sativa. Cannabis is made by harvesting and drying the flowers of these plants. It goes by other names as well, such as marijuana, pot, and weed. The flourishing cannabis industry is likely to emerge as an important growth factor for the global cannabis infused drinks market over the period of analysis, from 2020 to 2030.
Product type, use, packaging, flavor, sales channel and region are the six important parameters based on which the global cannabis infused drinks market has been classified.
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Global Cannabis Infused Drinks market: Notable Developments
One of the important market developments that give a quick view of the dynamics pertaining to the global cannabis infused drinks market is mentioned as below:
- In December 2018, CERIA Brewing launched its first THC-infused non-alcoholic beer, Grainwave.
Some of the prominent organizations in the global cannabis infused drinks market comprise the below-mentioned:
- Canopy Growth
- Koios Beverage Corporation
- New Age Beverages Corporation
- Phivida Holdings Inc.
- CERIA Brewing
- The Alkaline Water Company
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Global Cannabis Infused Drinks market: Key Trends
The global cannabis infused drinks market is characterized by the presence of the following restraints, drivers, and opportunities.
Growing Use of Cannabis for Medicinal and Recreational Purposes to Bolster Demand
The growth of the global cannabis infused drinks market is likely to be driven by the growing popularity of wellness drinks. In addition, legalization of cannabis recreational and medical purposes has strongly impacted the sale of alcoholic drinks. As such, several alcohol producers are also making investment in the making of cannabis infused drinks to reap the benefit of this emerging trend.
The demand for cannabidiol based cannabis infused drinks has been witnessing a upward rise, particularly amongst the users who are looking for controlled. Convenient, and discreet dose of cannabis. Both cannabidiol cannabis and Tetrahydrocannabinol cannabis infused drinks come with considerable therapeutic and medicinal benefits, however, cannabidiol cannabis together with its non-psychoactive qualities are considered more attractive for its users. The sale of CBD-based cannabis infused drinks is estimated to be driven by its ability to make one high sans any health-related risk. All these factors are estimated to bolster expansion of the global cannabis infused drinks market over the period of assessment, from 2020 to 2030.
Global Cannabis Infused Drinks market: Geographical Analysis
North America is regarded as one of the leading and rapidly growing regions in the global cannabis infused drinks market. Post legalization of use of cannabis for both recreational and medical purposes has propelled growth of the market in North America. Europe is likely to trail North America due to rapid rise in the number of consumers in Europe.
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
- 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?
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.