CBD Beverages Market: Overview
The popularity for CBD (cannabidiol) beverages stems from the legalization of cannabis and cannabis-derived products. Particularly in America, the legalization wave has making advances on the back of the positive regulatory outlook, the reason having to do with the therapeutic benefits of CBD. Among the various compounds that can be extracted from hemp or marijuana, cannabidiol has witnessed massive interest among industry players in the CBD beverages market. Market players including beverages makers are utilizing the antioxidant and neuroprotective protective properties of CBD. Growing awareness of the health benefits of CBD beverages will propel the expansion of the CBD beverages market. Some of the key product types are non-alcoholic wine, kombucha, water, and cold brew coffee. Of all, kombucha, has gathered substantive popularity.
The study on the CBD beverages market offers a critical assessment of key growth dynamics, and offers a critical evidence-based evaluation of imminent investment pockets, current avenues, and the competitive dynamics.
Do you want to assess potential implications of COVID-19 pandemic on your business and boost your preparedness? Grab an exclusive PDF Brochure for this report!
CBD Beverages Market: Key Trends
The drive for CBD beverages market rides on the back of recognition of numerous health benefits of CBD such as in boosting the immunity, managing the obesity, and cardiovascular benefits, and in aiding digestion. Though studies and clinical trials to confirm the benefits are in preliminary stage, they are nonetheless quite promising, spiraling consumer interest especially in regions where hemp are produced in large amount. The growing focus on health and wellness is a key trend boosting the growth of the CBD beverages market.
The growing availability of CBD beverages, such as the trend of mainstreaming of products for athletes is bolstering the expansion of the CBD beverages market. They are being adopted for hydration and replenishment. Thus, sports performance beverages are emerging as a promising category waiting to be capitalized for new entrants, especially.
Pharma companies have been actively undertaking research and developments to unveil oral CBD solutions for controlling episodes of some seizures. Some the key distribution channels that players are tapping into and stakeholders leverage are storefront dispensaries, online stores, and convenience stores.
Are you a start-up willing to tailored insights that will help you align operational and strategic goals in growth journey? Grab an exclusive PDF Brochure for this report!
CBD Beverages Market: Competitive Analysis and Key Developments
Players who are looking to offer some of the exotic convenience store experiences are testing the water in CBD beverages market. Beverages manufacturing companies are expanding their product portfolio of CBD beverages by launching new brands that will adorn the shelves in coming months. A case in point is Yesway. The company recently announced that it is expanding product lines in the CBD beverages market and has launched four new brands.
Each of the brands target unique health benefits and are done with the aim to bring CBD products in untapped markets. One of the brands DEFY that is targeted toward athletes for muscle recovery and anti-inflammatory benefits. The USP of the brand, company asserts, is the proprietary formula that it looks to attract target consumers. Another brand is used to feature as hemp-infused recovery drink.
Similarly, there is a growing number of companies launching products in the CBD beverages that are infused with vitamins and minerals. Many are trying to stay ahead in the space by launching CBD beverages that are carb free and contain organic CBD extracts.
CBD Beverages Market: Regional Assessment
Some of the regions in the CBD beverages market are North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. Of these, North America has emerged as vastly lucrative market, spurred by regulatory landscape in the U.S. Also, surge in investments in hemp production and extraction have shaped the generation of new revenue streams. Strides being made in health and wellness has attracted pharma and functional food companies to cement their stakes, thereby fueling the expansion of the market.
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.