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.
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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.
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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 intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.