U.S. Cannabis Infused Drinks Market Is Estimated To Progress At A CAGR Of 10.1% Through 2032

PRESS RELEASE

Published April 18, 2023

The U.S. cannabis-infused drinks market is a rapidly growing sector within the broader cannabis industry. As of 2023, it is estimated to be worth billions of dollars and is expected to experience significant growth in the coming years. The legalization of cannabis for recreational and medicinal use in several states across the U.S. has created a favorable regulatory environment for cannabis-infused products, including beverages. Consumers are increasingly looking for alternative ways to consume cannabis, and cannabis-infused drinks offer a discreet, convenient, and socially acceptable option. One of the key drivers of the U.S. cannabis-infused drinks market is changing consumer preferences and behaviors. Many consumers are looking for healthier and more socially acceptable ways to consume cannabis, and beverages offer a smoke-free, low-calorie, and easy-to-dose option. Cannabis-infused drinks also appeal to a broader demographic of consumers, including those who may not be interested in traditional cannabis consumption methods such as smoking or vaping.

The market is also being driven by innovation and product diversification. Companies are constantly developing new and innovative cannabis-infused beverages, ranging from carbonated sodas to cold brew coffees to functional wellness drinks. These products often incorporate different cannabinoids, such as THC (tetrahydrocannabinol) and CBD (cannabidiol), which can offer different effects and benefits to consumers. Furthermore, partnerships and collaborations between cannabis companies and established beverage companies have been on the rise, which has helped to legitimize the cannabis-infused drinks market and expand its distribution channels. This has also allowed cannabis-infused drinks to gain wider acceptance among consumers and increase their availability in mainstream retail outlets.

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However, the U.S. cannabis-infused drinks market also faces challenges. Regulations and compliance requirements can vary significantly from state to state, creating a complex and evolving landscape for businesses operating in this space. Additionally, the taste and consistency of cannabis-infused beverages can be a challenge, as the cannabinoids often have a distinct flavor that may not appeal to all consumers. Furthermore, the potential for overconsumption and adverse effects associated with cannabis consumption remains a concern for regulators and consumers alike.

Despite these challenges, the U.S. cannabis-infused drinks market is projected to continue its growth trajectory in the coming years. The increasing acceptance of cannabis, expanding product offerings, and evolving consumer preferences are likely to drive further innovation and investment in this sector, making it an exciting and dynamic market to watch.

Key findings of the Cannabis Infused Drinks market study:

  • The report provides a present market outlook on Cannabis Infused Drinks. Additionally, the Cannabis Infused Drinks market share is anticipated to grow with a CAGR of 37.8% in the forecast period.
  • Regional breakdown of the Cannabis Infused Drinks market based on predefined taxonomy.
  • Innovative manufacturing processes implemented by Cannabis Infused Drinks vendors in detail.
  • Region-wise and country-wise fragmentation of the Cannabis Infused Drinks market to grasp the revenue, and growth outlook in these areas.
  • Changing preferences among consumers across various regions and countries.
  • Factors (Positive and Negative) impacting the growth of the global Cannabis Infused Drinks market.
  • Cannabis Infused Drinks price, market share, and Trends forecast for assessment period 2022-2032

Why is Consumption of Non-Alcoholic Cannabis Infused Drinks Surging?

The consumption of non-alcoholic cannabis-infused drinks is surging for several reasons, including changing consumer preferences, health-consciousness, convenience, and social acceptability.

  1. Changing consumer preferences: Consumers are increasingly seeking alternative ways to consume cannabis that do not involve smoking or vaping. Non-alcoholic cannabis-infused drinks provide a smoke-free option that is appealing to many consumers, particularly those who are looking for more discreet and convenient methods of consumption.
  2. Health-consciousness: Many consumers are becoming more health-conscious and are looking for cannabis-infused products that align with their wellness goals. Non-alcoholic cannabis-infused drinks are often marketed as a healthier alternative to traditional cannabis consumption methods, as they are typically low in calories and offer precise dosing options. This appeals to health-conscious consumers who may be concerned about the potential health risks associated with smoking or consuming high-calorie edibles.
  3. Convenience: Non-alcoholic cannabis-infused drinks are also convenient for on-the-go consumption. They can be easily consumed in social settings or taken to events where smoking or vaping may not be allowed, making them a popular choice for consumers who want a discreet and convenient way to consume cannabis.
  4. Social acceptability: Non-alcoholic cannabis-infused drinks are often perceived as more socially acceptable compared to smoking or vaping cannabis. They do not produce smoke or have a strong odor, which makes them more discreet and appealing to consumers who may be concerned about the social stigma associated with cannabis consumption. Cannabis-infused drinks can be enjoyed in social settings without drawing unwanted attention, making them more accessible to a wider demographic of consumers.
  5. Innovation and product diversity: The cannabis industry is known for its innovation, and non-alcoholic cannabis-infused drinks are no exception. Companies are constantly developing new and diverse product offerings, such as carbonated beverages, teas, coffees, and functional wellness drinks. This wide range of options allows consumers to choose products that suit their preferences and lifestyles, contributing to the surging popularity of non-alcoholic cannabis-infused drinks.
  6. Regulation and partnerships: The legalization of cannabis for recreational and medicinal use in several states across the U.S. has created a favorable regulatory environment for cannabis-infused products, including beverages. This has led to increased availability and accessibility of non-alcoholic cannabis-infused drinks in the market. Additionally, partnerships and collaborations between cannabis companies and established beverage companies have helped to legitimize and promote these products, expanding their distribution channels and increasing consumer awareness.

Overall, the surging consumption of non-alcoholic cannabis-infused drinks can be attributed to changing consumer preferences, health-consciousness, convenience, social acceptability, product diversity, and favorable regulations, which have collectively contributed to the growing popularity of this category within the cannabis industry.

Competitive landscape analysis

Due to the ambiguity surrounding cannabis sales in recent years and the application of appropriate legislation, the climate of the market for drinks infused with cannabis continues to be competitive. Due to favourable government regulations that serve to boost the sales of these items in the nation, the sector in Canada is predicted to expand at a notable rate.

It is anticipated that a notable tactic to get a competitive advantage in the market would be the adoption of cutting-edge technology and adherence to market trends in the beverage sectors to generate some distinctive differences.

  • One of the most popular and straightforward cannabis beverages is called CAN. A little amount of carbonated water, agave juice, fragrant oils, and Californian cannabis extract are often included. It contains around 4 mg of CBD and 2 mg of THC, providing very controlled effects that are often milder than cannabis drinks. It is also available on several e-commerce platforms and accessible to a variety of dispensaries.
  • Similar to Artet, a non-alcoholic beverage, it mixes cocktail culture with cannabis socialisation in a single bottle. The product is available in a variety of flavours, each of which combines dry, floral, and herbal overtones. The 37.5mg THC included in the vial is further split into fifteen 2.5mg TCH shots. These drinks are perfect for people who have never consumed cannabis beverages before.

Some of the leading companies operating in the market are :

  • CAN
  • Artet
  • The Alkaline Water Company
  • Phivida Holdings Inc.
  • Koios Beverage Corporation
  • VCC Brands

 What insights does the Cannabis Infused Drinks report provide to the readers?

  • Cannabis Infused Drinks fragmentation on the basis of product type, end use, and region.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Collaborations, R&D projects, acquisitions, and product launches of each Cannabis Infused Drinks
  • Various regulations imposed by the governments on the consumption of Cannabis Infused Drinks in detail.

Segmentation of Cannabis Infused Drinks Industry Research

·         By Product Type :

·         By Components :

    • Cannabidiol (CBD) Infused
    • Tetrahydrocannabinol (THC) Infused

·         By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]

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