Rising inflammation to boost the Cannabis Beverage Market Growth

 

Cannabis Beverage Market
Cannabis Beverage Market

Cannabis Beverage Market Product Type (Alcoholic, Non-Alcoholic), CBD Type (Marijuana-Derived, Hemp-Derived, Synthetic), Grade (Pharmaceutical Grade, Food Grade), Distribution Channel (Storefront Dispensaries, Convenience Stores, Online, Others) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Cannabis Beverage Market is estimated to be valued at US$ 1,227.3 million in 2023 and is expected to exhibit a CAGR of 17 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cannabis beverages consist the mind-altering elements tetrahydrocannabinol. These drinks, which can be bought at dispensaries or through digital sites, consist several amounts of tetrahydrocannabinol additional to alcohol, caffeine, or other cannabis products. The protection of these drinks has not been considered vastly in human beings.

Competitive Landscape:

Key players involved in the growth of global Cannabis Beverage Market are Hexo Corp, The Alkaline Water Company; Dixie Brands Inc., Phivida Holdings Inc. Canopy Growth, Koios Beverage Corporation; VCC Brand; Keef Brand, Aphria.

Market Key Drivers:

Increasing consumer awareness of the various advantages of cannabidiol in curing infection, relieving pain, enhancing sleep quality, and stress management is anticipated to propel the growth of the global Cannabis Beverage Market. For instance, as per WHO around 3.5 billion people across the globe suffer from inflammation.

The increasing prevalence of several neurological and psychiatric diseases is expected to boost the growth of the global Cannabis Beverage Market. For instance, as per WHO around 50 million people suffer from neurological diseases.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Cannabis Beverage Market due to the strict imposition of lockdown and shutdown. The rising cases have led to the restriction on movement of people from one place to other to curb the spread of pandemic. Closure of manufacturing and production units has also impeded the market growth.

Key Takeaways:

The global Cannabis Beverage Market is anticipated to exhibit a CAGR of 8.3 % during the forecast period rising mergers and acquisitions. For instance, in June 2021, Canopy Growth declared that it had finished the acquisition of The Supreme Cannabis Company and had attained 100 % of Supreme's issued and exceptional common shares.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in the global Cannabis Beverage Market due to mergers and acquisitions, product expansions and rising disorders such as inflammation, neurological diseases and others. For instance, in March 2021, STADA Arzneimittel AG, one of Germany's largest pharma companies, entered the medical cannabis space with an agreement with MediPharm Labs (Canada) for the inauguration of two flower produces.

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