The Increasing consumer interest towards health and wellness beverage infused with bioactive compounds is fostering the growth of the global cannabis beverage market, says Fortune Business Insights in a report titled, “Cannabis Beverages Market Size, Share and Global Trend By Type (Non-alcoholic Beverages, Alcoholic Beverages), By Distribution Channel (Mass Merchandisers, Convenience Stores, Online Retail, Others) and Geography Forecast till 2026.” The innovation in isolation and purification techniques for active ingredients is a factor driving the global cannabis beverage market.
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Molson Coors’s Joint Venture for Cannabis-Infused Drinks Will Contribute Positively to The Cannabis Beverage Industry
Molson coors, a brewing company partnered with Gatineau, a Quebec-based Hexo Corporation to launch a rage of cannabis-infused, non-alcoholic beverages by the name Truss. The joint venture Truss is predicted to offer products from water to hot beverages. The new venture is likely to aid expansion of the hemp-infused drinks which will then promote the cannabis beverage market. The launch of CBD-infused drinks by leading market players are expected to further accelerate cannabis beverage revenue. For instance, Cannabiniers launched a full variety of THC-infused beverages such as cannabis-infused beer, tea, coffee for the U.S market. The launch will fuel demand among consumers hence enabling growth of the global cannabis beverages revenue.
Rapidly Increasing Demand of Marijuana as Recreational Therapy Will Boost the Cannabis Beverages Growth
Cannabis have historic value and are utilized for various purposes, evidently in countries, but with different preparations such as bhang lassi in India, mafeisan in China, assis in Russia and sabzi in Persia. The increasing demand for recreational marijuana among consumers for healthy, smoke-free experience is driving the cannabis beverage market. The rising trend and inclination towards hemp-infused energy drinks such as CBD infused water, hemp juices, CBD infused tea, THC Wine, Cannabis-infused beer, hemp milk, hemp gin and others is predicted to escalated the cannabis beverage growth. Further the rising consumer interests towards healthy and energy-oriented drinks that are instilled with bioactive essential nutrients is predicted to uplift the cannabis beverage shares. The ongoing process of legalization is predominantly shifting consumer opinion towards the consumption of marijuana. Therefore, the product development by leading players for minimally-processed, more natural and healthy beverages is further expected to aid cannabis beverage sales. Additionally, the rapidly increasing progression in isolation and purification methods for active ingredients such as Nano-emulsification is likely to enable growth of the global cannabis beverages market.
Legalization of Marijuana Will Foster Growth in Europe and North America
The global cannabis beverage market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. North America and Europe is expected to Witness high demand due to the adoption of marijuana as a mainstream ingredient and a lifestyle brand. The cannabis beverage sales are predicted to boom, owing to the development of new products with Cannabis as the main ingredient. This factor is propelling growth in the region. In addition, the legalization of cannabis for recreational uses in European as well as North American Countries are further boosting cannabis beverages growth.
Some of the key companies that are present in the global cannabis beverages market are La Croix, American Premium Water Corp., The Supreme Cannabis Company Inc, Fire-Seed Brands Co. Limited, and other players.
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