CBD Beverages Market Size, Share, Growth, and Industry Analysis, By Type (Pharmaceutical Grade and Food Grade), By Application (Offline Channel and Online Channel), and Regional Forecast to 2032

Updated On: 29 April 2024

CBD Beverages Market Report Overview

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The global CBD beverages market size was USD 81 Million in 2022 and the market is expected to reach USD 836.39 Million by 2032, exhibiting a CAGR of 26.3% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with CBD beverages market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Cannabinoids from the Cannabis sativa plant are used in CBD beverages. Tetrahydrocannabinol (THC) and cannabidiol (CBD) make up the majority of this group of drugs' chemical classifications. Beverages with CBD are frequently used to treat conditions like hyperemesis, depression, anxiety, inflammation, sleeplessness, and chronic pain.

The market for CBD Beverages is expected to rise as cannabis is increasingly used to treat neurological disorders, cancer, and pain. Cannabis has a wide range of uses, which is creating huge market expansion prospects. It is also anticipated that rising consumer interest in cannabis edibles would support growth. Cannabis users are increasingly focusing on non-smoking cannabis products including beverages, tinctures, chocolates, and other edibles instead of smoking it. Customers are more likely to consume concentrated and cannabis-infused goods, which is predicted to enhance market shares for CBD beverages.

COVID-19 Impact

"Pandemic to Affect the CBD Beverages Market Growth Growth"

Like any other market, COVID-19 has a negative effect on the cannabis industry. To reach consumers, several cannabis businesses started to extensively rely on social media and e-commerce platforms throughout the year. The Alberta government designated cannabis retailers, growers, processors, distributors, and warehouses as essential services on March 30, 2020. Additionally, since individuals spent more time at home due to the epidemic, CBD Beverages products gained popularity as a source of entertainment and a way to reduce stress and anxiety. Sales of CBD Beverages products are soaring as a result, driving the market for CBD Beverages goods ahead.

Latest Trends

"CBD Beverages to Replace Common Painkillers"

Drinks containing CBD are becoming more and more popular as an alternative to common painkillers like ibuprofen, aspirin, and others. Strong anti-depressant and anti-anxiety effects have been linked to CBD beverages. In addition, it has been demonstrated to promote neurogenesis (brain cell growth) in crucial regions of the brain related to anxiety and depression. In the upcoming years, each of these elements will be crucial in fostering industry expansion. The cannabidiol (CBD) infused beverage market will see new growth prospects during the forecast period as a result of increasing research into the development and manufacture of healthier forms of cannabis and its byproducts.

CBD Beverages Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Pharmaceutical Grade and Food Grade amongst which Pharmaceutical Grade is the leading segment.

• By Application Analysis

Based on application, the market can be divided into Offline Channel and Online Channel amongst which Offline Channel is the leading segment.

Driving Factors

"Consumer Knowledge to Augment CBD Beverages Market Share"

Demand for CBD beverages is rising as cannabis is being increasingly legalized for a range of medical and recreational uses, particularly across borders. The market is expanding as a result of growing consumer knowledge of the multiple advantages of CBD beverages for treating inflammation, reducing pain, enhancing sleep quality, and managing stress. Other marijuana-infused foods and beverages including chocolates, cookies, brownies, and unhealthy candies and gummies are projected to be replaced by CBD beverages. Over the predicted timeframe, this factor is anticipated to increase demand for CBD beverages.

"Neurological & Psychological Disorders to Boost CBD Beverages Market Growth"

Customers' preferences for food products with CBD-infused ingredients, like CBD beverages, have changed as a result of the increased prevalence of many respiratory conditions brought on by cannabis smoking. Furthermore, due to their non-psychotropic qualities, which reduce the chance of drug-induced sensations among users, CBD beverages are becoming more popular as the prevalence of various neurological and mental problems is on the rise. Further, the market growth rate for CBD drinks is being positively impacted by potential consumers' increased willingness to pay for legal CBD goods.

Restraining Factors

"Competition Between Market Players to Restrain the CBD Beverages Market Growth"

Since the strengths and purity of CBD products might differ between brands and even within a single brand, which could lead to less than ideal results, the majority of CBD products are not FDA-approved. Their usage is therefore prohibited in a number of nations.   The expansion of this specific CBD beverage market is being constrained by high material costs.

CBD Beverages Market Regional Insights

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"North America to Dominate the CBD Beverages Market Growth"

According to estimates, North America has the fastest growing and largest market for CBD beverages. Growth is mostly being driven by the legalization of cannabis for both medical and recreational uses. Cannabis usage for leisure and medical reasons became legal in Canada in 2018. A total of 33 U.S. states, the District of ,  U.S. Virgin Islands have approved publicly accessible medicinal cannabis programmes, according to the National Conference of State Legislatures, which has led to a rise in the introduction of new products in the area. Additionally, a strong demand for CBD beverages exists in the area as a result of 13 U.S. states permitting the use of low THC and high CBD beverages for medical purposes.

Due to the growing number of consumers in the region, Europe is also anticipated to have considerable growth during the anticipated period. According to the Cannabis Trade Association, more people in the U.K. are drinking CBD-infused beverages. Additionally, regional businesses are introducing new products to keep up with the expanding wellness drink demand. For instance, the first CBD Session IPA beer made with Cannabis Sativa extract in the UK was introduced by Manchester-based CBD Ultra and Cloud 9 Brewing. Due to the existence of marijuana-specific cafes and restaurants, demand is also high in the Netherlands.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Canopy Growth Corporation (Canada)
• American Premium Water (U.S)
• Heineken (Netherlands)
• Sprig (U.S.)
• Phivida Holdings (Canada)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.