Cannabis beverages offer health benefits to consumers such as relief from anxiety, stress, insomnia, chronic pain, illness and more without the intoxicating effects of smoking cannabis. The global cannabis beverage market provides various advantages compared to other cannabis products including precise and easily adjustable dosage, discreet consumption, and quick onset of effects.

The global Cannabis Beverage Market is estimated to be valued at US$ 547.43 Mn in 2023 and is expected to exhibit a CAGR of 61% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Product launches by key players across various regions has been a key trend driving the growth of the global cannabis beverage market. The cannabis industry is witnessing various product innovations to expand their cannabis beverage portfolio. For instance, in 2022, Cargill Inc. launched Recess, its line of THC-infused sparkling waters available in California, Colorado and Florida. The drinks are available in four flavors: pineapple-ginger, grapefruit-rosemary, lemon-lavender and black raspberry-elderflower. Recess allows cannabis consumers to enjoy the benefits of functional cannabis beverage. Such product launches have increased consumer awareness about cannabis beverages and accelerated the market growth over the forecast period.

Segment Analysis
The global cannabis beverage market is dominated by the CBD-infused drinks segment. CBD-infused beverages have witnessed immense popularity as they provide therapeutic benefits of CBD like reduced inflammation and pain relief without the psychotropic effects of THC. Their easy availability, convenient formats like juices, teas and carbonated drinks have driven their demand over other cannabis beverages. The non-alcoholic sub-segment also holds a larger share as more health-conscious consumers are choosing no-alcohol drinks for health benefits.

Key Takeaways
The Global Cannabis Beverage Market Share is expected to witness high growth. With increasing legalization of cannabis for medical and recreational purposes, more companies are exploring opportunities in this lucrative market. The global Cannabis Beverage Market is estimated to be valued at US$ 547.43 Mn in 2023 and is expected to exhibit a CAGR of 61% over the forecast period 2023 to 2030.

The North American region currently dominates the market due tolegalization of cannabis in major markets like U.S. and Canada. Changing consumer preference towards wellness drinks along with various health benefits of cannabis is driving the demand in the region. The Asia Pacific region is expected to be the fastest growing market for cannabis beverages. Countries like Australia, Thailand and South Korea have legalized cannabis for medical use which will drive growth of cannabis infused drinks market. Further, large consumer base, rising disposable incomes and growing awareness about benefits of cannabis are attractive opportunities for key players in the region.

Key players related content comprises
Key players operating in the cannabis beverage market are Cargill Inc., Nu-Tek Food Sciences LLC, Koninklijke DSM N.V., Montana Indusrie Holding A.G., Angel Yeast Co. Ltd., Tate & Lyle Plc, and Innophos Holding Inc. Cargill Inc. offers an extensive range of cannabis extracts and ingredients for production of THC and CBD-based drinks.

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