CBD Beverages Market Revenue to Cross USD 4866.41 Mn, Globally, by 2028 to Growing at 22.7% CAGR - Says Brandessence Market Research
LONDON, Sept. 16, 2022 /PRNewswire/ -- CBD Beverages Market Size, Share & Trends Analysis Report By Type (Food Grade CBD Beverages, Pharmaceutical Grade CBD Beverages) By Application (Mass Markets, Storefront Dispensaries, Convenience Stores, Online Stores) Based On Region, And Segment Forecasts, 2022 - 2028
According to our Research Analyst," Rocketing awareness of CBD Beverages in terms of revenue was estimated to be USD 915.60 Million in 2021 and is expected to reach USD 4866.41 Million in 2028, growing at a CAGR of 22.7%.
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Rising awareness of consumers on the wellness of the products and a growing number of health-conscious consumers is driving the growth of the CBD beverage market. Also, consumers' preference for natural products over pharmaceutical products will also boost the CBD beverage market. Moreover, potential customers of BVD beverages are more willing to spend on legal CBD products, especially baby boomers. The market for CBD beverages in the United States has reached around USD 173.67 Million in 2020. Also, Canada, Germany, U.K. USD 142.81, 50.31 and 40.02 million respectively. The market is expected to grow significantly in the coming period due to growing consumer preferences, as well as awareness of health benefits. The CBD beverages market is expected to earn USD 4866.41 Million by 2028.
CBD Beverages Market Key Players:
- Alkaline Water Company
- Canopy Growth Corporation
- New Age Beverages Corporation
- CannTrust Holdings
- CBD Biotechnology Co. Ltd
- American Premium Water
- Lagunitas
- Phivida Holdings
- Molson Coors Brewing
- Tilray Inc.
- Aurora Cannabis
- Others
CBD is commonly used to address anxiety, and for patients who suffer through the misery of insomnia, studies suggest that CBD may help with both falling asleep and staying asleep. Furthermore, CBD may offer an option for treating different types of chronic pain. A study from the European Journal of Pain showed, that using an animal model, CBD applied on the skin could help lower pain and inflammation due to arthritis. More study in humans is needed in this area to substantiate the claims of CBD proponents about pain control. However, it is used in many industries such as cosmetics, medical make oil, and textiles industry. CBD has been introduced in Ayurveda with many properties. And nowadays CBD is being used to make a wide variety of beverages. It is also getting approval from many government departments. At the same time, CBD beverages are getting a huge response from customers.
Global CBD Beverages Market Segmentation:
By Type
- Non-Alcoholic
- Alcoholic
By Application
- Convenience Stores
- Online Stores
- Mass Market
- Dispensaries
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Market value of cbd beverages Trends
Visual Capitalist recently compiled an infographic on the growth potential of the CBD soft drink market, which includes CBD-mixed beverages (coffee, tea, water, kombucha, juice, and sports drinks) as well as CBD-infused beer, wine, and spirits. A comprehensive infographic shared the benefits of these soft drinks and some of the current trends that are making them a strong segment in both soft drinks and CBD markets. Dosage is more controlled, and CBD is more accessible in this form through numerous distribution channels including restaurants and bars, supermarkets, and online retailers.
1. Consumer preferences are moving away from alcohol and toward cannabis products as evidenced in the ongoing global decline of alcohol sales.
While many consumers enjoy a great beer, wine, or cocktail, they do not always enjoy what they feel the next day. For many people, the older they get, the harder it is for the body to process alcohol, not to mention the high sugar levels that lead to a buildup of calories. As a result, consumers are looking for alternatives to alcohol such as CBD-infused drinks that can provide the same buzz without a hangover or a beer pot.
Furthermore, according to the Brightfield Group's Alcohol Trends and Non-Alcoholic Trends report, consumers are drinking less alcohol than before the epidemic. New every consumer data also showed that almost 60% of American alcohol consumers say they are consuming less alcohol than before. According to Evergi Consumer Data, 11% of consumers who report low alcohol consumption say they are replacing alcohol with CBD drinks. Another 29% of consumers are "nothing" instead of alcohol, yet there are plenty of opportunities to keep CBD as the perfect alcohol substitute.
In order for CBD drinks to become a "non-alcoholic alternative", they must be included in the alcohol options.
2. Hydrating with Infused Waters
Drinking water is an important part of a healthy daily routine, but not everyone likes the taste of plain water. For this reason, there are plenty of flavored water, sparkling water, and salts on the market, many containing CBD, and other functional ingredients. Consuming CBD water makes it easier to stay hydrated and the drinking platform provides an effective delivery mechanism for cannabinoids.
3. More Functional, High-Quality Ingredients; Less Sugar!
Consumers focus more on their health and wellness and do their homework on factors that boost the immune system, improve bowel health, and reduce stress and anxiety. As a result, product developers are creating beverages infused with cannabinoids in combination with other efficient, high-quality ingredients such as ginger, elderberry, horseradish, rosemary, cinnamon, ginseng, and turmeric. Consumers are also more aware of their sugar intake and are looking for non-sugary drinks or using natural flavor enhancers such as berries and other fruits as a sign of sweetness.
4. Caffeine, Meet CBD
Although the combination of caffeine and CBD may seem contradictory, the pairing in the drink can give a pick-me-up for the body and clarity for the mind. Contrary to popular belief, CBD does not make drowsy but can have a calming, relaxing effect. As a result, there are more cannabinoid-infused cold-brewed coffee, iced green, and black tea on the market, giving consumers the energy, they need to take them by noon.
5. Brand promotion by celebrities
CBD's celebrity, brand, and influential advertisements are bringing CBD into the mainstream. For example, Willie Nelson and former NFL star Terrell Davis have names on different CBD-infused drinks. Recognizable brands like Coors are also entering the CBD soft drink market for further acceptance.
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On Special Requirement CBD Beverages Market Report is also available for below region:
North America
- U.S., Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South-Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA
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