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Base Year
Historical Year
Forecast Year
The global cannabis beverage market value reached a value of USD 255.00 million in 2023. The industry is further expected to grow at a CAGR of 30.3% in the forecast period of 2024-2032 to reach a value of USD 2,763.84 million by 2032.
Global Cannabis Beverage Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2023 |
Forecast Period | USD Million | 2024-2032 |
Market Size 2023 | USD Million | 255.00 |
Market Size 2032 | USD Million | 2,763.84 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 30.3% |
CAGR 2024-2032 - Market by Region | EMEA | 32.3% |
CAGR 2024-2032 - Market by Country | Canada | 39.3% |
CAGR 2024-2032 - Market by Country | USA | 36.1% |
CAGR 2024-2032 - Market by Type | Non-Alcoholic | 36.4% |
CAGR 2024-2032 - Market by End Use | HoReCa | 39.4% |
Market Share by Country 2023 | Canada | 4.6% |
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Increasing demand for wellness drinks is anticipated to drive the expansion of the industry. The low sugar content of the product as well as the presence of an appropriate quantity of cannabis for consumption are among the drivers projected to fuel the cannabis beverage market demand. The legalization of marijuana consumption for medical and recreational purposes in many countries is predicted to drive the assembly as well as demand for cannabis-infused beverages.
The rising use of cannabis for the treatment of varied diseases like neurological disorders, cancer, and pain control is predicted to drive the demand for cannabis drinks. Growing consumer interest in cannabis edibles is additionally expected to boost the growth of the cannabis beverage market.
Cannabis consumers are shifting their interest from smoking cannabis to other ways, like beverages, tinctures, chocolates, and other edibles further boosting the cannabis beverage industry revenue.
The cannabis beverage market dynamics and trends are being positively influenced by the cultivation of cannabis. The legalisation of cannabis for medical and recreational purposes across various states and provinces has established a regulated market with clear guidelines. Additionally, the United Nations Office on Drugs and Crime reported in 2020 that North America had the highest annual cannabis usage rate, around 16%. In Oceania, Australia and New Zealand showed a prevalence rate of nearly 12%. Western and Central Europe reported a rate of about 8%, while Eastern and Southeastern Europe had rates of around 4%. In Africa, North Africa and West and Central Africa had prevalence rates of 9% and 6% respectively. Central America and the Caribbean had rates of about 2% and 3%. In Asia, subregions including Central Asia, Transcaucasia, and East and Southeast Asia reported rates below 3%.
According to Industry reports, by State, Oregon's legal cannabis market, covering both adult use and medical, reached around USD 1.25 billion in 2021. By 2022, this figure rose to approximately USD 1.4 billion. The illicit cannabis market was about USD 300 million in 2021. The legal market's expansion from 2021 to 2022 saw an increase of roughly USD 150 million.
According to industry reports, e-commerce in Egypt grew from 3% in 2021 to 4% in 2022. Kenya saw a significant increase, with e-commerce accounting for 2% of total retail sales in 2021, which doubled to 4% in 2022. South Africa experienced a rise in e-commerce share, from 3% in 2021 to 4% in 2022. Nigeria has consistently demonstrated a robust e-commerce presence, accounting for 7% of total retail sales in both 2021 and 2022. This trend further supports the growth of the cannabis beverage market, as e-commerce platforms enable cannabis beverage companies to expand their reach beyond local or regional markets to a national or even international customer base.
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“Global Cannabis Beverage Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Component
Breakup by Distribution Channel
Breakup by End Use
Market Breakup by Region
CAGR 2024-2032 - Market by | Country |
Canada | 39.3% |
USA | 36.1% |
South Africa | 33.9% |
Thailand | 28.2% |
Germany | XX% |
Mexico | XX% |
Malta | XX% |
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Consumers are willing to consume concentrated and cannabis-infused products, which successively, is anticipated to support the growth of the cannabis beverage industry. Cannabis beverages are predicted to exchange other marijuana-infused consumables, like chocolates, cookies, and brownies, and confectionaries like gummies and candies which are not healthy. This factor is predicted to spice up the demand for cannabis drinks over the forecasted period.
Consumers are shifting their choices from soft drinks to wellness drinks resulting in the increasing sale of cannabis beverages off-trade sales channels like hotels, cafes, restaurants, clubs, and lounges are expected to boost the recognition of the product among consumers.
Cannabis beverages offer notable advantages for both household and HoReCa (Hotel, Restaurant, and Café) applications. For home use, they deliver convenience, discreet consumption, precise dosage control, and a range of flavours, serving as a healthier alternative to smoking.
In the HoReCa sector, these beverages enhance the customer experience with unique options, help businesses distinguish themselves from competitors, and generate additional revenue. They also align with wellness trends and comply with established regulations in legal regions, ensuring safe service. Overall, cannabis beverages meet various consumer needs and preferences, driving further demand of the cannabis beverage market.
The companies are concentrating on creating cannabis-infused non-alcoholic beverages by forming partnerships and joint ventures, including various collaborative efforts.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Component |
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Breakup by Distribution Channel |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Cannabis Beverage Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global cannabis beverage market attained a value of nearly USD 255.00 million.
The global cannabis beverage market is assessed to grow at a CAGR of 30.3% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 2,763.84 million by 2032.
The major drivers of the market include growing population, the rising demand for wellness drinks, and the increasing use of cannabis for the treatment of varied diseases like neurological disorders, cancer, and pain control.
Growing legalisation of marijuana and the rising number of consumers shifting interest from smoking cannabis to other modes of consumption including beverages are the key trends of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on type, market segmentations include alcoholic and non-alcoholic.
The components of cannabis beverage include cannabidiol (CBD) and tetrahydrocannabinol (THC).
The distribution channels in the market are hypermarkets and supermarkets, convenience stores, mass merchandisers, speciality stores, and online, among others.
The diverse end uses of cannabis beverages are household and HoReCa.
The competitive landscape consists of Anheuser Busch Inbev NV, Canopy Growth Corporation, Dixie Elixirs LLC, Phivida Holdings Inc., and Tilray, Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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