Cannabis Beverage Market

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CANNABIS BEVERAGE MARKET ANALYSIS

• Cannabis Beverage Market, by Product Type
  (Alcoholic (Beer, Spirits and Wine) and
  Non-alcoholic (Marijuana Tea, Cannabis Soda, and
  Cannabis Coffee Cold brew)), By End-Use
  (Household, and Restaurants Cafes),  By
  Distribution Channel (Convenience stores,
  Hypermarkets, Supermarkets, and Online) and by
  Region (North America, Latin America, Europe,
  Asia Pacific and Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2019 -
  2027

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• Cannabis beverages includes different types of
  alcoholic and non-alcoholic beverages which are
  infused with cannabis or marijuana. Rising
  concerns regarding hangovers and calorie-intake
  among consumers has encouraged companies
  operating in the food beverages industry to
  invest in production of cannabis infused drinks.
• The global cannabis beverage market was valued at
  US 205 million in 2018, and is expected to
  exhibit a CAGR of 38.3 over the forecast period
  (2019-2027), to reach US 2743.7 million by 2027.
• Shifting preference of consumers towards cannabis
  from alcohol for recreational purposes is
  expected to drive the growth of the global
  cannabis beverage market in the next few years.
  The trends in consumption rate of alcohol and
  cannabis are diverging substantially in recent
  times. Growing consumer awareness regarding the
  hazardous effects of alcohol on human health has
  led to decrease in alcohol consumption among
  consumers. According to the U.S. National Survey
  on Drug Use and Health, 2.4 million people in
  U.S., over the age of 12, started using marijuana
  in 2013, which is around 6,600 new users on an
  average in a day.
• On the basis of region, North America dominates
  the global cannabis beverage market with a
  significant share in 2018 in terms of revenue.
   In 2018, the U.S. legalized cultivation of hemp,
  which is obtained from the cannabis plant but
  contains lesser tetrahydrocannabinol (THC)
  content, by implementation of the 2018 Farm bill.
  This bill allowed broad cultivation of hemp and
  removed the restrictions on sale, transportation
  and possession of products which are derived from
  hemp. This is expected encourage companies to
  launch new products in the region.

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Figure 1.  Global Cannabis Beverage Market Share
(), Analysis, By Distribution Channel, 2018s
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• Furthermore, the increasing number of
  collaborations among leading companies with the
  goal of launching cannabis beverages is expected
  to fuel the growth of global cannabis beverages
  market. For instance, Hexo Corp., a Canada-based
  producer of cannabis products, formed a joint
  venture with Molson Coors Brewing Co., a producer
  of non-alcoholic beverages. In addition to this,
  in January 2020, Imaginary, a U.S.-based venture
  capital firm, invested US 5.0 million in Cann,
  an American company engaged in production and
  distribution of cannabis infused beverages.
• Increasing recognition of cannabis for its
  medicinal and therapeutic benefits among
  consumers around the globe is likely to promote
  the growth of the global cannabis beverages
  market. Cannabis is used a medicinal drug owing
  to various health benefits that it provides such
  as blood pressure control, improvement in
  sleeping patterns, and relief from anxiety and
  depression. Extensive research has been done by
  pharmaceutical companies to produce
  cannabis-based medicines and treatments which are
  safe for health and do not cause any harmful side
  effects to the patients.

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• The cannabis extracts which are infused in
  beverages are mainly fat soluble i.e. they cannot
  dissolve in water. The key challenge for beverage
  manufacturers is to achieve proper mixing of
  cannabis extracts into the liquid and maintain
  the shelf-stability of the products. However, the
  fat-soluble nature of cannabis extracts means
  that its psychoactive effects are delayed and
  consumers end up consuming excessive quantities.

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Global Cannabis Beverage Market Opportunity
Analysis
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• Key players operating in the global cannabis
  beverages market are focusing on launching new
  cannabis infused beverage products. For instance,
  in 2018, Lagunitas Brewing Company, a subsidiary
  of Heineken International involved in production
  of craft beers, launched its new range of
  cannabis infused beverages named Hi-Fi Hops.
  Furthermore, Top Beverages, a craft distiller of
  spirits and alcohol, launched a range of
  cannabis-based alcoholic beverages in November
  2019. This scenario is projected to drive the
  market growth in coming years.
• Major players operating in the global cannabis
  beverage market include MedReleaf Corp., Cronos
  Group Inc., GW Pharmaceuticals, Plc., CannTrust
  Holdings Inc., VIVO Cannabis Inc., Tilray Inc.,
  General Cannabis Corporation, Koios Beverage
  Corporation, New Age Beverages Corporation, Dutch
  Windmill Spirits, Heineken, The Supreme Cannabis
  Company, and SK Rodnik.

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