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Cannabis Beverages Market Size, Share & Industry Analysis, By Type (Alcoholic and Non-alcoholic), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, and Others), and Regional Forecast, 2024-2032

Last Updated: June 24, 2024 | Format: PDF | Report ID: FBI100738



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The global cannabis beverages market size was USD 2.04 billion in 2023 and is projected to grow from USD 3.09 billion in 2024 to USD 117.05 billion by 2032, at a CAGR of 57.50% during 2024-2032. North America dominated the Cannabis Beverages Market with a market share of 92.65% in 2023.

Cannabis has showcased a rapid surge in terms of mass consumer appeal around the world. Its recreational use is by far greater than its medicinal application, also taking into consideration its illegal consumption. The global market is expected to gain momentum from the increasing penetration of cannabis in the untapped consumer markets, such as Thailand, Australia, and others. Its legalization is gaining impetus worldwide, which is primarily fueled by the increasing awareness towards its various medicinal benefits and therapeutic distribution channels.

Furthermore, the growing consumers’ inclination towards experimenting with new and innovative food and beverage has also augmented the market performance. Consumers who are beginners in the product usage are seeking accessible, discreet, and regulated amounts of the substance, which in turn aids in driving the market growth.

The COVID-19 pandemic outbreak led various governments across the globe to impose strict lockdown and social distancing measures. Market closures, diminished eating-out trends, and restrictions in public mobility led the consumers confined to their homes. This also caused increased stress, panic-buying and stockpiling among the consumers during the initial stages of lockdown, which promoted the and cannabis-infused product sales. Along with this, the government declared the substance retail stores and dispensaries as essential, which contributed to boost the product sales. This also encouraged various manufacturers to introduce new brands and advancements in cannabis infusion technology to cater the rising consumer demands.

For instance, in January 2024, Aurora Cannabis Inc., an American cannabis product manufacturing company, expanded its beverages portfolio by introducing three new products with three fruity flavors: Neon Rush, Strawberry Pineapple Tropical Fizz, and Pineapple Coconut Fizz. The newly launched products would be available across Aurora Medical shops and online retails. According to a survey conducted by Truss Beverage Co., in November 2020, 35% of the respondents preferred consuming drinks infused with the substance instead of smoking. Furthermore, a significant increase in the number of consumers seeking healthier, less sugary, and low-alcohol beverages have influenced their product consumption due to their health-benefiting attributes.

Cannabis Beverages Market Trends

Increasing Product Popularity Owing to Various Health Benefits  

Majority of the cannabis-infused consumables that made their first market appearance were baked commodities such as cookies, brownies, or confections such as candy bars and gummy bears, which are generally viewed as unhealthy. Beverages have emerged as the most accessible way for the consumption of tetrahydrocannabinol (THC) as far as the whole gamut of edibles is concerned. Moreover, such beverages are showcasing robust popularity owing to their superior functional benefits, portion-controlled doses, ease of administration, and availability.

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Cannabis Beverages Market Growth Factors

Fundamental Transformation in Beverage Industry to Support Growth

Cannabis consumers are gradually shifting from smoking flowers using pipes, joints, and bongs towards products such as infused edibles and concentrates, which offer numerous options to choose from. The beverages sector within itself is undergoing a massive evolution by experimenting with various ingredients and additives. Consumers, especially in the developed markets of North America and Europe are constantly shaping the category amidst ‘all-natural’, ‘chemicals-free,’ and with ‘recognizable and herbal formulations’ trends and developments. Furthermore, key industry players are grabbing opportunity to expand their share in retail shelves though offering innovative and novel products. For instance, in February 2024, Tilray Brands, Inc., a leading global ready-to-drink cold brew tea beverages manufacturing company, introduced its novel cannabis-infused cold brew teas, Peach Cranberry and Wildberry Hibiscus, under its Solei brand. This product is mildly sweet and comes packed in 355 ml cans.

Growing HoReCa Sector and Modern Trade Practices to Proliferate Revenue

The boom in beverages industry, especially exhibited by the off-trade sales channels such as restaurants, clubs, lounges, and more, is further expected to propel sales of customized cannabis-infused beverages. Even though, for experiencing the ‘euphoric high’, THC has emerged as a major attraction and preferred product among consumers, the market is showcasing a major transformation with the robustly growing demand for cannabidiol (CBD)-infused drinkables. A surged in demand for health-promoting edibles made using cannabis extracts, has further augmented the product sales.


Stringent Restrictions on Product Sales in Some Regions to Obstruct Growth

Cannabis beverages are popular as they offer THC effects to the consumers, which is not permissible in several developing, as well as developed economies. The governments of such nations are imposing laws for the manufacturing and marketing of THC products in the industry. Furthermore, consumers are not aware about the products and their benefits, which is also impeding the market growth.

Cannabis Beverages Market Segmentation Analysis

By Type Analysis

Non-alcoholic Segment to Grow Rapidly Backed by High Demand for Nutritious Products

Based on type the, the market is segregated into alcoholic and non-alcoholic. The entire segment of alcoholic beverages is facing the risk of disruption given the ability of the substance to replicate the effect of alcohol with zero calories and with established health benefits. The current trend in the beverages space is also resonating favorably for infused products and herbal formulations. The global industry has exhibited a robust popularity of low and no-alcoholic drinks that have reduced calories along with nutritional superiority. The emergence of the product category is primarily driven by private-label brands and start-ups, which are intensively capitalizing on the therapeutic benefits of the substance.  

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By Distribution Channel Analysis

Online Retail Segment to Lead Fueled by Enhanced Autonomy & Privacy

Cannabis-based beverages have showcased rapid demand over the e-commerce channels, which offer enhanced convenience, privacy, and autonomy regarding the choice of the products. Cannabis companies have exhibited greater sales from licensed dispensaries, which opens up a plethora of opportunities for specialty stores to display innovative and flavorful beverages infused with active principles from the substance. Moreover, such distribution channels are expected to act as ‘one-stop-for-all’ regarding cannabis-based edibles, which are set to gain a greater growth trajectory amid the rapidly spreading legislation wave. But, the hectic lifestyles of the millennial population will make them retain the online channels for the purchase of these type of beverages.


North America Cannabis Beverages Market Size, 2023 (USD Billion)

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North America to Witness Robust Growth Led by Growing Cannabis Legalization

North America is at the forefront of the cannabis-infused beverages sector, and accounted for USD 1.89 billion in 2023. The sector was spearheaded by the U.S. where the functional beverage market is exhibiting an exponential growth trajectory. Cannabis-infused products, especially the category of hemp-cannabidiol (hCBD), received a major thrust after the passing of the 2018 U. S. Farm Bill, which legalized the usage of hemp and hemp-derived CBD products nationwide. The region is among the main contributors in driving the global cannabis beverage market.

The incorporation of CBD in any beverage available such as coffee, tea, drinking water, soda, and others have gain significant traction among consumers, making Europe as the fastest-growing region. The growing CBD trend among the people mainly due to its nutritional properties has helped in boosting the market performance. Further, various major players are showing their interests towards CBD-infused drinks, coupled with growing legalization cannabis in various countries across the region is anticipated to fuel regional market growth.

Since the legalization of cannabis in Canada, the consumer’s inclination towards cannabinoid-based products and their willingness to try new cannabis infused drinks has grown, which is likely to propel the market growth in the upcoming years.

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Cannabis-based beverages have exhibited comparatively lower growth in the developing regions such as Asia, Oceania, and Latin America owing to the ban of THC products in the market. However, the growing awareness about the health benefits associated with consuming cannabis is anticipated to boost growth in these regions as well. In 2019, Thailand became the first Southeast Asian country to legalize marijuana for medical purposes, with relaxed regulations on allowing hemp extracts in food, beverage, and cosmetics.

Furthermore, the gradual uptick in legalized recreational use of cannabis has sparked the interest of manufacturers to capitalize on cannabis consumables. However, the use of cannabis is not allowed in countries such as India, China, and others.

The market across the rest of the world includes South Africa, British Colombia, Zimbabwe, and other countries. The product demand is anticipated to grow at a speedy pace due to the legalization of the product for recreational as well as medical use paired with adult spending on cannabis products. Further, product innovation and launches will likely push industry growth to the next height.

List of Key Companies in Cannabis Beverages Market

Manufacturers Focusing on Delivering Novel Cannabis-infused Beverages

The cannabis beverages market growth is highly regulated by various government bodies across the world. Dynamic, competitive, nascent, and untapped market structures have been present in the global cannabis beverages space. The market is also showcasing extensive investments by key players in the production and supply of raw materials for developing innovative and novel beverages.

Recently, in November 2023, Nevis Brands Inc., one of the cannabis beverage producers, signed a partnership agreement with  VBJG Mt. Clemens LLC, a Michigan-based company, to distribute the company’s  Major™ product lines.


  • Aurora Cannabis Inc. (Edmonton, Canada)

  • Aphria Inc. (Leamington, Canada)

  • Canopy Growth Corporation (Canada)

  • MedReleaf Corp. (Edmonton, Canada)

  • Cronos Group Inc. (Toronto, Canada)

  • GW Pharmaceuticals, plc. (Cambridge, U.K.)

  • CannTrust Holdings Inc. (Vaughan, Canada)

  • VIVO Cannabis Inc. (Ontario, Canada)

  • Tilray (Nanaimo, Canada)

  • OrganiGram Holdings (Moncton, Canada)


  • August 2023 -  Tilray Brands, Inc., a global cannabis product company, acquired  Truss Beverage Co.™ (Truss) from Molson Coors Canada. This acquisition would allow the company to expand its market presence.

  • March 2023 - Happi, a cannabis-infused seltzer manufacturer, launched its new functional cannabis infused seltzers - Happi Glow and Happi Nightcap. These products are developed with a unique blend of minor cannabinoids and non-psychedelic lion's mane and reishi mushrooms.

  • October 2021 - BevCanna Enterprises Inc., an emerging innovative health & wellness beverages manufacturer, entered a partnership agreement with Averi Health Products, a beverage company, to develop and distribute white-label cannabis beverages.

  • August 2021 – Cann, a Californian THC beverage manufacturer announced the launch of Passion Peach Mate, first-of-its-kind caffeinated cannabis beverage. The manufacturer launched this product line to offer all-natural caffeine with micro dose of THC to the consumers as they seek alternatives to alcohol.

  • April 2021 – Molecule Holdings Inc., introduced Molecule Crafted™ cannabis-infused craft beverage range in Canada. These beverages are low in calories and available in various exotic and bold flavors.


An Infographic Representation of Cannabis Beverages Market

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The research report provides qualitative and quantitative insights on the cannabis beverages industry and a detailed analysis on its market size and growth rate for all possible segments in the market. The market is segmented by type, distribution channel, and geography. Based on type, the global market is categorized into alcoholic and non-alcoholic. The market is also segmented by distribution channel into mass merchandisers, specialty stores, online retail, and others. Geographically, the market is segmented into three major regions, which are North America, Europe, and Rest of the world. The regions are further categorized into countries.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value (USD Billion)

Growth Rate

CAGR of 57.50% for 2024 to 2032









By Type

  • Alcoholic

  • Non-alcoholic

By Distribution Channel

  • Mass Merchandisers

  • Specialty Stores

  • Online Retail

  • Others

By Region

  • North America (By Type, Distribution Channel, and By Country)

    • U.S. (By Type)

    • Canada (By Type)

  • Europe (By Type, Distribution Channel, and By Country)

    • Germany (By Type)

    • U.K. (By Type)

    • Netherlands (By Type)

    • Czechia (By Type

    • Rest of Europe (By Type)

  • Rest of the World (By Type, Distribution Channel, and By Country)

    • Latin America (By Type)

    • Asia and Oceania (By Type)

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 2.04 billion in 2023 and is projected to reach USD 117.05 billion by 2032.

In 2023, the North America market value stood at USD 1.89 billion.

Registering a CAGR of 57.50%, the market will exhibit steady growth during the forecast period (2024-2032).

The non-alcoholic segment is expected to be the leading segment in this market during the forecast period.

The growing HoReCa sector is one of the major factors driving the growth of the market.

Aurora Cannabis Inc., Aphria Inc., Cronos Group Inc., and Tilray are some of the major players in the market.

North America dominated the market in terms of share in 2023.

The increasing legalization and approvals are expected to drive the adoption of these beverages.

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