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Cannabis Beverages Market to Reach USD 8,521.6 Million by 2027; Rising Trends of Using Herbal, Natural, & Chemicals-free Products to Favor Growth

September 15, 2020 | Food & Beverages

The global cannabis beverages market size is projected to reach USD 8,521.6 Million by 2027. The increasing trends of using chemical-free, natural, and herbal products in the developed countries is set to affect growth positively. This is published in a new report by Fortune Business Insights™, titled, Cannabis Beverages Market Size, Share & COVID-19 Impact Analysis, By Type (Alcoholic and Non-alcoholic), Distribution Channel (Mass Merchandisers, Specialty Stores, Online Retail, and Others), and Regional Forecast, 2020-2027.” The report further states that the market stood at USD 367.4 Million in 2019. But, it is set to exhibit a CAGR of 50.9% in the forecast period between 2020 to 2027.


Tinley Beverage Company Expands its Bottling Facility in Coachella Valley


In March 2019, the Tinley Beverage Company Inc., a renowned producer and distributor of beverages headquartered in California, expanded its Phase 2 bottling facility in the Coachella Valley. This new facility will now be used to produce cannabis type of beverages. It is capable of producing 3 million bottles per year. The next]-generation versions of the company’s non-alcoholic, cocktail-inspired cannabis beverages are set to be produced and delivered to stores, starting from April. They will be made in compliance with the new California regulations.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/cannabis-beverages-market-100738


High Rate of Sales from Off-trade Channels to Augment Growth


Off-trade channels, namely, lounges, clubs, and restaurants are exhibiting a high rate of sales of customized cannabis-based beverages. Tetrahydrocannabinol (THC) is a major attraction amongst the consumers worldwide as they get to experience the feeling of ‘euphoric high’ through these type of beverages. Also, the rising evolution of these drinks by numerous companies would propel the cannabis beverages market growth in the coming years. In addition to this, the increasing demand for healthy edibles is further boosting the sales of these beverages.


However, the trend of eating out amid the COVID-19 pandemic has declined the demand for such drinks. The government agencies have imposed strict lockdown and social distancing measures across the globe to prevent transmission of the coronavirus. It is severely affecting sales of the dairy, beverages, and bakery sectors. Therefore, the market may exhibit obstruction in the near future.  


Key Players Aim to Invest in Broadening Their Production Capacities


The market is fragmented with the presence of a large number of manufacturers. Most of them are investing hefty amounts of money to broaden their production capacities by developing new facilities. Some of the others are striving to transform the way the beverages are produced.


Fortune Business Insights™ lists out the names of the renowned cannabis beverages manufacturers operating in the global market. They are as follows:



  • 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)


A Significant Industry Development-



  • April 2019: The Cannabis Beverage Producers Alliance, including 10 renowned companies, is planning to transform the way cannabis beverages are developed. Health Canada opened up a 60-day public consultation period in 2018 which ended in February 2019. The group is asking the government to change its regulations about the venue of production of these beverages.  


Further Report Findings-



  • In 2019, North America generated USD 335.1 million in terms of revenue backed by the exponential growth of the functional beverage market in the U.S. The region is expected to remain dominant in the coming years.

  • Latin America, Asia, and Oceania would showcase slow growth owing to the imposition of stringent laws by the government on the distribution and production of THC products.

  • Based on type, the non-alcoholic segment is anticipated to grow rapidly throughout the forthcoming period by earning the highest cannabis beverages market share. This growth is attributable to the rising popularity of such beverages containing low calories and nutritional superiority.


The market can be segmented in the following way:








































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million)



Segmentation



By Type



  • Alcoholic

  • Non-alcoholic



By Distribution Channel



  • Mass Merchandisers

  • Specialty Stores

  • Online Retail

  •  Others



By Region



  • North America

    • By Type

    • By Distribution Channel

    • By Country

      • USA

        • By Type



      • Canada

        • By Type







  • Europe

    • By Type

    • By Distribution Channel

    • 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

    • By Distribution Channel

    • By Country

      • Latin America

        • By Type



      • Asia & Oceania

        • By Type








Cannabis Beverages Market
  • PDF
  • 2019
  • 2016-2018
  • 130

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    8850

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