CBD-Infused Beverages Market Report Focus On Landscape | Current And Future Development 2023-2030
The global CBD-infused beverages market size was evaluated at $3 billion in 2022 and is slated to hit $6 billion by the end of 2030 with a CAGR of nearly 4.2% between 2023 and 2030.
Growth in the global market for CBD-infused beverages is being driven by the increasing health benefits that CBD offers, including better digestion, weight control, and immunity enhancement. Other than this, they are becoming more and more well-liked by customers, especially in areas where hemp is cultivated extensively.
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Overview of the CBD-Infused Beverage Market
Beverages infused with CBD are made from a non-psychoactive part of cannabis. The non-psychoactive cannabis molecule is purportedly generated from hemp and marijuana plants. It has tea, coffee, beer, and water infusions. Additionally, CBD-infused drinks have the power to reduce anxiety and pain while also healing disorders related to cognition and movement. Some other advantageous therapeutic qualities of these drinks include better immunity and efficient digestion as well as toxin flushing. It also aids in blood pressure maintenance, which reduces the likelihood of heart disease.
Crucial Findings
• Our research analyst’s analysis indicates that over the forecast period (2023–2030), the global market for CBD-infused drinks is expected to increase at a rate of about 4.2% yearly.
• The market for CBD-infused beverages was estimated to be worth approximately $3 billion globally in 2022 and is projected to grow to $6 billion by 2030 in terms of revenue.
• Over the course of the projection period, the global market for CBD-infused drinks is expected to expand quickly due to the increasing health benefits that CBD offers, including better digestion, weight control, and immune enhancement.
➤ Global market trends will be driven by health benefits awareness
In addition, they have numerous uses in hydration and replenishment procedures. They are therefore in demand in the field of sports medicine since they enhance athletic performance. Additionally, the product’s increasing use in skincare and the treatment of skin conditions has aided in its global market penetration. The market’s growth in the near future will be mostly driven by the introduction of new products. Giving an example, Sephora introduced a skincare lotion containing cannabidiol to its current product range in the first half of 2023. Additionally, Ulta Beauty said in the first quarter of 2023 that it would introduce a novel line of items infused with cannabidiol, significantly boosting the profits generated by the global market.
➤ Strict regulations governing the product’s sale and purchasing can impede the growth of the sector globally
Tight government regulations governing the product’s applications and consumption may impede the expansion of the CBD-infused beverage market globally. Aside from this, the illicit harvesting and distribution of cannabis without a prescription has led to the prohibition of its production and use in several nations. Furthermore, excessive product use can impair nervous system function, causing paralysis and even death in people, and as a result, sales and purchases of the product have decreased.
➤ Over 2023–2030, the global market will see new growth opportunities as a result of growing product needs brought on by the rise in serious illnesses.
Expanding consumer demand brought on by a rise in chronic illnesses including cancer, TB, asthma, and other illnesses will create new growth prospects for the global market for beverages infused with CBD.
➤ By 2030, an increase in the cost of raw materials could pose a serious threat to the global business
The expansion of the global market for CBD-infused beverages has been significantly hampered by rising raw material and product costs as a result of limitations on manufacture, purchase, and sale as well as obtaining a license to sell the product.
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The Global CBD-Infused Beverages Market is segmented based on product, application and region
Global CBD-Infused Beverages Market: Product Segment Analysis
● Beer
● Tea
● Water
● Coffee
● Juice
Global CBD-Infused Beverages Market: Application Segment Analysis
● Marijuana-derived
● Hemp-Derived
➤ Over the projected timeframe, North America is estimated to continue holding the top spot in the global market for CBD-infused beverages
North America is expected to be a leading region over the projected timespan, having contributed over 55% of the global revenue from CBD-infused drinks market in 2022. Moreover, the rise in neurological and mental conditions among Americans and Canadians is also responsible for the growth of the regional markets. Increased prevalence of long-term illnesses including cancer and tuberculosis will drive the growth of the regional industry. Increased product consumption as a result of the region’s population seeing a rise in respiratory illnesses has fueled regional market developments.
Due to the presence of major competitors in the region, the CBD-infused beverage market in Europe is expected to grow at the quickest rate in the coming years. Additionally, the loosening of regulations governing the purchase and selling of medical marijuana has increased demand in the local market. The adult population’s high levels of work-related stress and anxiety-related problems have led to a tremendous demand for products in European countries.
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