Cannabis Based Beverages Market 2022-2030: Rising Awareness About Medicinal Properties Of Cannabis
The Global Cannabis Based Beverages Market size is expected to reach USD 5.84 Billion in 2030 and register a revenue CAGR of 17.4% over the forecast period, according to latest report by Reports and Data. Legalization of marijuana and increasing number of new start-ups producing cannabis beverages are expected to drive market revenue growth during the forecast period. Increasing global awareness about medicinal properties of cannabis, along with its other utilities is leading to legalization and decriminalization of cannabis in multiple countries. Colorado and Washington became the first states in North America to legalize marijuana for recreational purposes. Similarly, possession and consumption of marijuana is now legal in several countries in Europe.
Increasing number of new start-ups for manufacturing cannabis beverages due to rising demand for alternative non-alcoholic and healthy beverages is expected to boost revenue growth of the global market. Major beverage manufacturers are expanding customer base in various regions where cannabis is legalized and decriminalized, in order to expand brand inventory and market footprint by novel manufacturing cannabis-infused beverages.
However, higher cost of extraction and processing of chemical components of cannabis and lack of research on long-term effects of cannabidiol (CBD) and tetrahydrocannabinol (THC) are factors hampering market revenue growth. In addition, lack of uniform standards and regulations in regional markets is another factor hindering revenue growth of the global market to some extent.
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The Cannabis Based Beverages market investigation report assesses the global market for the Cannabis Based Beverages industry and provides revenue and capability forecasts for the projected period of 2020-2027. The factors that drive the industry’s growth are highlighted in the report. The report divides the Cannabis Based Beverages market into main categories such as forms, applications, end-users, technology, and others for a better understanding. These segments are thoroughly examined in order to provide a more accurate outlook for the global and regional markets. The report also examines the industry’s major players, including their product portfolios, company overviews, strategic growth strategies, revenue generation, market share and size, geographic presence, and development and manufacturing capabilities.
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Cannabis Based Beverages market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Cannabis Based Beverages market.
The global Cannabis Based Beverages market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation based on Product Type:
- Alcoholic Beverages
- Non-alcoholic Beverages
Market Segmentation based on Application:
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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