CBD Beverages Market Size, Share & Growth 2023-2028
According to the latest report by IMARC Group, titled “CBD Food and Beverage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global CBD food and beverage market is expected to exhibit a CAGR of 27.23% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Industry Definition and Application:
Cannabidiol, or CBD, is a non-psychoactive chemical compound found in the cannabis Sativa plant and is generally derived from hemp due to its naturally high CBD content. It is widely used in foods and beverages as it helps in treating anxiety, seizures, osteoporosis, insomnia, inflammation, and hyperemesis. It possesses healing properties and thus aids in reducing pain and managing stress. Some commonly available CBD-infused edible products include bakery items, chocolates, tea, gummies, snacks, and ice cream. Since they eliminate exposure to tar and carcinogens, CBD foods and beverages have gained immense popularity as a healthier alternative to smoking cannabis.
Global CBD Food and Beverage Market Trends:
The shifting consumer focus toward health and wellness coupled with the rising awareness regarding the therapeutic benefits of CBD represents the primary factor driving the market growth. Moreover, several favorable initiatives by governments of various countries to legalize recreational cannabis are positively influencing market growth. In addition, due to the widespread prevalence of various respiratory ailments, there has been a significant shift toward healthier edible alternatives among the masses. Along with this, the growing consumption of CBD foods and beverages to treat nausea, muscle spasms, poor appetite, weight loss, and different types of cancer has augmented the product demand. Besides this, the surging popularity of CBD protein bars among athletes, fitness enthusiasts, and sportspersons has accelerated the product adoption rate.
Furthermore, the leading players are heavily investing in research and development (R&D) activities to formulate chemical-free and natural products with herbal ingredients. In line with this, recent product innovations, such as the launch of alcohol-free beer manufactured using CBD, have catalyzed market growth. Apart from this, the easy availability of CBD-infused foods and beverages, such as baked goods, fruit punch, cannabis cola, coffee, and tea, in various legal marijuana dispensaries is contributing to product sales. Other factors, including the escalating demand for functional beverages, inflating consumer expenditure capacities, increasing penetration of e-commerce platforms, growing health consciousness, and changing lifestyle preferences, are also creating a favorable market outlook.
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Global CBD Food and Beverage Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Alkaline88 LLC
- Beverages Trade Network
- Dixie Brands Inc.
- Green Roads (Affinity Beverage Group, Inc.)
- Kannaway LLC
- Koios Beverage Corp.
- Lagunitas Brewing Company (Heineken N.V.)
- New Age Beverages Corporation
- The Supreme Cannabis Company Inc.
The report has segmented the market on region, source, product type and distribution channel
Breakup by Source:
- Marijuana Derived
- Hemp Derived
Breakup by Product Type:
- Bakery Products
- Cereal Bars
- Ice Cream
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Convenience Stores
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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