Cannabis Beverages Market Analysis, Development, Revenue, Future Growth, Business Prospects and Forecast to 2027

The decline in Sales of Cold Beverages Owing to COVID-19 May Hinder Growth

The emergence of the COVID-19 pandemic has compelled the regulatory bodies to implement social distancing, sanitization, and stringent lockdown measures for preventing transmission. This is further resulting in a decline in the trend of eating out. Hence, the demand for cold beverages is reducing worldwide. We are delivering accurate reports to help you better understand the current scenario of the market.

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This Report Answers the Following Questions:

• Which segment is set to lead the market and why?
• How will the market be affected amid the COVID-19 pandemic?
• How many opportunities and challenges is the market likely to come across?
• What strategies are the key players adopting to strengthen their positions?

Drivers and Restraints

Rapid Shift of Consumers towards Chemical-free and Natural Trends to Aid Growth

The consumption of cannabis nowadays is not limited to bongs, pipes, and joints. People have a wide range of choices, including infused products and concentrates. The global beverages industry is undergoing a significant transformation with the additives and ingredients. Consumers based in the developed countries, especially Europe and North America are persistently striving to shape this sector. To do so, they are rapidly inclining towards several trends, such as recognizable and herbal formulations, chemical-free, and all-natural cannabis beverages.

However, the governments of various countries are implementing stringent regulations on the distribution and manufacturing of such tetrahydrocannabinol (THC) products. This factor is likely to hamper the cannabis beverages market growth in the near future.

Segment

Online Retail Segment to Dominate Stoked by Ability to Offer Convenience and Privacy

Based on distribution channel, the online retail segment is set to remain at the forefront by generating the largest cannabis beverages market share in the coming years. E-commerce platforms enable consumers to purchase these type of beverages by providing autonomy, privacy, and convenience regarding the choice of the products. At the same time, specialty stores would showcase greater sales if they display novel products online.

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Regional Analysis

Presence of Flourishing Functional Beverage Industry to Favor Growth in North America

Geographically, North America earned USD 335.1 million in terms of revenue in 2019 and is expected to remain dominant throughout the forthcoming years. This growth is attributable to the major contribution of the U.S. as it houses a well-established functional beverage industry. Since the passing of the 2018 U. S. Farm Bill, the demand for hemp-cannabidiol (hCBD) has surged rapidly. On the other hand, Latin America, Oceania, and Asia would exhibit slow growth because of the ban of cannabis beverages in these regions.

Competitive Landscape

Key Players Focus on New Product Development to Gain Competitive Edge

The global market is regulated by certain regulatory bodies worldwide. The market possesses a competitive and dynamic structure. Key companies are focusing on the investment strategy to produce raw material for the development of state-of-the-art cannabis beverages. Some of the others are introducing novel products in the market.

List of the Leading Companies Profiled in the Global Cannabis Beverages Market are:

• 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)

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