16-Jun-2021 | Zion Market Research
Some of the key players operating in the cannabis-based alcoholic beverages are Anheuser-Busch InBev, California Dreamin', CannaVines, Dutch Windmill Spirits BV, Heineken NV, Klosterbrauerei Weißenohe GmbH & Co.KG, MJ Wines LLC, NABC, Inc., Rebel Coast Winery and Winabis, Wine & Cannabis, among others. These players are set to bolster the development of global cannabis-based alcoholic beverages market.
According to analysts at Zion Market Research, the global cannabis-based alcoholic beverages market accounted for USD 1,313 Million in 2020 and is expected to reach USD 9,825 Million by 2028, growing at a CAGR of 28.6% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Cannabis-based Alcoholic Beverages Market by Product (Cannabis-infused Beers, Cannabis-infused Spirits, Cannabis-infused Wines), by End Use (Households, Restaurants, Hotels, Cafes): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Massive Investments By Governments In Cannabis-based Alcoholic Beverages to Spur Market Growth
The global cannabis-based alcoholic beverages market is driven by the rising popularity of cannabis in medical treatments and can help in curing cancer, insomnia, chronic pain, neurological diseases which is fueling its growth. Also, with the rising craze amongst youngsters, the flavored alcoholic beverages are pretty famous and in-demand is one of the major growth factors. The growth of cannabis-based alcoholic beverages can also be observed due to the salutary rules and regulations for the consumption of cannabis in various developed nations such as U.S. and Canada as they play a major role in the growth. For example, cannabis is legalized in U.S. and Canada. Due to its medical application, it is extensively being used in India and Europe making it legal and boosting the production and sales across the globe. Also, with the increase in numbers of bars, clubs, lounges, pubs have pushed the sales of cannabis product cross the globe.
Presence of Big Players in The Region Support North American Dominance
North America held the largest market share of 73.4% in 2020. This is attributable to the increased consumption and craze amongst the youngsters for the cannabis- based alcoholic beverages. Also, there was popularity of these beverages in the population. The flexibility in the rules and regulation for the alcoholic beverages has attributed to the phenomenal growth in the sector. For legal marijuana, there is a lot of information and technical exchange. Another notable driving factor that has bolstered the market's growth is public and private investments in R&D for a safer form of consuming cannabis in recent years. The number of businesses operating in this market has increased dramatically. The variety and quantity of products delivered to end-users increases as the number of companies operating in the industry grows. As a result of the variety in the products, the market is boosted even more.
Browse the full “Cannabis-based Alcoholic Beverages Market by Product (Cannabis-infused Beers, Cannabis-infused Spirits, Cannabis-infused Wines), by End Use (Households, Restaurants, Hotels, Cafes): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028???????.” Report at https://www.zionmarketresearch.com/report/cannabis-based-alcoholic-beverages-market
The global cannabis-based alcoholic beverages market is segmented as follows:
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