Cannabis Beverages Market Sees Strong Growth in North America Due to Increasing Legalization of Marijuana

Cannabis has shown a rapid boom in terms of mass consumer appeal around the world, and its recreational usage is far greater than the medicinal use. Cannabis beverages includes different types of alcoholic and non-alcoholic beverages which are infused with cannabis or marijuana. The popularity of cannabis beverages is the increasing due to increasing demand for wellness drinks by consumers. Consumers are looking forward for cannabis beverages owing to low sugar content, clean ingredients, and an appropriate amount of cannabis. Moreover, increasing awareness among people about the health benefits of cannabis beverages has led to an increase in the demand for cannabis beverages.

Health benefits include prevention in weight gain, improvement in sleep disorders, controlled blood pressure, and release anxiety and depression. The aforementioned factors are key reasons behind the growth of the cannabis beverages market. Furthermore, growing concerns among consumers about calories and hangovers have encouraged companies operating in the food and beverage industry to invest in cannabis beverage products. For example, in June 2021, Nirvana Group launched cannabis beverage line, Liquid Leaf. Liquid Leaf ingredients are seamlessly blended and provide a delightfully crisp taste like top-quality juice drink.

There are currently three flavors available, such as Grape (100 MG THC), Golden Pineapple (100 MG THC), Fruit Punch (100 MG THC). This in turn is also expected to propel the growth of the cannabis beverages market. The trends in alcohol and cannabis consumption rates have diverged substantially in recent times, as many countries, such as Canada and the United States, around the world have legalized marijuana use. As a result, companies are investing in cannabis beverage products to meet the growing demand for cannabis beverage products.

In 2018, the U.S. legalized cultivation of hemp, which is obtained from the cannabis plant but contains lesser THC content. It has also encouraged companies to launch new products in this region. For example, in April 2021, Truss launched six more CBD and THC beverages in Canada. The flavors are Mollo 5 Lime, Little Victory Lemonade, Veryvell Honey Green Iced Tea, XMG Citrus & XMG Watermelon, and House of Terpenes Valencene & Sparkling Tonic. The aforementioned factors are expected to augment growth of the cannabis beverage market, especially in the U.S. and Canada.

However, cannabis products are not permissible in several developing as well as developed economies. Moreover, many governments worldwide are imposing strict rules and regulations for the manufacturing and marketing of cannabis products. This in turn is expected to hinder the cannabis beverage market growth.