PUBLISHER: 360iResearch | PRODUCT CODE: 1491646
PUBLISHER: 360iResearch | PRODUCT CODE: 1491646
[191 Pages Report] The Cannabis-based Alcoholic Beverages Market size was estimated at USD 5.45 billion in 2023 and expected to reach USD 5.69 billion in 2024, at a CAGR 4.38% to reach USD 7.36 billion by 2030.
Cannabis-based alcoholic beverages represent a novel category within the beverage industry, characterized by the infusion of cannabis derivatives, such as cannabidiol (CBD) or tetrahydrocannabinol (THC), into traditional alcoholic drinks. This innovative concoction combines the psychoactive and therapeutic effects of cannabis compounds with the societal and cultural practices associated with alcohol consumption. Aimed at offering consumers an alternative experience to either substance alone, these beverages are gaining popularity in regions where cannabis has been legalized for medicinal or recreational purposes. They are formulated under strict regulations to ensure a balanced and safe integration of both components, catering to a niche yet growing market of consumers seeking unique sensory experiences. However, social stigmas associated with cannabis consumption can limit market acceptability. The potential health risks and legal liabilities of combining alcohol with THC also pose significant concerns. Nevertheless, innovation in product development, especially in creating non-alcoholic versions that cater to sober, curious, or health-oriented consumers without compromising the sensory experience, provides lucrative opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 5.45 billion |
Estimated Year [2024] | USD 5.69 billion |
Forecast Year [2030] | USD 7.36 billion |
CAGR (%) | 4.38% |
Regional Insights
The Americas represent a dominant segment within the global cannabis-based alcoholic beverages market, primarily driven by legislative advancements in both North and South America. The United States and Canada are at the forefront, with several states and provinces legalizing cannabis for recreational and medical use. This legal landscape provides fertile ground for the development and distribution of cannabis-infused alcoholic beverages. In Latin America, countries including Uruguay and the progressive regulations in parts of Mexico are opening new avenues for market entry and expansion. Europe is witnessing a burgeoning interest in cannabis-based products, including alcoholic beverages, propelled by changing perceptions towards cannabis, regulatory relaxation, and a booming CBD market. Countries such as Germany, the Netherlands, and Switzerland are pioneering cannabis reform, significantly influencing market dynamics and consumer openness towards cannabis-infused alcoholic beverages. The Asia Pacific region is in its infancy, largely due to strict cannabis laws and cultural resistance. Nonetheless, there's potential for growth in countries including Thailand, which recently decriminalized cannabis, and Australia, with its progressive stance on medical cannabis. Japan and South Korea have also shown interest in CBD, albeit in non-alcoholic contexts, indicating a possible future opening for alcoholic applications.
Market Insights
The market dynamics represent an ever-changing landscape of the Cannabis-based Alcoholic Beverages Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cannabis-based Alcoholic Beverages Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cannabis-based Alcoholic Beverages Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Weed-infused beer is now available
Ceria Brewing Co. has introduced the revolutionary Grainwave Belgian-Style White Ale, a cannabis-infused beverage that targets the evolving preferences of younger consumers. Crafted meticulously, Grainwave offers a familiar beer-tasting experience, enriched with five milligrams of THC per bottle, ensuring a quick absorption that mimics the rapid onset of alcohol's effects. This product innovation comes as an answer to the legal restrictions placed by The Alcohol and Tobacco Tax and Trade Bureau (TTB) on combining alcohol and THC, steering clear by operating under non-alcoholic parameters and state regulations. [Published On: 2024-01-24]
Introducing Nowadays, The First Nationally Available Cannabis-Infused Spirit
Introducing Nowadays offers a novel solution that effortlessly blends into any social setting. Crafted for those seeking an alternative to traditional alcohol, Nowadays presents its unique concoctions in 750ml bottles, catering to varying preferences with its Low Dose and MicroDose options. Engineered for rapid and reliable effect, this innovative spirit ensures a gentle elevation within 15 minutes, devoid of the undesirable aftermath commonly associated with alcohol. [Published On: 2023-04-12]
Harpoon Brewery Launches THC-Infused Beer in Massachusetts
Harpoon Brewery has partnered with Novel Beverage Co. to introduce an innovative THC-infused non-alcoholic beverage called Rec. Weed. Designed for the evolving adult beverage market, particularly in regions where THC legalization is widespread, Rec. Weed offers a unique drinking experience. This refreshing offering features a blend of real passion fruit puree, green tea, and hops, delivering a hop-forward taste profile. Crafted with 5mg of THC and containing only 25 calories and 3g of sugar per serving, it is an approachable choice for health-conscious consumers. Unlike traditional beers, Rec. Weed is brewed similarly to a session ale but excludes the fermentation process, thus eliminating alcohol from its content. [Published On: 2023-02-22]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cannabis-based Alcoholic Beverages Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cannabis-based Alcoholic Beverages Market, highlighting leading vendors and their innovative profiles. These include 66° Beverage Company, Anheuser-Busch InBev, CannaVines, CBD Vines, Ceria Brewing Co., Dutch Windmill Spirits BV, Flying Dog Brewing Co., Green Times Brewing, Greenway Wines, Harpoon Brewery, Heineken NV, Hop Chronic, House of Saka, Inc., Humboldt Brewing Company, Klosterbrauerei WeiBenohe GmbH and Co.KG, New Belgium Brewing Company, Nowadays, Province Brands, Rebel Coast Winery, and Winabis.
Market Segmentation & Coverage