Global Cannabis Food & Beverage Market is valued approximately at USD 425 million in 2018 and is anticipated to grow with a healthy growth rate of more than 27% over the forecast period 2019-2026. The cannabis plant is usually known as hemp, but this term is primarily used to refer to only the forms of cannabis that are developed for use of non-drug. From the past decades, it has been used to produce hemp seeds, hemp leaves, hemp fiber, and oil for use as juices and vegetables, or even in therapeutic purposes as a recreational drug. Nowadays, cannabis foods & beverages is becoming more popular due to a broad range of health benefits that include from treating insomnia, to anxiety, seizures, inflammation and chronic pain. There are more than 100 distinct types of cannabinoids are available among which tetrahydrocannabinol (THC) and cannabidiol (CBD) are the two most popular types of cannabis. Legalizing of recreational or medical cannabis in various countries, escalating demand of cannabis based wellness drink, along with rising disposable income of the consumers and improving living standards are the few factors responsible for high CAGR of the market over the forecast period. For instance, in Canada, the government has legalized the use of cannabis among adults in 2018 and is criticized to legalize cannabis fortified edibles by October 2019. Also, cannabis has been made legal across most of the countries of South and Central America, as well as Africa. Australia has also legalized the use of cannabis for medicinal purpose, and New Zealand is likely to legalize both medicinal purpose and use of cannabis for adults by 2020. This in turn is highly motivating the healthcare manufacturers to use cannabis in medicine and therapeutic drugs all over the world. However, volatility prices of raw materials and supply shortage of high quality cannabis in numerous countries are the major factor constraining the growth of global cannabis food & beverage market during the forecast period.
The regional analysis of global Cannabis Food & Beverage Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the lifting of bans on consumption of cannabis in the production of food and beverages followed by the growth of food & beverage sector in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period of 2019-2026.
Major market player included in this report are:
Dixie Brands Inc.
New Age Beverages Corporations
Beverages Trade Network
General Cannabis Corp.
The Supreme Cannabis Company
Koios Beverage Corp.
The Alkaline Water Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Cannabis Food & Beverage Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers