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The CBD beverages market to be valued at US$62748.24 million by 2032
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Friday, 13 January, 2023, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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The global market for CBD drinks accounted for US$5527.13 Million in 2022. The market is anticipated to cross a valuation of US$62748.24 Million by 2032. The market is expected to grow with a CAGR of 27.5% in the forecast period.
CBD beverages have gained popularity as cannabis products were legalised by the Farm bill (Agricultural Improvement Act) in 2014. The rising awareness of the health benefits of CBD products has elevated the growth of the CBD beverages market globally. Cannabidiol is a non-psychoactive molecule found in cannabis, which is extracted from leaves, resin, and flowers of marijuana or hemp.
There is rising awareness about the health benefits of adding cannabis-infused drinks to the diet and are impelling factors of growth in the market. These cannabis drinks made their earlier appearance in the industry in commodities such as brownies and gummy bears which are often treated as unhealthy options. The drinks have become the most preferred way for consuming THC and is likely to heighten the growth of CBD drinks arcade.
What are the drivers of the CBD beverage market?
“Rising Awareness of the health benefits of CBD Beverages”
CBD beverages are considered a natural remedy for a variety of health conditions. CBD-infused beverages are believed to treat varieties of health conditions including pain, anxiety, central nervous system disease, epilepsy, and many more.
Rising awareness of consumers on the wellness of the products and a growing number of health-conscious consumers is driving the growth of the CBD beverage market. Also, consumers’ preference for natural products over pharmaceutical products will also boost the CBD beverage market. Moreover, potential customers of BVD beverages are more willing to spend on legal CBD products, especially by baby boomers.
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