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How Popular Are Cannabis Drinks And Beverages In The United States?

Products in the cannabis drinks sector can come in various forms, including infused tonics and sodas. Some companies are incorporating resealable tops to their cannabis-infused sodas, which is very helpful when trying to stick to a precise dosage. An example can be found in the video below:

According to cannabis data company BDSA, and as originally reported by the Cannabis Business Times, “In Q1 2024, cannabis beverages brought in $50 million in total retail sales across BDSA-tracked markets (AZ, CA, CO, FL, IL, MA, MD, MI, MO, NV, NJ, NY, OH, OR, PA), representing a 6% dollar share of total edible sales, and a 1% share of total cannabis sales, according to the firm.”

“Three-fourths (75%) of edibles consumers in medical and adult-use markets claim they have consumed gummies in the past six months, compared to 8% who report consuming carbonated cannabis beverages or teas, respectively, per BDSA Consumer Insights.” the Cannabis Business Times also reported.

The United States hemp-derived THC beverage market is projected to reach $4.1 billion by 2028 according to a recent market analysis by Euromonitor International. The researchers at Euromonitor International estimated that the market was worth $239 million in 2023.

The hemp-derived THC beverage sector has greatly benefitted from the national 2018 Farm Bill that legalized hemp production across the United States. Adult-use cannabis beverages are commonly sold at licensed cannabis dispensaries, however, hemp-derived THC beverages are sold through a wide variety of retailers, including online retailers.

Euromonitor International is projecting that hemp-derived beverages will experience considerably more growth in the coming years compared to adult-use beverages.

euromonitor international us hemp cannabis thc beverages market 2023 2028

“In 2023, sales of cannabis beverages (excluding hemp-derived intoxicating products) reached USD952 million, making up nearly 3% of the total cannabis market.” Euromonitor International stated.

The global cannabis-infused drinks market was estimated to be worth $400 million in 2022 and is projected to reach $8.7 billion in value by 2032 according to a separate market analysis by Fact.MR. The market analysis entity is located in Ireland.

“This astounding market growth is because worldwide demand for cannabis infused drinks is estimated to surge at a CAGR of 37.8% through 2032.” Fact.MR stated in a news release.

“The projected share of the European Market on the global platform is 41% in the coming years.” the researchers also stated. The researchers estimated that the U.S. market will grow at a CAGR of 10.1% through the forecast period, and India will experience a CAGR of 8.1%.

Research and Markets also recently released a cannabis drinks market analysis in which it found that “the global market for Cannabis Beverages estimated at US$1.2 Billion in the year 2023, is projected to reach a revised size of US$3.8 Billion by 2030, growing at a CAGR of 15.6% over the analysis period 2023-2030.”

“Non-Alcoholic Cannabis Beverages, one of the segments analyzed in the report, is projected to record 16.1% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the Alcoholic Cannabis Beverages segment is estimated at 14.6% CAGR for the next 8-year period.” Research and Markets stated in a press release.