PUBLISHER: Allied Market Research | PRODUCT CODE: 1179656
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179656
The global CBD wine market size was valued at $11,100 thousand in 2021, and is projected to reach $112,458.2 thousand by 2031, growing at a CAGR of 27.8% from 2022 to 2031. Cannabis or CBD are members of the Cannabaceae family of flowering plants. It's debatable how many species there are in a single plant. Cannabis Indica, Cannabis sativa, and Cannabis ruderalis are the three most common species of the drug. The region of Central Asia is generally acknowledged as the genus' native home. Hemp is another name for the cannabis plant that is occasionally used, however it only refers to the strains of cannabis that are grown for purposes other than drug production.
The global CBD wine market is analyzed on the basis of type, packaging, distribution channel, and region. By type, the market is divided into hemp-based CBD wine and marijuana-based CBD wine. By packaging, the market is divided into cans and glass bottles. By distribution channel, it is classified into online and offline. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, Switzerland, Netherlands, and the rest of Europe), Asia-Pacific (Australia and New Zealand), and LAMEA (Uruguay, Columbia, South Africa, and Rest of LAMEA).
The impact of the COVID-19 outbreak was negative on the growth of the global CBD wine market. The trade restrictions and lockdown resulted into halting of production and manufacturing units. Conversely, the recovery of the CBD wine market is expected in near future.
The use of CBD and cannabis in beverages was restricted and controlled in many nations until the beginning of the 21st century because they are viewed as drugs that give users a high. The CBD wine market, however, is anticipated to see encouraging expansion in the years to come as a result of the legalization of cannabis in numerous places during the previous few years. In the U.S., marijuana is now legal for medical use in 33 states and for adult use in 10 states. Consequently, the market for CBD wine is expanding because of this step toward the legalization of cannabis.
Established players are developing beverages produced from CBD or cannabis in response to the legalization of cannabis. There is a huge variety of CBD beverage products on the market right now. Olive oil, flavored waters, chocolate, cider, specialty tea, coffee, and lemonade are a few of these products. In addition to these goods, the newest trend in spirits is CBD-infused wine. Additionally, many of the market's well-known participants, such the Coca-Cola Company, have stated that they are actively monitoring the growth of the CBD beverage business. Walmart also has plans to offer CBD products in their Canadian locations, joining Coca-Cola in this endeavor. As a result, during the period of forecasting, this is anticipated to offer prospective prospects for the CBD wine industry.
The key players operating in the CBD wine market have adopted product launch, business expansion, and merger & acquisition as its key strategies to expand their market share, increase profitability, and remain competitive in the market. The major players operating in the global CBD wine market are Aurora Cannabis, Inc., Bodegas Santa Margarita, Callmewine, Cannavine, Cry Baby Wine, Diageo, DrinkSipC, Heineken NV, Hempfy, Hexo Corporation, House of saka, Lagunitas, Molson Coors Beverage Company, Rebel Wine.Co.UK, and Wines of Uruguay.
Key Benefits For Stakeholders
By Type
By Packaging
By Distribution Channel
By Region