Market Research Report
Global Cannabis Food & Beverage Market Forecast 2020-2025
|Published by||Inkwood Research||Product code||962157|
|Published||Content info||133 Pages
Delivery time: 2-3 business days
|Global Cannabis Food & Beverage Market Forecast 2020-2025|
|Published: September 25, 2020||Content info: 133 Pages||
The global cannabis food & beverage market is anticipated to grow with a CAGR of 18.35%, during the forecast years of 2020 to 2025. The key market drivers include, legalizing medical or recreational cannabis in various countries, and the rising popularity of cannabis-based wellness drinks.
The cannabis plant, also known as hemp, is a set of three plants with psychoactive characteristics, termed cannabis sativa, cannabis indica, and cannabis ruderalis. The term, hemp, is primarily used to refer to the varieties of cannabis cultivated for non-drug use. Moreover, there are over a hundred different kinds of cannabinoids, out of which cannabidiol (CBD) and tetrahydrocannabinol (THC) are the most popular.
Using cannabis for recreational purposes was prohibited in numerous countries. However, using the plant as a recreational or medical-use ingredient has supplemented the cannabis market's growth, over recent years. Many states have legalized cannabis after acknowledging its use and added health effects, as well. As a result, the market has been observing significant growth. Smaller nations are also anticipated to decriminalize cannabis in medical or recreational drinks, considering the legalization trend of cannabis in major countries.
The global cannabis food & beverage market growth analysis includes the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific is anticipated to be the fastest-growing region, across the global cannabis food & beverage market. Moreover, Australia and New Zealand's market observe significant growth, owing to the rising awareness regarding the health benefits of cannabis. The addition of the wellness and energy drinks range within the cannabis products' portfolio has resulted in the increased sale of cannabis-infused food and beverages, in the region.
Some of the distinguished companies operating in the market are, Dixie Brands Inc, Energy Drink, Lagunitas Brewing Company, General Cannabis Corp, etc.