Global Cannabis Alcohol Market – Industry Trends and Forecast to 2029

Cannabis Alcohol Market Analysis and Size

The industry's interest in cannabidiol-based products has skyrocketed as a result of the general public's efforts to legalise marijuana for medicinal and recreational purposes. As a result of their non-psychotropic effects, cannabis alcohol have gained popularity among consumers. The growing range of medicinal applications for cannabidiol (CBD), such as neurological disorders, psychiatric disorders, and cancer therapeutics, is a key driver of the cannabis alcohol market's evolution.

Data Bridge Market Research analyses that the cannabis alcohol market which was valued at USD 32.54 million in 2021 and is expected to reach the value of USD 63.66 million by 2029, at a CAGR of 8.75% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Cannabis Alcohol Market Scope and Segmentation

Market Definition

Cannabis-based alcoholic beverages have been made by combining hemp seeds, cannabis flower, cannabis terpenes, and CBD into alcoholic beverages such as whiskey, gin, absinthe, vodka, wine, and beer. Many alcoholic beverage companies are incorporating THC and CBD into a variety of drinks, including cider, margaritas, and soda. These medications are widely used to treat insomnia, inflammation, chronic pain, depression, anxiety, and hyperemesis, among other things.

Cannabis Alcohol Market Dynamics

Drivers

• Legalisation of marijuana

The increasing legalisation of cannabis for a variety of medical and recreational purposes, particularly across borders, is increasing demand for cannabidiol (CBD) infused beverages. Furthermore, rising consumer awareness of the numerous benefits of cannabidiol (CBD) in treating inflammation, relieving pain, improving sleep quality, and stress management is propelling cannabis alcohol market growth.

• Health benefits associated with cannabis infused products

The rising prevalence of several respiratory ailments caused by cannabis smoking has resulted in a shift in consumer preference for CBD-infused food products, such as cannabis alcohol. Furthermore, the rising prevalence of various neurological and psychiatric disorders is driving the adoption of cannabis alcohol due to their non-psychotropic properties, which eliminate the risk of drug-induced sensations among consumers Furthermore, potential CBD beverage customers are more willing to spend money on legal CBD products, which is positively impacting the cannabis alcohol market growth rate.

Opportunity

• High penetration of health drinks

The growing demand for health as well as alcoholic beverages among users is expected to drive the growth of the cannabis-based alcoholic beverages market during the forecast period. Furthermore, the product's availability in new flavours is expected to fuel the growth of the cannabis-based alcoholic beverages market.

Restraints

• Strict policies

Most cannabis products are not FDA-approved because their strengths and purity can vary between brands and even within the same brand, potentially resulting in less-than-desired positive outcomes. As a result, their use is restricted in a number of countries.

This cannabis alcohol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cannabis alcohol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Post COVID-19 Impact on Cannabis Alcohol Market

COVID-19, like any other market, had a negative impact on the cannabis alcohol market. During the year, however, many cannabis companies began to rely heavily on social media and e-commerce platforms to market to consumers. On March 30, 2020, the Alberta Government declared cannabis retail outlets, producers, manufacturers, distributors, and warehouses to be essential services. Furthermore, during the pandemic, CBD-infused products became an appealing option for people who were spending more time at home, both as a source of entertainment and to alleviate stress and anxiety. As a result, CBD-infused product sales are skyrocketing, propelling the CBD-infused products market forward. Additionally, the legalisation of recreational cannabis in various countries, rising demand for CBD-infused wellness drinks, rising disposable income of consumers, and improving living standards are a few of the factors driving this market's rapid growth during the forecast period.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• Canopy Growth, one of the world's largest cannabis companies, announced in June 2021 that it had completed the acquisition of The Supreme Cannabis Company and had acquired 100 percent of Supreme's issued and outstanding common shares.
• STADA Arzneimittel AG, one of Germany's largest pharmaceutical firms, will enter the medical cannabis space in March 2021 with an agreement with Canadian firm MediPharm Labs for the launch of two flower products, with six more to follow
• TCV Sciences, Inc. announced the release of PLUSCBDTM calm and sleep gummies in May 2021, two flavorful gummies that support healthy stress responses and sleep cycles for people returning to their normal routines.
• Pfizer Inc. and GSK merged their respective consumer healthcare businesses in 2019 to form GSK Consumer Healthcare, a global consumer healthcare joint venture.

Global Cannabis Alcohol Market Scope

The cannabis alcohol market is segmented on the basis of product, source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Cannabidiol Infused Beer
• Cannabidiol Infused Vodka
• Cannabidiol Infused Gin
• Cannabidiol Infused Wine
• Others

Source

• Cannabis CBD Oil
• Cannabis THC Oil

Application

• Recreational use
• Others

Cannabis Alcohol Market Regional Analysis/Insights

The cannabis alcohol market is analysed and market size insights and trends are provided by country, product, source and application as referenced above.

The countries covered in the cannabis alcohol market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North American region, which has experienced significant year-on-year growth, is expected to drive the global cannabis alcohol market. The rising demand for recreational and medicinal marijuana, as well as products for heart health, stamina, and bone health, is a major driver of the cannabis alcohol market's expansion. Additionally, products aimed specifically at children are driving innovation, particularly those addressing immune and gut health, which are expected to gain traction in the coming years. Asia-Pacific market may also see increased demand for vegan/plant-based products in various fruit flavours, which may contribute to the region's market development.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cannabis Alcohol Market Share Analysis

The cannabis alcohol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cannabis alcohol market.

Some of the major players operating in the cannabis alcohol market are:

• The Cronos Group (Canada)
• Tilray (U.S.)
• Marley Natural (U.S.)
• Aurora Cannabis (Canada)
• Cara Therapeutics (U.S.)
• ARUMA LABS HOLDINGS PTY LIMITED (Australia)
• Medcan Australia (Australia)
• Sundial Growers Inc. (Canada)
• Canopy Growth Corporation (Canada)
• The Scotts Company LLC (U.S.)
• Aphria Inc. (Canada)
• VIVO Cannabis Inc. (Canada)
• Cannatrek (Australia)
• SpeedWeed (U.S.)
• GW Pharmaceuticals plc. (U.K.)
• Harborside Health Center (U.S.)
• Steep Hill, Inc. (U.S.)
• CBD Einstein. (U.S.)
• Weedmaps (U.S.).

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