Over the last couple of years, the beverage industry has seen significant changes in what it serves and to whom it is catering. The most popular we have seen as of recent is the boom of hard seltzers. Nevertheless, today a unique budding movement has the potential to capture a vast market share in the next few years: cannabis-infused beverages.
Future of Cannabis-Infused Beverages
Cannabis-infused beverages are expected to grow in popularity in the coming years. According to Grand View Research, the cannabis-infused beverage market will be worth $2.8 billion annually by 2025. As society continues to favor the legalization of marijuana, the market share devoted to cannabis-infused beverages will likely continue to grow. Even though some states have legalized medical and recreational marijuana, it remains illegal on a federal level. Marijuana remains a controlled substance under federal law, prohibiting its addition to alcoholic beverages.
What Is a Cannabis-infused Beverage?
Cannabis-infused beverages generally contain CBD, legal in many U.S. states, and THC, which is still illegal in some states and under federal law. The cannabis industry has grown as technology improvements have made cannabis-infused beverages more feasible. Emulsifier improvements have made cannabis-infused drinks better tasting and more consistent in dosage. Cannabis-infused drinks are available in various varieties that mimic existing alcoholic beverage options. Different wines, seltzers, beers, spirits, and pre-mixed cocktails are available.
Legalization
The success of cannabis-infused beverages rests on the decriminalization of cannabis. The projections shared today about the growth in popularity of cannabis-infused drinks are based on the current legal status of marijuana. We will likely see more progress in marijuana legalization in the coming years.
Wellness Trend
Alcohol companies should know that the cannabis-infused beverage industry is leaning over into the wellness and health industry with its products. Industry leaders realize that they can make a profit off of a culture that has many consumers evaluating their intake of sugar, alcohol, and sodium. Because wellness drinks are alcohol-free and often low in calories, marketing teams can market cannabis beverages as a health solution for issues such as anxiety and insomnia.
Alcohol producers should note this latest beverage-industry trend and keep an eye out for cannabis-infused beverage news in the upcoming years.