Legalizing of recreational or medical cannabis, increased demand for wellness drinks, and vigorous technological and information exchange for legal marijuana is boosting the market for cannabis-based beverages.
Market Size – USD 1.57 Billion in 2018, Market Growth - CAGR of 15.4%, Market Trends –Increased use of cannabis for medicinal purpose.
NEW YORK, May 27, 2019 (GLOBE NEWSWIRE) -- The Global Cannabis based beverages Market is forecasted to reach USD 5.04 Billion by 2026, according to a new report by Reports and Data.
The market expansion of cannabis-based beverages has occurred due to a combination of various factors. One of the fundamental element in this context has been the initiative of legalizing the use of cannabis for medical usage in 30 countries. Apart from that, certain nations are taking action of legalizing the use of marijuana for recreational purpose. Such an initiative of legalizing the use of cannabis is acting as a significant driver for this market.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1434
Apart from the mentioned driving factor, there has been an increase in use of cannabis in treating various health conditions like neurological disorders, psychiatric disorders, and cancer, and pain control. It is also observable that, consumers are having increased demand for wellness drinks. Such diverse applicability of cannabis results in having a significant positive impact on the demand for cannabis-based beverages, making a further contribution to its market growth. Major investors and key players of this industry are considering this area to be a lucrative market. As a result of this, they are increasing their investments in this market, which is also contributing to its growth.
In regards to region, North America is seen to be dominating the market because of its quick acceptance of this form of beverage, increased investment in healthcare and wellness sector and presence of consumers in this region who wants to experience smoke-free cannabis. A large amount of investment in R&D and mergers are also promoting the growth of this market in this region.
Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cannabis-based-beverages-market
Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global cannabis-based beverages Market based on Product type, End-user, Distribution channel, Application, Component, and Region:
Product Type Outlook (Revenue, USD Billion; 2016-2026)
End-user Outlook (Revenue, USD Billion; 2016-2026)
Distribution channel Outlook (Revenue, USD Billion; 2016-2026)
Application Outlook (Revenue, USD Billion; 2016-2026)
Component Outlook (Revenue, USD Billion; 2016-2026)
Regional Outlook (Revenue, USD Million; 2016-2026)
Browse more reports of Pharmaceutical category at: https://www.reportsanddata.com/report/category/pharma-and-healthcare
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-800-819-3052