The United States hemp-derived THC beverage market is projected to reach $4.1 billion by 2028 according to a recent market analysis by Euromonitor International. The researchers at Euromonitor International estimated that the market was worth $239 million in 2023.
The hemp-derived THC beverage sector has greatly benefitted from the national 2018 Farm Bill that legalized hemp production across the United States. Adult-use cannabis beverages are commonly sold at licensed cannabis dispensaries, however, hemp-derived THC beverages are sold through a wide variety of retailers, including online retailers.
Euromonitor International is projecting that hemp-derived beverages will experience considerably more growth in the coming years compared to adult-use beverages.
“In 2023, sales of cannabis beverages (excluding hemp-derived intoxicating products) reached USD952 million, making up nearly 3% of the total cannabis market.” Euromonitor International stated.
The global cannabis-infused drinks market was estimated to be worth $400 million in 2022 and is projected to reach $8.7 billion in value by 2032 according to a market analysis by Fact.MR. The market analysis entity is located in Ireland.
“This astounding market growth is because worldwide demand for cannabis infused drinks is estimated to surge at a CAGR of 37.8% through 2032.” Fact.MR stated in a news release.
“The projected share of the European Market on the global platform is 41% in the coming years.” the researchers also stated. The researchers estimated that the U.S. market will grow at a CAGR of 10.1% through the forecast period, and India will experience a CAGR of 8.1%.
Research and Markets also recently released a cannabis drinks market analysis in which it found that “the global market for Cannabis Beverages estimated at US$1.2 Billion in the year 2023, is projected to reach a revised size of US$3.8 Billion by 2030, growing at a CAGR of 15.6% over the analysis period 2023-2030.”
“Non-Alcoholic Cannabis Beverages, one of the segments analyzed in the report, is projected to record 16.1% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the Alcoholic Cannabis Beverages segment is estimated at 14.6% CAGR for the next 8-year period.” Research and Markets stated in a press release.