Increasing Alcohol Consumption to Boost the Hemp Beer Market Growth During the Forecast Period
Increasing alcohol consumption and rising awareness of
cannabis-infused drinks are driving the global hemp beer market.
According to
TechSci Research report, “Hemp Beer Market – Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2018-2028F, the global hemp beer market
is propelling the growth of the market owing to the rising preference for a
variety of other alcoholic drinks among youngsters. Moreover, the market is
driven by a surge in preference for alcohol consumption increase in Cannabidiol
(CBD) infused drinks, and the legalization of hemp production in countries like
the US, India, and Thailand.
Hemp refers to a collection
of cannabis plant varieties raised especially for manufacturing products like clothing,
biodegradable plastics, paints, and other industrial items, which all contain
hemp. It is one of the plants with the fastest rate of growth, and with such
instant growth, the production of hemp products is convenient and efficient for
all those industries which are engaged with this product manufacturing.
Hemp beer contains two things
Cannabidiol (CBD) and Tetrahydrocannabinol (THC). Cannabidiol is known by the
abbreviation CBD. It is the second most prevalent active ingredient in
marijuana (marijuana). The hemp plant, a relative of the marijuana plant and a
key ingredient in therapeutic marijuana, is where CBD is directly derived.
Although CBD is a part of marijuana, it does not have any psychedelic effects
on the human mind. A World Health Organization assessment states that CBD
"displays no effects in people suggestive of any misuse or dependency
potential." Pure CBD and its derivatives have not been related to any
public health problems yet.
CBD-infused beverages are
made by injecting CBD into water. The result is a canned, typically fizzy
beverage with flavors similar to those of seltzer with added flavoring. There
are several "CBD-only" beverages available, but it can be challenging
to find one that contains no THC at all. This is because it's challenging to
extract cannabis plants' pure CBD without also getting some THC. As
cannabis-infused products, like medicinal and recreational marijuana, become
legalized throughout the United States and the rest of the world, CBD beverages
are growing in popularity.
Over the forecast period,
North America is anticipated to be the largest and fastest-growing market. The legalization
of marijuana for both medical and recreational uses has significantly fueled
the expansion. A total of 33 states, the District of Columbia, Guam, Puerto
Rico, and the U.S. Virgin Islands have approved publicly accessible medical
cannabis programs, according to the National Conference of State Legislatures,
which has led to the expanded launch of many cannabis drinks. Additionally, the
use of low THC and high CBD products for medical purposes is legal in 13 states
in the United States, which has increased the demand for CBD-infused cannabis
beverages in the area.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Global Hemp Beer Market"
The Global Hemp Beer Market
is segmented based on the type, component, distribution channel, and region. The
type is segmented into alcoholic, non-alcoholic. On the basis of component, the
market is segmented into cannabidiol (CBD), Tetrahydrocannabinol (THC). And the
distribution channel is segmented into online and offline.
Hemp beer is available in two
types in the market, alcoholic and non-alcoholic. Alcoholic beers generally
contain more CBD and less THC. But the non-alcoholic hemp beers are gaining
more popularity is because they come in various flavors and are easily available
in the market.
Key market players operating in
the Global Hemp Beer Market include:
- Canopy Growth Corporation
- Heineken N.V.
- Sprig Products LLC
- Ceria, Inc
- Two Roots Brewing Co
- Flying Dog Brewery, LLLP
- BevCanna Enterprises Inc. (Keef
Brands)
- Coalition Brewing Co Ltd.
- dupetit Natural Products GmbH
- Anheuser-Busch Companies LLC
Various domestic and
international companies are investing in their R&D and launching new
products in the global hemp beer market to cater to the growing demand. For
instance, recently in 2022, Jones Soda Co. announced the addition of a new 100
mg THC flavor to its Mary Jones line of cannabis-infused beverages. As well as
in the same year, Boston-based TeaPot, a new line of iced teas infused with
cannabis, has been introduced by The Boston Beer Co. Inc., the company behind
brands like Samuel Adams, Truly Hard Seltzer, and Twisted Tea. The company's
initial infused beverage product, called TeaPot, will be sold in a few Canadian
regions.
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“As consumers switch from
soft drinks to wellness drinks, the market of hemp beer is expected to
rise. The primary driver of the market's expansion is drinks' low sugar
content. Additionally, users choose these drinks as an alternative to smoking
marijuana and eating chocolates, cookies, brownies, and other confectioneries
like gummies and candies that have been infused with marijuana. It is
anticipated that off-trade sales channels like hotels, cafes, restaurants,
clubs, and lounges will increase customer interest in the product.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Hemp Beer Market – Global Industry Size, Share, Trends,
Competition Forecast and Opportunities, 2018-2028F, Segmented By Type
(Alcoholic and Non-Alcoholic), By Component (Cannabidiol (CBD),
Tetrahydrocannabinol (THC)), By Distribution Channel (Online and Offline), By
Region”, has evaluated the future growth potential of Global
Hemp Beer Market
and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the hemp beer market globally.
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