Cannabis beverages are gaining increasing market share as their accessible, discrete, and regulated format makes them a popular choice for newer marijuana consumers as more recreational markets open up.
The global market for cannabis beverages was estimated to be valued at US$400 million in 2022 and to grow at a compound annual growth rate of 37.8% to US$8.7 billion by 2032, per an analysis by Fact.MR.
According to a recently published report by Prohibition Partners, cannabis beverages represent potentially the most significant next step for the cannabis sector.
Report author Chris Murray highlighted that the central challenge for the cannabis industry globally is that current consumers prefer to experience the product by smoking it.
“However, this choice of consumption is much less approachable for new consumers,” Murray said. “With most of the world’s health systems beating a drum about the harms of inhaled…
