The CBD beverage industry is expected to be a huge moneymaker in just a few short years
Beverages infused with CBD (cannabidiol) are just beginning to come onto the mainstream markets in the US and reception thus far has been very encouraging. So much so that the market is expected to make a jump from about $89 million to over $1.4 billion in just the next three years, according to Zenith Capital. The firm is also optimistic that, by the year 2024, the CBD-infused drink market could soar to over $4.4 billion.
Grand View Research is already registering the exceptionally fast growth of the infused drinks market and predicts a huge surge between now and 2025. According to a recent survey, almost one in four adults have expressed an interest in purchasing CBD-infused drinks, as well as cannabis0infused drinks in the North American market during the next 12 months.
State legislatures, viewing potential tax revenues, are coming on board with the CBD drinks first and graduating to cannabis-based drinks in the near future, depending on state and local laws. With how quickly cannabis laws are changing at the state and national level, it’s possible that there could be even more growth sooner than expected.
Grand View Research reports that, “The demand for THC infused cannabis beverages is majorly driven by rising product demand from adult consumers for recreational purposes. Rising demand for the therapeutic effects of the component, along with the euphoria it provides, is expected to bode well for the growth of the segment in the forthcoming years.”