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Cannabis-based Alcoholic Beverages Market to Reach Valuation of USD 1.1 Billion by 2030 – Changing Regulatory Landscape and Increasing Health & Wellness Trends Drive the Market

In terms of revenue, the Global Cannabis-based Alcoholic Beverages Market is expected to reach USD 1.1 Billion by 2030, growing at a CAGR of 13.3% from 2023 to 2030.

The Cannabis-based Alcoholic Beverages Market has gained considerable attention in recent years due to the increasing acceptance of cannabis and its derivatives for both medical and recreational purposes. This emerging market combines two popular and highly regulated industries, alcohol, and cannabis, providing consumers with a unique and potentially appealing product. Cannabis-based Alcoholic Beverages Market offer a unique blend of psychoactive effects from both cannabis and alcohol, providing consumers with a novel experience. This combination can offer a pleasant intoxication alongside the potential medical benefits associated with cannabis compounds such as CBD and THC.

Furthermore, Cannabis-based Alcoholic Beverages Market can appeal to a larger consumer base by offering various flavors, potency variations, and alcohol content ranges, catering to different preferences. Market leaders have also focused on marketing their products as low-calorie alternatives to traditional alcoholic drinks, targeting health-conscious consumers. In addition, regulations play a crucial role in shaping the dynamics of the Cannabis-based Alcoholic Beverages Market. Companies operating in this market must navigate the complex and often contradictory regulations governing both alcohol and cannabis. The legality of these products varies from country to country and even within different states or provinces.

Key Highlights from the Report

• Based on Product, the Cannabis-infused Beers segment is expected to dominate the Cannabis-based Alcoholic Beverages Market during the forecast period.
• Based on Component, the Tetrahydrocannabinol (THC) segment dominates the Cannabis-based Alcoholic Beverages Market with the maximum market share and will maintain the same during the projection period.
• Based on End Use, the Households application is accounted to have the largest market growth in 2022. 
• Based on region, North America holds the significant market share within the Cannabis-based Alcoholic Beverages Market and will continue to dominate during the forecast period. 

Market Dynamics

The health and wellness industry have seen a surge in popularity in recent years, with consumers becoming more thoughtful about the products they consume. In response to this shift, Cannabis-based Alcoholic Beverages Market are positioning themselves as a healthier alternative to traditional alcoholic beverages. Many cannabis-infused drinks are low in calories, gluten-free, and can contain various natural ingredients, such as fruits and botanicals, appealing to health-conscious consumers who prioritize quality and natural ingredients. For instance, Ablis launched new potency of its CBD beverages and shooters in all drinks with doubling CBD isolates in each beverage. Ablis created CBD drink with all-natural ingredients and high-quality products and made from 100% pure hemp CBD isolate.

Furthermore, advancements in technology have played a significant role in shaping the Cannabis-based Alcoholic Beverages Market. From production processes to product formulations, technology has allowed companies to improve the quality, consistency, and safety of their products. In terms of production, technology has facilitated the development of efficient and scalable methods for infusing cannabis extracts into alcoholic beverages. Some companies have developed proprietary techniques to ensure consistent dosing and flavor profiles, guaranteeing a reliable and enjoyable consumer experience. For instance, Province Brands have focused on creating the world's first beer brewed from cannabis. They developed a technology to use the stalks, stems, and roots of the cannabis plant to produce a non-alcoholic beer-like beverage.

North America dominated the market in 2022. This growth can be attributed to several factors such as changing consumer preferences, increased social acceptance of cannabis, and regulatory changes. In addition, several states in the United States and Canada have legalized recreational cannabis, and public opinion towards the plant has become more favorable. This societal shift has resulted in a growing demand for cannabis-based products, including alcoholic beverages. Consumers are now more open to trying cannabis-infused drinks and incorporating them into their social and recreational activities.

The Global Cannabis-based Alcoholic Beverages Market is segmented as follows

• Product
  • Cannabis-infused Beers
  • Cannabis-infused Infused Vodka
  • Cannabis-Infused Gin
  • Cannabis-infused Wines
  • Other Products
• Component
  • Cannabidiol (CBD)
  • Tetrahydrocannabinol (THC)
• End Use
  • Household
  • Restaurant
  • Hotel
  • Cafe
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

A list of the Key Players of the Global Cannabis-based Alcoholic Beverages Market is

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The Global Cannabis-based Alcoholic Beverages Market Scope can be tabulated below

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