As the edibles market evolves, we are starting to see more and more cannabis-infused beverages. These beverages include those infused with THC and CBD. In general, since legalization, cannabis is expected to revolutionize markets worldwide and the beverage industry is no exception. Current sales of both legal and illegal cannabis are estimated at $150 billion. Within the next 5 years, legal cannabis alone is predicted to surpass that number.
About The Cannabis Beverage Industry
When it comes to the beverage industry, market research firms predict that cannabis is poised to take the lead. They even suggest that many consumers are switching or are planning to switch from alcohol to cannabis since its legalization. Market research has also determined that edibles and cannabis-infused beverages will be responsible for the majority of the growth of the cannabis industry. This is because the average consumer is looking for “casual high” similar to what they would experience when drinking alcohol.
Since the majority of new cannabis consumers are interested in ingesting cannabis in low doses, or over a period of time, versus smoking, the beverage industry is in a good position to meet this demand. There is also the added benefit of fewer side effects than alcohol. With that said, products created with hemp that also contain alcohol are becoming increasingly popular. Craft beer and vodka producers are getting in on the action as are larger players such as Heineken.
For those looking for non-alcoholic beverages, there are a variety of products available. Cannabis-infused beer, for example, typically comes in doses of either 10 or 5 mg of THC or 5 mg of CBD. Producers are looking to provide an instant effect as well as a self-regulating product that consumers can control. Other products becoming available are THC and CBD distillates – powder-like products – that can be dissolved into any food or beverage. In this case, the possibilities are truly endless.
What is certain is that the legalization of cannabis will affect the beverage market. Further, as consumers become more knowledgeable and legalization becomes more wide-spread, the industry will only continue to grow. Whether cannabis-infused beverages will be more popular than cannabis and alcohol blends is still debatable, cannabis will have a piece of the market either way.