The use of cannabis started gaining traction across the globe decades ago, owing to its benefits across medical, recreational, industrial, and religious fields. As the cannabis industry continues to grow, key players face an uncertain operating landscape concerning varied regulations related to the legalization of cannabis across the globe.
Cannabidiol (CBD) is an active ingredient of cannabis but is non-psychoactive in nature. It offers many health benefits; thus, it has gained popularity among consumers as well as manufacturers over the years. Several countries have implemented laws concerning the use, sale, and possession of cannabis with definite THC and CBD content for the safety of human use. The legality of cannabis for different applications varies across countries in terms of its possession, distribution, cultivation, production of the end product, and medical conditions. These policies are usually regulated in most countries by their regulatory bodies but may differ among states within the same country.
Read Report Overview: Global CBD-Infused Beverages Market
The increasing legalization of cannabis and its increasing adoption across the globe are the factors driving the demand for CBD-infused beverages. Moreover, the CBD-infused beverages market is witnessing several upcoming trends and opportunities, further propelling growth in the industry. The initiation of research and development activities for the production of healthy CBD products is expected to drive the market during the forecast period 2019-2025.
Extensive Research Demonstrating Massive Potential of CBD for Medical Benefits
Research concerning cannabis and its industrial derivative, hemp, is continuously evolving. Research activities have demonstrated the high potential of CBD for numerous medical applications ranging from pain management to curing headache and muscle spasms. CBD is also proven to be effective for the treatment of arthritis, cerebral palsy, and several other autoimmune and neurodegenerative diseases. Multiple research organizations, universities, and institutes such as National Institutes of Health, University of Strathclyde, and the University of Queensland, among others, of North America, Australia, China, and Europe are also conducting research studies to evaluate the antifungal, antibiotic, and anti-microbial properties of CBD.
North America CBD-Infused Beverages Market
Owing to the legalization of cannabis in both Canada and the U.S., North America demonstrates the highest potential among all the countries for the growth of the Global CBD-infused beverages market. North America currently holds more than 90% of the global cannabis market, with the U.S. alone covering more than 85% of the total market in North America. The legalization of medical and recreational cannabis in significant states of the U.S. and Canada is considered the prime factor for the growth of North America’s CBD-infused beverages market.
Competitive Landscape
The strategies followed by various prominent companies of the global CBD-infused beverages market to sustain the competition and expand their market share vary from product launches to collaborations and partnerships. Among the different key developments, synergistic strategies (agreements, collaborations, and partnerships) have been the most preferred strategies for the past years (April 2017-April 2020). The global CBD-infused beverages market witnessed approximately 60 synergistic developments. The medium and small-medium enterprises are also venturing into the market and sustaining the competition through mergers and acquisitions as well as development and launch of new products. The following figure provides the share of different key developments and strategies for the period of April 2017-April 2020
Request for a Sample: https://bisresearch.com/requestsample?id=933&type=download
The result of the emerging strategies and developments in the form of partnerships, collaboration, and joint ventures are already leading to visible market growth. Moreover, the growing demand for CBD-infused beverages is further expected to increase the involvement of companies across different segments of the value chain.