The latest market report published by Credence Research, Inc. “Global CBD Infused Coffee Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global CBD infused coffee Market generated revenue of around USD 341.9 million in 2022 and is anticipated to grow a CAGR of over 27.8% during the forecast period from 2023 to 2030 to reach around USD 1903.7 billion in 2030.
Cannabis consumers are switching from smoking flowers in pipes, joints, and bongs to infused foods and concentrates, which offer many options. By trying new ingredients, the beverage business is growing. Consumers in industrialized countries like North America and Europe desire “all-natural,” “chemical-free,” and “recognizable and herbal compositions,” transforming the category. Due to the company’s growth, off-trade sales channels, including pubs, clubs, and lounges, are expected to sell more cannabis-infused drinks. The market is changing due to the rising demand for drinkables loaded with cannabidiol, which gives users a “euphoric high” (CBD). Health-promoting cannabis-extracted snacks have increased sales.
The global CBD-infused coffee market is bifurcated into nature, source, distribution channel, and geography. Based on nature, the market is categorized into organic and conventional. On the basis of source, the global market is segmented into marijuana and hemp. Based on the distribution channel, the market can be split into offline and online. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2022, North America dominated the global CBD-infused coffee market and accounted for a major market revenue share in terms of value. Many countries in North America, including the United States, have recognized cannabidiol’s benefits. Recreational cannabis usage is now legal in eleven states: Alaska, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, and Washington. As cannabis becomes more widely accepted in the United States and Canada, so does the demand for and consumption of alcoholic and non-alcoholic beverages infused with the cannabidiol (CBD).
CBD Infused Coffee Market Drivers are a set of factors that have led to the phenomenal growth of CBD coffee products in recent years. One major driver is the increasing awareness among consumers regarding the health benefits associated with CBD. With more people becoming conscious about their overall well-being, they are looking for alternatives to traditional coffee products and searching for natural remedies that can help alleviate stress, anxiety and related disorders.
The growth can be attributed to several factors, including:
Increasing popularity of CBD products: CBD products, including CBD-infused coffee, are becoming increasingly popular among consumers. CBD is believed to have a variety of health benefits, including reducing anxiety, improving sleep, and alleviating pain. As consumers become more aware of these benefits, the demand for CBD-infused coffee is expected to grow.
Growing interest in specialty coffee: The specialty coffee market has been growing steadily in recent years, with consumers showing a growing interest in high-quality, premium coffee. CBD-infused coffee offers a unique twist on traditional specialty coffee, which is driving its popularity.
Changing legal landscape: The legalization of CBD products in many countries, including the United States, has opened up new opportunities for the CBD-infused coffee market. As regulations surrounding the production and sale of CBD-infused products become clearer, the market is expected to grow even further.
Increased availability of CBD: The availability of CBD has increased significantly in recent years, with more and more farmers growing hemp and cannabis plants specifically for CBD production. This has made it easier and more cost-effective to produce CBD-infused coffee, which is driving the growth of the market.
Health and wellness trend: The health and wellness trend is driving the growth of the CBD-infused coffee market. Consumers are increasingly looking for products that offer both health benefits and enjoyment, and CBD-infused coffee is a perfect example of this.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global CBD-infused coffee market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global CBD-infused coffee market segmentation based on nature, source, and distribution channel.
- Major countries in each region with their import/export statistics
- The global CBD-infused coffee market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
Browse Full Report: https://www.credenceresearch.com/report/cbd-infused-coffee-market
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