CBD Beverages Market Report 2024 (Global Edition)

Global CBD Beverages Market Report 2024 Market Size Split by CBD Type (Marijuana-derived, Hemp-derived, Others), by End Users (Millennial, Genz, Others), by Grade (Pharmaceutical Grade, Food Grade), b...

CBD Beverages Market Report Description

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Competitive Landscape of the CBD Beverages Market

The competitive landscape of the CBD beverages market features key players such as Coca-Cola, PepsiCo, and Constellation Brands alongside emerging participants like New Age Beverages, CBD Living, and Phivida Holdings. This dynamic market showcases the entry of major beverage corporations and specialized CBD brands, contributing to a diverse and competitive industry.

CBD Beverages Industry News 

In March 2023, Canopy Growth Corporation, a leading global cannabis company, revealed the debut of Deep Space, Canada's first cannabis-infused beverage with natural caffeine. Additionally, in preparation for the upcoming spring season, Canopy is introducing four new flavours under its Tweed brand. 

(Source:https://finance.yahoo.com/news/spring-forward-canopy-growths-portfolio-113000532.html)

In November 2022, Ablis CBD revealed a doubling in potency for all their CBD beverages and shooters, marking them as the inaugural craft CBD drinks tailored for athletes. The increased CBD isolate content enhances features while preserving their distinctive flavors.

(Source:https://www.bevnet.com/news/2022/ablis-launches-higher-potency-for-cbd-beverages/)

Top Companies Market Share in CBD Beverages Industry: (In no particular order of Rank)

• Coca-Cola Company
• PepsiCo Inc.
• Constellation Brands
• Heineken N.V.
• New Age Beverages Corporation
• CBD Living
• Phivida Holdings Inc.
• Sprig
• Joy Organics
• Canopy Growth Corporation
• Tilray Inc.
• Aurora Cannabis Inc.
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of CBD Beverages     

Which Region Dominates the CBD Beverages Market in 2024?

According to Cognitive Market Research, The CBD beverage market in 2024 is dominated by North America, propelled by a mature market and growing consumer acceptance. With well-established regulatory frameworks, the region showcases a strong foundation for CBD-infused beverages, making it a key player in shaping industry dynamics.

Which Region is Expanding at the Fastest CAGR?

Meanwhile, Asia Pacific leads in the fastest Compound Annual Growth Rate (CAGR) for the CBD beverage market. The region experiences rapid urbanization and a burgeoning awareness of CBD's potential health benefits, driving a surge in demand. Shifting consumer preferences contribute to the dynamic growth, positioning Asia Pacific as a crucial catalyst in the evolving landscape of CBD-infused beverages.

The current report Scope analyzes CBD Beverages Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

Middle East and Africa CBD Beverages Market

According to Cognitive Market Research, the global CBD Beverages Market size was estimated at USD 4518.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 90.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.9% from 2024 to 2031. The surge in demand is fueled by a combination of factors, including the increasing acceptance of CBD, shifting perspectives on wellness, and economic growth. This rise is propelled by heightened health consciousness, a wide selection of product choices, and a rising consumer demand for wellness solutions. In the Middle East & Africa, pharmaceutical-grade CBD products are gaining traction, indicative of a growing emphasis on health and well-being in the region. These products, known for their superior quality, resonate with consumers seeking high-grade CBD formulations. The preference for pharmaceutical-grade CBD underscores a shift towards prioritizing efficacy and purity in wellness products, reflecting evolving consumer preferences and a burgeoning market for premium CBD offerings. As awareness continues to grow and economic prosperity facilitates greater access to wellness products, pharmaceutical-grade CBD is poised to maintain its popularity and contribute significantly to meeting the health and wellness needs of consumers in the Middle East & Africa.

• According to Cognitive Market Research, GCC Countries collectively record revenue of USD 38.68 million with a notable CAGR of 24.7%, reflecting the group's significance in the evolving CBD market. Growing acceptance, changing attitudes towards wellness, and economic prosperity contribute to the popularity of CBD beverages in GCC Countries.
• South Africa establishes its role with a revenue of USD 14.28 million and a noteworthy CAGR of 24.9% in the CBD market. Increasing health awareness, diverse product offerings, and a rising demand for wellness-oriented beverages drive CBD beverage popularity in South Africa.
• The South Africa CBD Beverage Market is projected to witness growth at a CAGR of 24.9% during the forecast period, with a market size of USD 14.28 million in 2024.
• The Turkey CBD Beverage Market is projected to witness growth at a CAGR of 23.4% during the forecast period, with a market size of USD 7.77 million in 2024.
• The Nigeria CBD Beverage Market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 9.49 million in 2024.
• The Rest of Middle East & Africa CBD Beverage Market is projected to witness growth at a CAGR of 22.9% during the forecast period, with a market size of USD 10.66 million in 2024.

North America CBD Beverages Market

According to Cognitive Market Research, the global CBD Beverages Market size was estimated at USD 4518.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1807.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 22.4% from 2024 to 2031. The heightened demand for CBD products stems from various factors including an increased awareness of wellness, evolving regulatory landscapes, and the maturation of the market. Additionally, the surge can be attributed to the growing acceptance of CBD, favorable regulatory environments, and rising consumer interest. In North America, hemp-derived CBD products hold sway due to their legal status, widespread accessibility, and preference for non-psychoactive alternatives, making them indispensable ingredients in a multitude of wellness and beverage formulations. These products have become integral to meeting consumer demands for wellness-focused solutions, further driving their prominence in the market. The convergence of these factors underscores the significant role of CBD in catering to evolving consumer preferences and addressing wellness needs in a regulated and compliant manner. As the market continues to mature and regulations evolve, CBD products are poised to maintain their stronghold, offering consumers a diverse array of options that align with their wellness goals and lifestyle choices.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the CBD beverage market with a market size of USD 1425.94 million in 2024 and is projected to grow at a CAGR of 22.2% during the forecast period. The demand is amplified by the increased wellness consciousness, evolving regulations, and a mature market. 
• The Canada CBD beverage market had a market share of USD 216.87 million in 2024 and is projected to grow at a CAGR of 23.2% during the forecast period. Growing acceptance, favourable regulatory environment, and consumer demand for diverse CBD beverages contribute
• The Mexico CBD beverage market is projected to witness growth at a CAGR of 22.9% during the forecast period with a market size of USD 164.46 million in 2024.

Europe CBD Beverages Market

According to Cognitive Market Research, Europe held a market value of USD 4518.2 million in 2024 and projected to expand at a CAGR of 22.7% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1355.46 million. The surge in demand can be attributed to several factors, including heightened consumer awareness, robust wellness trends, and an increasingly progressive regulatory environment. This rise is further fueled by growing health consciousness, expanding acceptance within the market, and the dynamic landscape surrounding CBD products. Particularly in Europe, hemp-derived CBD products have gained popularity due to their legal acceptance, widespread availability, and consumer preference for non-psychoactive alternatives. These factors have solidified their position as essential elements in both wellness products and beverage formulations. Their legal status, coupled with their accessibility and alignment with consumer preferences, has propelled hemp-derived CBD products to the forefront of the market in Europe. This indicates a significant shift in consumer behavior towards prioritizing wellness and embracing natural alternatives in their lifestyle choices. As the market continues to evolve, driven by increasing health awareness and regulatory advancements, hemp-derived CBD products are poised to maintain their popularity and play a central role in meeting consumer demands for holistic wellness solutions.

• According to Cognitive Market Research, the Germany CBD Beverage Market size was valued at USD 268.38 million in 2024 and is projected to grow at a CAGR of 22.9%. during the forecast period. In Germany, CBD Beverage sales surge due to the High consumer awareness, strong wellness trends, and a progressive regulatory framework. 
• The United Kingdom CBD Beverage Market had a market share of USD 227.72 million in 2024 and is projected to grow at a CAGR of 23.5% during the forecast period. In the UK, CBD Beverage sales witness an upswing due to Rising health awareness, expanding market acceptance, and a dynamic CBD landscape. 
• The France CBD Beverage Market is projected to witness growth at a CAGR of 21.9% during the forecast period, with a market size of USD 124.70 million in 2024.
• The Italy CBD Beverage Market is projected to witness growth at a CAGR of 22.1% during the forecast period, with a market size of USD 116.57 million in 2024.
• The Russia CBD Beverage Market is projected to witness growth at a CAGR of 21.7% during the forecast period, with a market size of USD 210.10 million in 2024.
• The Spain CBD Beverage Market is projected to witness growth at a CAGR of 21.8% during the forecast period, with a market size of USD 111.15 million in 2024.
• The Luxembourg CBD Beverage Market is projected to witness growth at a CAGR of 22.8% during the forecast period, with a market size of USD 42.02 million in 2024.
• The Portugal CBD Beverage Market is projected to witness growth at a CAGR of 22.5% during the forecast period, with a market size of USD 28.46 million in 2024.
• The Greece CBD Beverage Market is projected to witness growth at a CAGR of 23.0% during the forecast period, with a market size of USD 16.27 million in 2024.
• The Rest of Europe CBD Beverage Market is projected to witness growth at a CAGR of 21.4% during the forecast period, with a market size of USD 210.10 million in 2024.

Asia Pacific CBD Beverages Market

According to Cognitive Market Research, the global CBD Beverages Market size was estimated at USD 4518.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1039.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 26.2% from 2024 to 2031. The surge can be attributed to rapid urbanization, heightened consumer interest, and an emerging trend. This increase in demand is fueled by growing health awareness, cultural acceptance, and the expansion of the market. Hemp-derived CBD products take precedence in the Asia-Pacific region, primarily due to their legal status, widespread accessibility, and non-psychoactive characteristics. These factors render them indispensable in various wellness and beverage formulations throughout the region. The prevalence of hemp-derived CBD products underscores a significant shift towards embracing natural alternatives and holistic well-being. As consumer preferences continue to evolve and regulatory frameworks adapt, hemp-derived CBD products are positioned to maintain their dominance and cater to the growing demand for wellness-oriented solutions in the dynamic Asia-Pacific market. 

• According to Cognitive Market Research, the China CBD beverage market size was valued at USD 467.63 million in 2024 and is projected to grow at a CAGR of 25.7% during the forecast period. Rapid urbanization, increasing consumer interest, and a growing trend towards wellness boost the popularity of CBD beverages. 
• India showcases its potential with a revenue of USD 124.70 million and a striking CAGR of 28.0%, marking its significant growth in the CBD market. Growing health consciousness, cultural acceptance, and a burgeoning market contribute to the rising popularity of CBD beverages. 
• The Japan CBD Beverage Market is projected to witness growth at a CAGR of 24.7% during the forecast period, with a market size of USD 143.41 million in 2024.
• The South Korea CBD Beverage Market is projected to witness growth at a CAGR of 25.3% during the forecast period, with a market size of USD 103.92 million in 2024.
• The Australia CBD Beverage Market is projected to witness growth at a CAGR of 25.9% during the forecast period, with a market size of USD 54.04 million in 2024.
• The South East Asia CBD Beverage Market is projected to witness growth at a CAGR of 27.2% during the forecast period, with a market size of USD 71.70 million in 2024.
• The Rest of Asia Pacific CBD Beverage Market is projected to witness growth at a CAGR of 26.0% during the forecast period, with a market size of USD 73.78 million in 2024.

South America CBD Beverages Market

According to Cognitive Market Research, the global CBD Beverages Market size was estimated at USD 14,621.20 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 225.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.6% from 2024 to 2031. The increase is driven by the growing acceptance within the market, a wide array of product options, and a population increasingly focused on wellness. Demand is fueled by heightened awareness of wellness benefits, evolving consumer tastes, and greater product availability. In Latin America, food-grade CBD products hold sway due to their adaptability, widespread usage, and compatibility with diverse consumer needs, solidifying their importance in the CBD market. These products are favored for their ability to cater to various applications, reflecting a strong alignment with consumer preferences in the region. As the market continues to evolve and consumers seek out wellness-focused solutions, food-grade CBD products are expected to maintain their significance and play a pivotal role in meeting the diverse demands of consumers across Latin America.

• According to Cognitive Market Research, Brazil emerges as a key player in the CBD market with a revenue of USD 96.69 million and a steady CAGR of 24.2%. Expanding market acceptance, diverse product offerings, and a population keen on wellness fuel the popularity of CBD beverages. 
• Argentina contributes significantly with a revenue of USD 37.95 million and a commendable CAGR of 24.5%, marking its presence in the evolving CBD market. Rising wellness awareness, evolving consumer preferences, and increasing availability drive the popularity of CBD beverages. 
• The Colombia CBD Beverage Market is projected to witness growth at a CAGR of 23.4% during the forecast period, with a market size of USD 20.11 million in 2024.
• The Peru CBD Beverage Market is projected to witness growth at a CAGR of 23.8% during the forecast period, with a market size of USD 18.52 million in 2024.
• The Chile CBD Beverage Market is projected to witness growth at a CAGR of 23.9% during the forecast period, with a market size of USD 16.27 million in 2024.
• The Rest of Latin America CBD Beverage Market is projected to witness growth at a CAGR of 22.7% during the forecast period, with a market size of USD 36.37 million in 2024.

CBD Beverages Market Analysis

CBD Beverages Type Segment Analysis

According to Cognitive Market Research, Hemp-derived CBD beverages currently hold the dominant position in the market, benefitting from widespread acceptance and legal favorability. Leveraging the health and wellness trend, these products resonate with consumers seeking the potential benefits of CBD without the psychoactive effects associated with marijuana-derived counterparts.

On the flip side, the fastest-growing category is marijuana-derived CBD beverages. As regulations evolve, the acceptance of marijuana for both medical and recreational use is propelling this segment's rapid expansion. With changing perceptions and increasing legalization, consumers are embracing the potential therapeutic qualities of marijuana-derived CBD beverages, driving significant market growth.

• Marijuana-derived
• Hemp-derived
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of CBD Beverages Industry. Request a Free Sample PDF!

CBD Beverages End Users Segment Analysis

According to Cognitive Market Research, Millennials have been a key demographic for the CBD industry, including CBD beverages. This generation has shown a strong interest in wellness and alternative health products, making them a significant consumer group for CBD-infused beverages.

While Millennials have been a dominant force, Gen Z is often considered the fastest-growing category in the CBD market. As the youngest consumer group, Gen Z is increasingly becoming a target for CBD beverage manufacturers. This generation is known for its openness to new experiences, interest in natural products, and focus on health and sustainability.

• Millennial
• Genz
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

CBD Beverages Grade Segment Analysis

According to Cognitive Market Research, the CBD Beverages Market is primarily segmented into Pharmaceutical Grade and Food Grade categories. Among these, the dominant category is the Food Grade segment. Food Grade CBD beverages, including infused waters, teas, and functional beverages, have gained widespread consumer acceptance due to their accessibility, diverse flavor profiles, and perceived wellness benefits. This segment is driven by increasing consumer interest in incorporating CBD into their daily routines for relaxation and general well-being.

Simultaneously, the fastest-growing category is the Pharmaceutical Grade segment. With the rising recognition of CBD for potential therapeutic applications, pharmaceutical-grade CBD beverages are experiencing rapid growth. This category caters to consumers seeking more targeted health solutions, contributing to its accelerated expansion within the CBD Beverages Market.

• Pharmaceutical Grade
• Food Grade

CBD Beverages Distribution Segment Analysis

In the CBD Beverages market, storefront dispensaries currently stand out as the dominant category. These specialized establishments offer a curated selection of CBD-infused beverages, attracting consumers seeking a diverse range of options and expert guidance. Storefront dispensaries leverage their expertise to create a unique and immersive shopping experience, establishing a strong foothold in the market.

Concurrently, convenience stores emerge as the fastest-growing category in the CBD Beverages market. The convenience store landscape, known for its accessibility and wide consumer reach, is swiftly adapting to the growing demand for CBD-infused products. With a focus on convenience and quick access, these stores are effectively tapping into the mainstream market, driving notable growth in the CBD Beverages segment.

• Storefront dispensaries
• Convenience store
• Others

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

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I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

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