CBD drinks forecast to soar over the next decade
The CBD drinks sector has been estimated to be worth US$46.3 billion by 2032, according to a new beverage industry report.
The report, entitled ‘CBD Beverage Market’ from financial data experts Benzinga, takes a deep dive into the CBD drinks category across alcoholic and non-alcoholic drinks, as well as online routes to market, retail distribution, merchandising, regional popularity as well as including trend spotting and analysis with a forecast for the sector until 2032.
The findings show that the alcohol adjacent is rising rapidly as more individuals are interested in moderation and that the CBD drinks category has a CAGR of 28.7% over the forecast period (2022-2032).
The data set out in the report identifies how the success of the CBD segment is down to “CBD having positive effects when added to beverages which help in reducing anxiety, manage pain, aches, help in relaxing and also assisting with sleep,” said the report.
Additionally, the research findings outline how the prosperity of the CBD drinks category has been bolstered by “the rising prevalence of functional beverages” having had a positive impact on its target market growth. This means that consumers want drinks that do things for them and suit their lifestyle rather than simply quench their thirst.