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CBD Beverage Market is estimated to be US$ 46.3 billion by 2032 with a CAGR of 28.7% over the forecast period (2022-2032) – By PMI

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Covina , Jan. 09, 2023 (GLOBE NEWSWIRE) — CBD is the non-psychoactive compound which is found within hemp plant. CBD is natural product and tested to highest standard. A natural product benefits our body and mind with various ways. Commercial CBD products are crude extracts from whole hemp plants which includes, stems & flowers. To market CBD products as supplement within framework of food regulations is the most common approach of CBD sellers. Most prevalent CBD food supplement products are CBD oils in liquid form and hemp extract which contains capsule. Food products derived from hemp extracts are cannabis resin, CBD chewing gum, wax, pollen products also called as ‘CBD flowers’ are sold as plant material for preparing tea-like infusion and herbal product for smoking. CBD products of are also sold in product categories like waxes, cosmetics, air-fresheners, veterinary supplements, room fragrances and flavorings. The alcohol adjacent is rising rapidly as more individual are interested in moderation and avoiding effects of alcohol. Alcohol adjacent product includes, no alcohol bitters, no-alcohol malt beverages, and no alcohol wine replacement. CBD segment holds largest volume share of alcohol adjacent market in US. Many beverages has come to the market with alcohol free CBD sterilizers with various flavors and CBD levels. CBD beverages are manufactured in various ways. CBD has positive effects when added to beverages which help in reducing anxiety, manage pain, aches, help in relaxing and also assist with sleep. CBD beverages helps to get better sleep at night. CBD beverages help to feel more relax. CBD beverages help in reducing effects of hangover. Non-alcoholic CBD Beer allows an individual to enjoy refreshing & relaxing taste with cut down of alcohol consumption. Flavored CBD drinks are infused with dash of CBD to calm body and mind. Flavored CBD drinks are made with lemon &basil, peach & ginger, mint & elderflower which makes the pack with tasty punch. However, rising prevalence of functional beverages has given positive impact on target market growth.

The report “CBD Beverage Market, By Type (Alcoholic and Non-alcoholic), By Grade (Pharmaceutical Grade and Food Grade), By Distribution Channel (Online Stores, Mass Merchandisers, Convenience Stores, Storefront Dispensaries, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2032”

Key Highlights:

  • In September 2022, NuLeaf Naturals has launched new CBD Gummies product which comes in two varieties with Full Spectrum CBD that includes 30 mg of CBD & comes in lemon, blueberry, orange and strawberry gummies and 3:1 Full Spectrum CBD:CBN ratio includes, 40 mg CBD & comes in goji berry and mixed berry. It is designed as natural sleep remedy. Newly launched CBD gummies are made from plant based ingredients and added to NuLeaf’s portfolio of CBD and CBN oils. Newly launched CBD gummies help in reducing inflammation, pain & support sleep.
  • In October 2021, Karma Beverages has launched CBD water which is the first beverage to launch under Karma wellness and Probiotic Waters beverage portfolio. Newly launched Karma CBD water is infused with 7 essential vitamins, 25 mg of antioxidant-rich CBD distillate, and 4 nourishing adaptogens for delivering full encourage effects to support holistic health.
  • In June 2018, Heinekin’s Lagunitas has launched new cannabis-infused sparkling water line in California by making Heineken the first international brewer to launch THC-infused cannabis beverage. Newly launched product called Hi-Fi Hops are non-alcoholic beverages which contains zero alcohol, zero carbohydrates, and zero calories. Hoppy sparkling water beverage is available in two dosage – one contains 5 mg of THC (tetrahydrocannabinol) & 5 mg of CBD (Cannabidiol) and other beverage contains 10 mg of THC (tetrahydrocannabinol).

Analyst View:

CBD beverages are new on the market and has been growing in popularity over last few years. CBD is a natural product tested with highest standards and natural product benefits our body and mind. CBD oils has been helping with aches, pain, anxiety and aiding in falling asleep. CBD beverages are alcoholic and non-alcoholic which are infused with cannabidiol (CBD). CBD beverages like energy drink provides quick boost of energy and CBD infused cold-brew coffee experience chilled & great taste. CBD beverages has beneficial therapeutic properties which has made them popular. However, rising demand for functional beverages, beer, spirit among consumers is expected to boost the target market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on CBD Beverage Market, By Type (Alcoholic and Non-alcoholic), By Grade (Pharmaceutical Grade and Food Grade), By Distribution Channel (Online Stores, Mass Merchandisers, Convenience Stores, Storefront Dispensaries, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2032”

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https://www.prophecymarketinsights.com/market_insight/CBD-Beverage-Market-5041

Key Market Insights from the report:

CBD Beverage Market accounted for US$ 3221.0 million in 2022 and is estimated to be US$ 46221.8 million by 2032 and is anticipated to register a CAGR of 28.7%. The CBD Beverage Market is segmented based on Type, Grade, Distribution Channel, and Region.

  • Based on Type, CBD Beverage Market is segmented into Alcoholic and Non-alcoholic.
  • Based on Grade, CBD Beverage Market is segmented into Pharmaceutical Grade and Food Grade.
  • Based on Distribution Channel, CBD Beverage Market is segmented into Online Stores, Mass Merchandisers, Convenience Stores, Storefront Dispensaries, and others.
  • By Region, the CBD Beverage Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of CBD Beverage Market:

The prominent players operating in the CBD Beverage Market includes, PepsiCo, CBD Biotechnology Co. Ltd., Cannoid LLC., Isodiol International Inc., NuLeaf Naturals LLC., Tilray Brands Inc., American Premium Water Corp., Phivida Holdings Inc., Kill Cliff LLC., Rocky Mountain High Brands Inc., and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Scope of the Report: 

  1. CBD Beverage Market, By Type
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Alcoholic
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Non-Alcoholic
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
  2. CBD Beverage Market, By Grade, 2022 – 2032, (US$ Mn)
    • Overview                                      
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Pharmaceutical Grade
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Food Grade
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
  3. CBD Beverage Market, By Distribution Channel, 2022 – 2032, (US$ Mn)
    • Overview                                      
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
      • Y-o-Y Growth Analysis (%), 2022 – 2032
      • Segment Trends
    • Online Stores
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Mass Merchandisers
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Convenience Stores
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Storefront Dispensaries
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
    • Others
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
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About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period

Browse for Related Reports: 

1. Cannabidiol (CBD) Market, By Source (Hemp and Marijuana), By Application (Pharmaceuticals, Cosmetics & Personal Care, Food & Beverages, and Others), By Distribution Channel (Online Stores, Retail Pharmacies, Hospitals, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030

2. CBD Nutraceuticals Market, By Product Type (CBD Tinctures, Capsules & Softgels, CBD Gummies, and Others), By Sales Channel (Retail Stores, Online, and Pharmacies), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2026

3. Medical Cannabis Market, By Point of Sale (Dispensaries, Online Pharmacy, Hospital Pharmacy), By Active Ingredient (Tetrahydrocannabinol (THC) and Cannabidiol (CBD)) By Therapeutic Application (Pain, Arthritis, Neurological Disease and Other) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2029


Cannabis

Cannabis Testing Market Worth $4.0 billion | MarketsandMarkets™

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cannabis-testing-market-worth-$4.0-billion-|-marketsandmarkets™

CHICAGO, May 23, 2024 /PRNewswire/ — Cannabis Testing Market in terms of revenue was estimated to be worth $1.8 billion in 2024 and is poised to reach $4.0 billion by 2029, growing at a CAGR of 17.2% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The important factors impacting market growth are legalization trends and rising medical applications for cannabis. Rising approvals for medical and recreational cannabis drive the regulations requiring product safety testing which in turn fuel the need for cannabis testing services. Additionally, the rise in the number of cannabis testing labs due to legalization is propelling the demand for analytical instruments is likely to uplift market growth in coming years.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=46932450

Browse in-depth TOC on “Cannabis Testing Market”
439 – Tables
52 – Figures
378 – Pages

Cannabis Testing Market Scope:

Report Coverage

Details

Market Revenue in 2024

$1.8 billion

Estimated Value by 2029

$4.0 billion

Growth Rate

Poised to grow at a CAGR of 17.2%

Market Size Available for

2022–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product & Software, By Service & By End User

Geographies Covered

North America, Europe, the Asia Pacific, Latin America and the Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Untapped markets in emerging economies

Key Market Drivers

Increasing legalization of medical and recreational cannabis

Products segment held the highest estimated share of the cannabis testing market.

Based on product & software, the cannabis testing market is segmented into products (analytical instruments {chromatography instruments [liquid chromatography, gas chromatography & other chromatography instruments], spectroscopy instruments [mass spectrometry instruments & atomic spectroscopy instruments] & other analytical instruments} and consumables {chromatography columns, standards and CRMS, sample preparation products and other consumables) and software. The product segment accounted for the largest share of the cannabis testing market in 2023. Market growth is driven by technological advancements providing sophisticated tools for precise analysis, ensuring compliance and quality control, and the expanding legalization of cannabis products. Additionally, increasing requirements for potency labeling and pesticide screening fuel the demand for specialized consumables, further propelling growth in the cannabis testing market. For example, Thermo Fisher Scientific Inc. launched the Thermo Scientific SureSTART consumables portfolio consisting of vials, well plates, caps, inserts, kits, and mats to improve analytical performance and sample security for chromatography and mass spectrometry users in routine and research labs in clinical, food, pharma, biopharma, environmental, and academic sectors.

High growth of services segment attributed to potency testing services.

Based on service, the cannabis testing market is broadly segmented into terpene profiling, microbial analysis, residual solvent analysis, potency testing, heavy metal testing, pesticide screening, and other services. In 2023, potency testing accounted for the largest share of the cannabis testing services market. The high growth of this segment is due to stringent regulatory requirements ensuring accurate THC and CBD levels. This is crucial for product labeling, consumer safety, and compliance, driving demand from producers and dispensaries seeking to meet legal standards and provide reliable, high-quality products.

Services take away the largest estimated share of the end-user segment.

Based on end users, the cannabis testing market is classified into segmented into product & software end users (cannabis testing laboratories {small-scale laboratories, medium-scale laboratories, large-scale laboratories} and research institutes) and service end users (cannabis drug manufacturers & dispensaries, cannabis cultivators/growers). In 2023, the service end users’ segment was predicted to account for the highest share of the global cannabis testing market. The large share of this end user segment is due to the rising consumer awareness of quality and safety, rising legalization of cannabis, stringent regulatory standards, and technological advancements in cannabis testing.

During the forecast period, North America displayed lucrative market growth.

North America accounted for the largest share of 65.5% of the cannabis testing market in 2023. The North American market is projected to reach a value of USD 2.6 billion by 2029 from an estimated value of USD 1.2 million in 2024, at a CAGR of 17.3% during the forecast period. The region leads the cannabis testing market due to stringent regulatory standards, robust infrastructure, and widespread legalization of cannabis for medical and recreational purposes. Additionally, North America’s advanced R&D capabilities and evolving consumer demand for quality assurance drive its prominence in this growing sector.

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Cannabis Testing Market Dynamics:

Drivers:

  1. Increasing legalization of medical and recreational cannabis
  2. Increasing use of cannabis for medicinal applications
  3. Technological advancements in testing technologies

Restraints:

  1. Lack of standardization
  2. Investment risks due to regularization

Opportunities:

  1. Untapped markets in emerging economies
  2. Research collaborations

Challenge:

  1. High setup costs

Key Market Players of Cannabis Testing Industry:

The global cannabis testing market comprises many key market players competing for markets shares like Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg).

The primary interviews conducted for this report can be categorized as follows:

  • By Respondent: Supply Side- 70%, and Demand Side – 30%
  • By Designation (Supply Side): Managers – 45%, CXOs & Directors – 30%, Executives- 25%
  • By Region: North America -40%, Europe -25%, Asia-Pacific -20%, Latin America -10%, MEA- 5%

Recent Developments:

  • In September 2023, Shimadzu Corporation launched the Brevis GC-2050 gas chromatograph used in various applications including cannabis testing.
  • In April 2023, SC Labs, one of the leading cannabis testing companies, acquired C4 Laboratories, one of the first Arizona cannabis labs, thus allowing it to be licensed and accredited in five states: California, Colorado, Michigan, Oregon, and Arizona.
  • In June 2022, Shimadzu Corporation launched the AA-7800 series atomic absorption spectrophotometers. The AA-7800 series is used for quality control in the raw material, food, and for inspecting water quality and hazardous substances in soil thus presenting an advantage in heavy metal testing of cannabis.

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Cannabis Testing Market – Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cannabis testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers: 

  • Analysis of key drivers (increasing legalization of medical and recreational cannabis, increasing use of cannabis for medicinal applications and technological advancements in testing technologies), restraints (lack of standardization and investment risks due to regularization), opportunities (untapped markets in emerging economies and research collaborations) and challenges (high setup costs) are influencing the growth of cannabis testing market.
  • Product Development/Innovation: Detailed insights on newly launched products of the cannabis testing market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the cannabis testing market across varied regions.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cannabis testing market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players include Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Waters Corporation (US), Restek Corporation (US), SGS SA (Switzerland), Merck KGaA (Germany), PerkinElmer, Inc. (US), Hamilton Company (US), Sigma Analytical Services (Canada), SC Labs (US), PharmLabs LLC (US), MCS, Inc. (US), ProVerde Laboratories (US), and Eurofins Scientific (Luxembourg) among others in the cannabis testing market.

Related Reports:

Drug Screening Market – Global Forecasts to 2029

Laboratory Proficiency Testing Market – Global Forecasts to 2028

Life Science Instrumentation Market – Global Forecasts to 2028

Digital PCR Market – Global Forecasts to 2028

Flow Cytometry Market – Global Forecasts to 2028

Get access to the latest updates on Cannabis Testing Companies and Cannabis Testing Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Solei Brand Introduces New Cannabis-Infused ‘Warming Deep Tissue Stick’

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Medical Cannabis Market Report 2024-2030: Asia-Pacific Set to Witness Robust Growth, Driven by R&D Discovery Initiatives

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