The cannabis industry is undergoing a significant transformation as consumer preferences shift toward craft beverages and edibles. These products are not only diversifying the market but also attracting a broader demographic, including health-conscious individuals and those seeking alternatives to traditional consumption methods.
A Surge in Cannabis-Infused Beverages
Cannabis-infused beverages are rapidly gaining popularity. According to Fortune Business Insights, the global cannabis beverages market was valued at $2.04 billion in 2023 and is projected to reach $117.05 billion by 2032, growing at a compound annual growth rate (CAGR) of 57.5%. This growth is driven by consumers seeking fast-acting effects and a desire for alternatives to alcohol.
In Illinois, for instance, the popularity of THC-infused beverages has surged, partly due to new tariffs on European alcoholic imports making cannabis drinks a more cost-effective option. Local breweries are adapting by incorporating THC beverages into their offerings to meet this growing demand.
The Edibles Market Expansion
Edibles continue to be a significant segment of the cannabis market. The global cannabis edibles market was estimated at $12.3 billion in 2024 and is projected to grow to $54 billion by 2034, with a CAGR of 15.9%. Within the edibles category, beverages have emerged as the fourth-largest segment, accounting for 6% of edible sales in Q2 2024, following candy, chocolates, and pills.
The appeal of edibles lies in their discreet consumption and the variety of options available, catering to both recreational users and those seeking specific health benefits.
Demographic Shifts Influencing Demand
A notable demographic shift is influencing product demand. For the first time, young women in the U.S. are consuming more cannabis than men, leading companies to refocus their strategies. Products like edibles, tinctures, topicals, and beverages are being tailored to appeal to female consumers, who now make up a significant portion of the market.
This shift is prompting companies like Tilray and High Tide to invest more in brands favored by women, recognizing their substantial influence on purchasing decisions.
Craft Producers and Market Diversification
Craft beverage producers are capitalizing on this trend by diversifying their offerings to include CBD-infused drinks. The global CBD-infused beverages market reached $1.45 billion in 2024 and is projected to grow to $7.65 billion by 2033, exhibiting a CAGR of 18.5%. These beverages appeal to consumers seeking wellness benefits without the psychoactive effects of THC.
Companies like Puresport are expanding their product lines beyond edible CBD supplements to include stress-relieving adaptogenic mushrooms and electrolytes, responding to regulatory constraints and consumer demand for diverse wellness products.
Looking Ahead
The intersection of craft beverages and edibles within the cannabis industry reflects a broader trend toward personalized, health-conscious consumption. As legalization expands and consumer preferences evolve, the demand for innovative, craft-oriented cannabis products is expected to continue its upward trajectory, reshaping the market landscape.