A recent report released by Allied Market Research has sparked discussions about the readiness of the beverage industry for CBD-infused wine. The report highlights North America as the leading consumer of CBD wine and suggests that this emerging category holds promise as a fusion of innovation and wellness, potentially shaping the future of beverage consumption.
Key findings from the report indicate that the global CBD wine sector attained a value of US$11.1 million in 2021 and is forecasted to surge to US$112 billion by 2031, demonstrating a notable compound annual growth rate (CAGR) of 27.8% from 2022 to 2031.
Analysts have identified CBD wine as a sector with substantial potential for industry expansion. They note that although the market is currently in its nascent stage, its contribution to the overall beverage market is expected to grow significantly in the projected period.
Several factors are driving consumer interest in CBD wine, including the expanding global population and rising per capita income. CBD wine production typically involves infusing wine with CBD extract or isolates during the manufacturing process. This infusion allows for the incorporation of CBD’s therapeutic properties into the wine, creating a unique product appealing to both wine enthusiasts and consumers interested in exploring CBD benefits.
Despite its potential, analysts caution that regulatory frameworks surrounding the production and sale of CBD-infused products vary by region. Consumers are advised to purchase from reputable sources that adhere to relevant laws and regulations.
The trend of CBD-infused beverages is gaining traction, particularly in industrialized nations such as the US, Canada, and Australia, where cannabis legalization has spurred demand for CBD extracts. Additionally, increased per capita income and population growth have contributed to rising demand for CBD wine.
The report identifies emerging countries as key consumers of CBD wine due to their higher per capita incomes. It categorizes the CBD wine market into hemp-based and marijuana-based segments, with hemp-based CBD wine currently dominating the market share and expected to maintain its position in the forecast period.
Hemp-based CBD wine, derived from cannabis sativa strains with low THC concentrations, is primarily sourced from hemp plant leaves and flowers. The report predicts that offline distribution channels, such as stores and supermarkets, will drive the growth of the CBD wine market, with California anticipated to lead as the top consumer of CBD wine among US states.
