CBD Wine Market Research, 2031
The global CBD wine market size was valued at $11,100 thousand in 2021, and is projected to reach $112,458.2 thousand by 2031, growing at a CAGR of 27.8% from 2022 to 2031.
As hemp is a name that is occasionally used to refer to the CBD plant, it is primarily used to describe the Cannabis species that are grown for purposes other than drug production. Tetrahydrocannabinol (THC) and cannabidiol (CBD), the two most widely used cannabinoids, are among the more than 100 distinct forms of cannabinoids.
In both developed and developing economies, beverages containing CBD are quite popular. The increase in consumers adopting CBD-infused beverages can be ascribed to this. Additionally, a rise in disposable money has contributed to the expansion of the CBD wine market. Another aspect that contributes to the market expansion is the emergence of new, inventive beverages manufactured by infused cannabis. However, this market is constrained by the varying cost of raw materials. Contrarily, it is projected that the market for CBD wine would expand as a result of rising demand from high-income groups for the product and the introduction of new flavors.
The market for CBD wine is significantly impacted by the rising demand for CBD products on a global basis. The industry mostly consists of two types: hemp-based CBD wine and marijuana-based CBD wine. The CBD content of hemp plants is substantially higher than that of marijuana plants, making them the more lucrative option for producers and the one with the fewest legal ramifications. As a result, hemp-based CBD wines are more widely available than those made from marijuana.
The global CBD wine market is analyzed on the basis of type, packaging, distribution channel, and region. By type, the market is divided into hemp-based CBD wine and marijuana-based CBD wine. By packaging, the market is divided into cans and glass bottles. By distribution channel, it is classified into online and offline. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The hemp-based CBD wine segment, as per product type, dominated the global medical CBD wine market in 2021 and is anticipated to maintain its dominance throughout the forecast period. The growing adoption of hemp-based CBD wine among millennials is boosting the demand all over the globe. Manufacturers of hemp-based CBD wine experience few legal repercussions as the low THC presence in wine fulfills the legalization requirement for the product.
The glass bottles segment dominates the global CBD wine market. Glass is durable, non-porous, impermeable to oxygen, and heat tolerant, which preserves the flavor of the wine. It is non-reactive, safe to use, and does not stain or hold leftover flavors.
The offline segment exhibits the fastest CBD wine market growth in the global CBD wine market. Specialty stores, mass merchandisers, and other establishments fall under offline. Small retail establishments known as specialty stores specialize in the sale of a certain product line and related goods.
Region wise, North America dominated the market with the largest share during the forecast period. Consumer demand for CBD wine products is rising in both nations, which accelerates industry expansion in North America. The global CBD wine market has grown significantly since CBD has been made legal for use in the beverage industry.
In terms of volume, Asia-Pacific is home to the second-largest wine market, driven mostly by China, Japan, and South Korea. Due to its sizable consumer base, rising disposable incomes, and supportive legislation, the province has a lot of potential. Businesses promote their goods to millennials by putting them in appealing bottles, giving them a sweeter flavor, and reducing the alcohol content. The rising urban prosperity and the pervasiveness of wine in business culture are to account for the rising CBD wine market demand in the Asia Pacific region. Red wine is more likely to experience branch growth because it is thought to be beneficial to one's health. Strong sales will also be aided by the Chinese concept that the color red represents strength, wealth, and fortune.
The public's awareness of CBD's benefits for health and wellbeing is growing, as is the desire for functional beverages made with healthy, natural ingredients. The number of customers who are concerned about their health and are aware of the advantages of the items is also rising. Growing consumer awareness of the wellness benefits of the products and an increase in the number of consumers who are health-conscious are further factors boosting the market for CBD wine. High-end goods containing the Cannabis Energy Drink (CBD) ingredient are becoming more and more well-liked across Europe and North America as legalization continues to push CBD into the mainstream market. It is created in order to give customers a quick energy boost, sharper focus, and greater alertness throughout the day. The attractive beverage, which is available in a variety of flavors like classic, light, raspberry, and mango, is a fierce rival to the well-known Red Bull Energy Drink. The cannabis or CBD wine business has been expanding over the past few years due to the availability of various flavors in health beverages.
The market for CBD drinks is expanding as a result of trends including the mainstreaming of products for athletes as well as the rising availability of these drinks. The widespread use of CBD (cannabidiol) beverages in industrialized countries is a result of the legalization of cannabis and products made from it. Due to a positive regulatory outlook and the therapeutic benefits of CBD, the legalization movement has gained traction, especially in America. One of the various compounds that may be extracted from hemp or marijuana is cannabidiol, which has caught the interest of several industry players in the CBD beverage sector. CBD's antioxidant and neuroprotective properties are being utilized by market participants including beverage manufacturers. The market for CBD beverages will grow as people become more aware of their health benefits. Wine without alcohol, kombucha, water, and cold-brew coffee are a few examples of important product categories. The most popular among them all is kombucha.
The majority of other nations still forbid cannabis, despite the fact that many have authorized its use in the beverage business. As a result of the restriction, its production is similarly limited, which causes a lack of supplies on the market in many nations. For market conditions and to maintain a balance between supply and demand, the emerging economies rely on production from other nations as well. However, the prohibition of cannabis in many nations is lowering the supply-demand balance, which is impeding the expansion of the market.
Numerous nations are taking the initiative to legalize cannabis or CBD in the beverage sector due to the numerous health benefits of cannabis. Earlier, it was illegal in many nations; however, many more are making an effort to legalize cannabis or CBD after Uruguay and Canada did so. Since more market players would be able to enter and create new product lines due to the initiative taken for the legalization of cannabis or CBD, profitable chances are anticipated to arise during the CBD wine market forecast period.
The competitive environment for the market has evolved due to the ongoing shift in consumer preferences. First off, a wide spectrum of customers is turning away from alcohol, as seen by the drop in global alcohol sales, and the demand for CBD products is rising as a result of the controlled dosage and simplicity of this form. Second, there is a strong push for product innovations in the areas of convenient drink solutions, customized drinks, sustainable packaging, and ingredient transparency. Additionally, celebrities' increasing involvement in brand and influencer endorsements of CBD is bringing the product into the limelight.
The major players analyzed for the CBD wine industry are Aurora Cannabis, Inc., Bodegas Santa Margarita, Callmewine, Cannavine, Cry Baby Wine, Diageo, DrinkSipC, Heineken NV, Hempfy, Hexo Corporation, House of Saka, Lagunitas, Molson Coors Beverage Company, Rebel Wine.Co.UK, and Wines of Uruguay. Key players operating in the market have adopted product launch, business expansion, and mergers & acquisitions as key strategies to expand their CBD wine market share, increase profitability, and remain competitive in the market.
Players exploring in the industry are those that want to provide some of the more unique convenience store experiences. By producing new labels that will grace the market in the upcoming months, beverage manufacturing companies are expanding their line of CBD wine. Yesway serves as an example. Recently, the business said that it has launched four new brands and is growing its product lines for the industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cbd wine market analysis from 2021 to 2031 to identify the prevailing cbd wine market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the cbd wine market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global cbd wine market trends, key players, market segments, application areas, and market growth strategies.
CBD Wine Market Report Highlights
| Aspects | Details |
 By Type |
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 By Packaging |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | DrinkSipC, Hexo Corporation, Diageo plc., Dutch Windmill Spirits, Hempfy, SK Rodnik, Mary Jane's Magical Hemp Wines, House of Saka, Viv & Oak, CannaVines, Rebel Wine Co.UK, Bodegas Santa Margarita, Burdi W., Molson Coors Brewing Company, Lagunitas |
Analyst Review
The perspectives of the leading CXOs in the CBD wine industry are presented in this section. In 2021, approximately 45% of global revenue was generated in North America, which dominated the market. Due to an increase in CBD wine consumption in Asian nations, Asia-Pacific is anticipated to experience the fastest growth rate during the forecast period.
According to CXOs, the legalization of CBD wine products encourages beverage product innovation. Due to urbanization and the modern lifestyle, there has been a significant increase in the demand for beverages infused with CBD. In Asia-Pacific, commercial farmland expansion and an increase in the production of CBD wine have led to a rise in the use of cannabis in the beverage sector. Two key factors driving the industry are increases in per capita income and worldwide population growth. Additionally, the market growth has been positively impacted by a rise in the average selling price of CBD wine in the majority of the countries. The global shift in consumer tastes for food and beverages as well as the easing of CBD edibles legislation in various nations are driving the market expansion.
The global CBD wine market size was valued at $11,100.0 thousand in 2021, and is projected to reach $112,458.2 thousand by 2031, registering a CAGR of 27.8% from 2022 to 2031.
The forecast period in the CBD wine market report is 2022 to 2031.
The base year calculated in the CBD wine market report is 2021.
The top companies analyzed for global CBD wine market report are Aurora Cannabis, Inc., Bodegas Santa Margarita, Callmewine, Cannavine, Cry Baby Wine, Diageo, DrinkSipC, Heineken NV, Hempfy, Hexo Corporation, House of Saka, Lagunitas, Molson Coors Beverage Company, Rebel Wine.Co.UK, and Wines of Uruguay.
The hemp-based CBD wine segment is the most influential segment in the CBD wine market report.
North America holds the maximum market share of the CBD wine market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
The market value of the CBD wine market in 2021 was $11,100.0 thousand.
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