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Move Over Craft Beer and Coffee, Cannabis Beverages Are The Next Big Thing -- CFN Media
Seattle, Washington--(Newsfile Corp. - May 2, 2019) - CFN Media Group ("CFN Media"), the leadi...
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[{"type":"text","content":"Move Over Craft Beer and Coffee, Cannabis Beverages Are The Next Big Thing -- CFN MediaSeattle, Washington--(Newsfile Corp. - May 2, 2019) - CFN Media Group (\"CFN Media\"), the leading agency and financial media network dedicated to the North American cannabis industry, announces the publication of an article covering the exciting and emerging cannabis beverage market. The craft beer industry has experienced unprecedented growth across the United States with more than 7,000 microbreweries generating upwards of $26 billion in annual revenue, according to Statista. While these beers account for just over 10% of beer sales, those figures jump to nearly 60% when looking at the Millennial population. These same trends exist in other craft markets, such as the market for high-end coffees and teas.The legalization of cannabis has the potential to dramatically reshape these markets. In recreational markets, such as craft beers, the infusion of tetrahydrocannabinol (THC) could create new experiences for consumers without the adverse side-effects of alcohol consumption. In wellness markets, such as craft teas, the infusion of cannabidiol (CBD) could provide a wide range of potential added benefits to support healthier lifestyles.The cannabis industry is projected to surpass $146.4 billion by 2025, according to Grand View Research, driven by the liberalization of cannabis regulations around the world. While most of this growth has come from cannabis flower, there's no doubt that cannabis oils and concentrates are the fastest growing subset of the market. And, cannabis beverages could become the fastest growing subset of that concentrates market in short order.Zenith Global believes that cannabis-infused beverages could become a $1.4 billion market by 2023-up from just $89 million last year. Cannabis infused beers and teas are just the beginning-THC and CBD are being infused into sodas, ciders, wines, spirits and even bottled water with concentrations ranging from 2.5 milligrams to more than 100 milligrams. Many of these products are already on the market in the United States where legal.Growing Interest in the SpaceMany large beer companies were unprepared for the rise of craft beer, but beverage giants aren't about to make the same mistake with cannabis. While the alcohol industry has already made sizable investments and inroads into the...