Look for cannabis-infused drinks to make a splash next year. According to the ‘Disrupting Drinks’ report published by cannabis market intelligence firm Prohibition Partners, cannabis drinks are likely to pose a threat to the dominating alcoholic beverage industry. The report also states that the market for cannabis-infused drinks is expected to rise to an estimated $4 billion by 2024.
Today, only a few brewers produce beverages with cannabis. Typically, these drinks have CBD or THC, which are both compounds of marijuana. THC is the primary ingredient that produces the psychoactive effect, while CBD works as an inflammatory and mood modulator. Both of these compounds can be combined used in drinks separately or together.
One of the most notable milestones in this rapidly growing business segment was the announcement of the formation of the Cannabis Beverage Association (CBA), a trade association established to represent and advocate on behalf of the producers and consumers of cannabis beverages.
But even these important facts and trends provide only a fraction of the picture into why the cannabis-infused beverage is poised to skyrocket in 2021. Here are five reasons why.