Hemp THC Beverages On Tap To Outpace Regulated THC Drinks
It’s also one of the fastest-growing categories
Cannabis-infused drinks might be a small product category right now, but it’s forecast to become a multibillion dollar market in just a few years. However, it isn’t regulated cannabis THC drinks sold at dispensaries driving the growth; it’s hemp-derived THC drinks.
According to Future Market Insights, the cannabis drinks market is estimated to reach $8.3 billion by 2032, driven by millennials shifting from alcohol to cannabis drinks. The theory is that these consumers already use cannabis recreationally and want to drink less alcohol, creating a sweet spot of opportunity.
Euromonitor found that in 2023, sales of regulated THC cannabis beverages reached approximately $196 million in the U.S., just 1% of total retail cannabis sales. However, it’s also one of the fastest-growing category.
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