Cannabis Beverages Market Share

Geographically, the cannabis beverages market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America industry is expected to hold largest revenue share by 2037, attributed to growing spending on cannabis beverages, the prevalence of legislation norms, and presence of many private players in the region.

Uruguay and Canada have entirely legalized the use of marijuana for medicinal purposes. Liberal states in the US such as New York, New Jersey, Vermont, and California have also either legalized or are looking at ways to legalize the usage of marijuana. In total 33 states, District of Columbia, Guam, Puerto Rico, and U.S. Virgin Islands have allowable comprehensive, publicly available cannabis programs as per State Medical Marijuana Laws.

Europe is predicted to hold second position in the global cannabis beverages market, owing to the rising investment for cannabis beverages, growing awareness, and the rise in number of cannabis consumers in the region.
Additionally, the companies functioning in the region are launching products in order to sustain the growing trend of wellness drinks. Manchester-based CBD Ultra and Cloud 9 Brewing have launched the U.K.'s first CBD infused craft beer brewed with Cannabis Sativa extract.

The Cannabis Trades Association (CTA) is the oldest and biggest cannabinoid centric trade association for the UK and Europe. They work with all sectors of the hemp and cannabis industry for promoting good practice, providing practical advice, and ensuring consumers of legal cannabis and hemp products and also have the right to use top quality information.

Usage of cannabis is legalized in major parts of South and Central America, as well as Africa. Countries, such as Australia and Uruguay are also projected to witness noteworthy upliftment in product demand, in consequence of the legalization of marijuana for medical and recreational purposes.