The CBD wine market is growing at an exponential rate and according to a report, it is estimated that it will reach about $2.8 billion by 2025. In nature, the market is uneven because there are many small and medium scale companies. The rise in legalization of cannabis in order to eliminate the black market and boost the tax revenue from legalized CBD products sales is anticipated to positively influence the overall growth of the industry.
The Growth of CBD Wine
The cannabis legalization for medical and recreational purposes has had a strong impact on the sales of alcoholic beverages. As a result, many winemakers are now investing in the growing trend of THC wine. Many manufacturers are launching cannabis-infused wine products with zero carbs or calories. Some brands are even entering into partnerships to develop high-quality CBD infused beverages to capture the market and take advantage of the growing wine trend. Just like CBD edibles, the infused wine industry has quickly gained popularity among consumers and now with more and more states legalizing cannabis for recreational use, the industry is seeing rapid growth.
Why is CBD Wine Trending?
There are a number of reasons why CBD wine is trending at the moment. Consumers are now leaving soft drinks behind and moving towards wellness drinks which has led to the increased growth of CBD beverages, specifically cannabis-infused drinks. As compared to regular wine, CBD infused wine contains low sugar content which is a key driving factor for the growth of the market.
Apart from this, consumers prefer beverages as an alternative to other forms of cannabis consumption, e.g. CBD edibles, vaping, cannabis-infused brownies, cookies, chocolates, and confectionaries such as candies and gummies. Off-trade sales channels are expected to boost the popularity of cannabis wine products among consumers. Strong demand for CBD beverages from millennials is also a key factor that is driving the cannabis wine growth. Most millennials consume cannabis socially and only about 25% of them consume it alone.
According to a study, U.S. counties where CBD was legalized, beer and wine purchases decreased by 15%. This outcome is not surprising considering how beneficial cannabis infused wine is as compared to regular wine. It offers the same amazing wine-drinking experience, without the psychoactive high effect. Not to mention you also get to enjoy the various therapeutic benefits of CBD.
The Future of CBD Wine Industry
The industry is seeing a rapid growth and it won’t be stopping anytime soon. North America is estimated to be the largest and the fastest market for marijuana wine in the future. The growth in this region is majorly driven by the legalization of cannabis for medicinal and recreational purposes. Europe is also estimated to witness strong industry growth thanks to the rise of consumers in the region. The winemakers operating there are launching alcohol-free CBD beverage products to keep up with the growing trend of wellness drinks.