CBD Wine Market: Explosive Growth Projected to $112 Billion by 2031.

A unique blend of CBD and wine drives market expansion; North America leads in consumption.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, April 23, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled “CBD Wine Market," the global CBD wine market was valued at $11,100 thousand in 2021 and is projected to reach $112,458.2 thousand by 2031, growing at a CAGR of 27.8% from 2022 to 2031.

👉 𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 https://www.alliedmarketresearch.com/request-sample/A16911

The CBD wine market offers significant potential for industry expansion. Although the market is still in its early stages of development, during the projected period, its contribution to the overall market is anticipated to rise significantly. Numerous countries' increased legalization of cannabis-infused beverages has compelled the market to create cutting-edge goods like CBD wine. CBD wine market demand is rising as a result of the expanding worldwide population and rising per capita income.

CBD wine is a unique beverage that combines the properties of cannabidiol (CBD) with traditional wine. CBD, a non-psychoactive compound derived from the cannabis plant, is known for its potential health benefits, such as relaxation and stress relief, without causing intoxication.

CBD wine typically involves infusing wine with CBD extract or isolates during the production process. This infusion allows for the integration of CBD's therapeutic properties into the wine, creating a novel product that appeals to both wine enthusiasts and consumers interested in exploring the potential benefits of CBD.

The combination of CBD and wine introduces a new dimension to the wine-drinking experience, offering a blend of flavors and potential wellness benefits. However, it's essential to note that regulations surrounding the production and sale of CBD-infused products vary by region, so consumers should ensure they are purchasing from reputable sources that comply with relevant laws and regulations.

The legalization of cannabis in industrialized nations, including the U.S., Canada, and Australia, has raised the demand for beverages with CBD extracts. Increased demand for cannabis or wine with CBD has been driven up by rising per capita income and population growth, which has also increased cannabis output. A specific location's capita income is a measurement of the average annual income per person there. By dividing the overall revenue of the region by the entire population, the standard of living of a nation is determined. The consumption of CBD wine is ultimately higher in emerging countries since they have larger per capita incomes than developed countries. One of these CBD wine market trends is driving market growth.

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The global CBD wine market is analyzed on the basis of type, packaging, distribution channel, and region. By type, the CBD wine market is divided into hemp-based CBD wine and marijuana-based CBD wine. Among these, the hemp-based CBD wine segment occupied the major CBD wine market share of the market in 2021 and is projected to maintain its dominance during the forecast period. Hemp is a cannabis sativa strain that belongs to the genus cannabis and has a tetrahydrocannabinol (THC) concentration of less than 0.3%. It is typically made from the leaves and flowers of the hemp plant. Due to the legalization of cannabis for recreational and medical purposes in a number of U.S. states as well as Canada, that region is where the majority of edibles made from hemp are sold.

By packaging, the market is divided into cans and glass bottles. The glass bottle segment is growing at a moderate rate during the forecast period. Wines are typically packaged in glass bottles because of their nonporous, nontoxic surface and excellent impermeability. It is a great option for wine because it maintains aromas and carbonation very well. It conveys a sense of elegance that other materials find challenging to match. Glass bottles have been a common packaging choice for so long that they are frequently thought of as having a classic or retro feel.

By distribution channel, it is classified into online and offline. The offline segment is anticipated to grow at its highest CAGR during the forecast period. Supermarkets, hypermarkets, retail establishments, and specialized stores all fall under the category of offline distribution channels. The growth of the growth of the CBD wine market is anticipated to be fueled by consumer preference for offline distribution channels.

The region that dominated the global CBD wine market in 2021 was North America, and this dominance is anticipated to continue during the forecast period. Due to the legalization of marijuana for both medical and recreational purposes, the U.S. controlled the market. In the US, California is the state that consumes the most CBD wine. The world's largest market for CBD wine continued to be in North America. North America has a higher use of CBD products than other regions of the world because local consumers are aware of CBD and its health advantages.

Exporters in both developed and developing nations faced a number of difficulties as a result of the COVID-19 epidemic. The implementation of lockdown and curfew procedures on a global scale had an impact on both domestic and foreign manufacture of CBD wine, which in turn hindered market expansion. As a result, the COVID-19 epidemic had a negative influence on the CBD wine market in 2020 as a result of decreased company sales and operations being suspended.

The major players analyzed for the global CBD wine industry are Aurora Cannabis, Inc., Bodegas Santa Margarita, Callmewine, Cannavine, Cry Baby Wine, Diageo, DrinkSipC, Heineken NV, Hempfy, Hexo Corporation, House of Saka, Lagunitas, Molson Coors Beverage Company, Rebel Wine.co.uk, and Wines of Uruguay.

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𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐒𝐓𝐔𝐃𝐘

By type, the hemp-based CBD wine segment was the highest revenue contributor to the market, with $8,454.0 thousand in 2021, and is estimated to reach $83,870.0 thousand by 2031, with a CAGR of 27.5%.

By packaging, the glass bottles segment was the highest revenue contributor to the market, with $8,849.2 thousand in 2021, and is estimated to reach $89,888.8 thousand by 2031, with a CAGR of 27.8%.

Depending on distribution channel, the offline segment was the highest revenue contributor to the market, with $9,526.4 thousand in 2021, and is estimated to reach $97,356.0 thousand by 2031, with a CAGR of 27.9%.

Region-wise, North America was the highest revenue contributor, accounting for $4,972.8 thousand in 2021, and is estimated to reach $48,132.1 thousand by 2031, with a CAGR of 27.2%.

David Correa
Allied Market Research
+1 5038946022
help@alliedmarketresearch.com
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