The hustle and bustle of modern life often leaves consumers searching for new ways to relax and unwind after a hectic day. Similarly, an increasingly more environmentally conscious public is moving today’s zeitgeist towards plant-based and organic products.
At the intersection of these two motivations lies the cannabis-based drinks market. Cannabis market intelligence and strategic consultancy firm Prohibition Partners forecasts that this cannabis drinks sector could be worth up to $1.82 billion by the end of 2020 and $5.8 billion by 2024.
In a new report, “The Impact Series: Disrupting Drinks”, Prohibition Partners examines the consumer motivations that make these cannabis drinks products so attractive, and details further insights into the sector garnered from extensive consumer surveys and industry analysis.
‘Natural’ Cannabis Drinks
In a survey of over 3,600 adults who had purchased a CBD/hemp-infused drink within the past year, Prohibition Partners found that 47% of respondents most strongly associated these beverages with the word ‘natural’, with another 29% attributing the category to the characteristic of ‘healthy’.
With such strong associations already present in consumers’ minds, producers of cannabis and CBD/hemp-infused beverages must be careful not to alienate this base of health-oriented consumers. This would also suggest that cannabis-based drinks …