Excerpt: Many cannabis industry officials believe THC beverages could be a huge driver of growth in the coming years, particularly if companies can convince alcohol imbibers that they can be a healthier alternative. But as Paul’s recent deep dive into the market documented, that theory of consumer behavior is so far largely unproven.
But what about the market for CBD beverages?
Nearly one in three current CBD users are beverage consumers, according to a new infographic based on polling data from High Yield Insights. That’s up from just 17 percent two years ago. In addition, nearly half of people who aren’t currently CBD consumers said they’d be open to trying beverages infused with the non-psychoactive cannabinoid.
The data also suggests that CBD drinks appeal to a different consumer profile than other hemp-derived products. Millennials and Gen Z’ers, for example, account for 62 percent of the CBD beverage market, but only 45 percent of the broader CBD market. In addition, men account for 60 percent of the CBD beverage market, while only making up 40 percent of the overall market for hemp-derived products.
