CBD Wine Industry Overview
The global CBD wine market size was valued at USD 10.38 million in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 32.0% from 2022 to 2030. The market growth is driven by the shifting consumer behavior patterns for food and beverages across the world and increasing relaxations in the laws of CBD edibles in various countries.
The COVID-19 pandemic has disrupted the global supply chain and distribution channel, owing to the restrictions and closure of restaurants, bars, and hotels globally. The first phase of COVID-19 was challenging for new brands because of regulatory uncertainty and retailers’ lack of focus on bringing in new brands. However, there was a change in consumers’ buying behavior, and e-commerce sales of CBD wine have increased since then.
Gather more insights about the market drivers, restrains and growth of the Global CBD Wine Market
The demand for CBD products is growing globally, which has a significant impact on the CBD wine market. Hemp-based CBD and marijuana-based CBD wine are two major types in the CBD wine market. Hemp plants have significantly more CBD than marijuana plants, making them the more profitable alternative for manufacturers and the option with the fewest legal repercussions. Thus, the market penetration of hemp-based CBD wines is higher than marijuana-based CBD wines.
The enthusiasm for CBD wines is growing rapidly. North America dominated the CBD wine market, particularly among the millennials (26 to 41 years), a generation that is extremely aware of a healthy lifestyle. The increased focus on health and wellness and alcohol-free beverages across the globe is accelerating the demand for these wines.
The CBD wine is indeed making its way onto dispensary shelves. A large part of CBD’s popularity stems from the legalization of cannabis, which includes CBD with well-moderated levels of THC. Several countries have legalized the cultivation and production of cannabis, opening up a whole new market for CBD wine, a new product that is gaining popularity in the CBD industry.
Browse through Grand View Research’s Consumer F&B Industry Research Reports.
- Organic Wine Market – The global organic wine market size was estimated at USD 8.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030.
- Cooking Wine Market – The global cooking wine market size was valued at USD 320.5 million in 2019 and is expected to witness significant growth over the forecast period.
Key Companies profiled:
Some prominent players in the global CBD wine market include
- House of Saka
- Rebel Wine.Co.UK
- Viv & Oak
- Wines of Uruguay
- Burdi W.
- Bodegas Santa Margarita
Order a free sample PDF of the CBD Wine Market Intelligence Study, published by Grand View Research.