CBD Wine Sales May Soon Experience Significant Growth
CBD wine sales are set to experience significant growth as people become more familiar with CBD and its potential benefits. The CBD wine industry is still young, but all indications indicate a continually expanding market. Quoting a report published by Allied Market Research, The Drinks Business magazine says revenues for the global CBD wine sector were $11.1 million in 2021 and are projected to grow to $112 billion by 2031.
The significant industry expansion is attributed to several factors. They include an increasing global population, increasing per capita income and legalization of CBD in developed nations like the U.S., Canada and Australia. However, another primary reason is CBD and wine are associated with wellness. Combining the two ingredients may deliver synergistic effects.
CBD wine is made by infusing wine with CBD extract or isolate CBD. The researchers wrote,
“…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.”
Combining wine and CBD offers consumers a flavorful way to enjoy CBD during their wine-drinking experiences. They get the health benefits of wine and the wellness benefits of CBD.
The CBD wine market includes wine made with CBD extracted from hemp and wine made with CBD extracted from the marijuana plant. The wine made with hemp-based CBD extract has dominated the market so far and is expected to continue to do so. In the U.S., only wine made with hemp-based CBD would be legal. Using CBD extracted from the hemp plant ensures the THC content is less than 0.3%.
CBD wine will likely be sold primarily in stores and supermarkets, but that could change over time. It is not surprising that CBD wine is becoming popular. The CBD beverage and drinks sector has experienced significant growth, so it naturally follows that producers would develop CBD wine as another drink option. This combination has the potential to create an expanding wine sector. The U.S. has the world’s largest wine market, accounting for over 16% of national alcohol sales. Adding a novel product like CBD wine will appeal to younger generations, already driving market growth.
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