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Functional drinks are non-alcoholic beverages consumed by health-conscious people. They contain organic and natural ingredients, used in place of sweeteners and sucrose. The global functional drinks market is expected to grow at a CAGR of 8.81%. On the basis of product, the market is categorized into fruit and vegetable juices, energy drinks, prebiotic and probiotic drinks, sports drinks, and functional ready-to-drink (“RTD”) teas.
According to ArcView Market Research, edibles and other infused products, defined as anything other than the bud itself, make up at least half of the total $6.7 billion market in North America, and the total market for marijuana is expected to top $20.2 billion by 2021 as Canada moves toward implementing legal recreational marijuana use. BDS Analytics found that in 2016, Colorado consumers spent $190 million US on edible pot, or more than 12 percent of total marijuana sales, and up a whopping 50 percent from 2015. ArcView also reports that California sales totaled $180 million last year for marijuana-infused food and drinks last year, a 10 percent share of its total cannabis sales, and a whopping 121 percent increase in sale of edibles in Washington state. A pretty plausible reason for this growth: non-smokers. Statistics available to 2014 show that smoking rates overall have decreased dramatically, down to 16.8 percent in 2014 from 20.6 percent in 2009. The smoke-free nature of edible consumption is a natural alternative. This number, obviously with the legalization of adult-use recreational marijuana, will surely grow exponentially.
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