The cannabis industry is expected to grow at a rapid pace in the coming years. It is estimated the industry will be worth around $100B by 2030, with cannabis drinks representing $6B of that figure (sources: MJ Biz; Grand View Research; Reports & Data). Growth is due to a number of factors, including:
- The increasing legalization of marijuana: More and more states and countries are legalizing marijuana for recreational and medicinal use, and this is opening up new markets for cannabis drinks.
- The meteoric rise of D9 Drinks: Hemp-derived delta 9 THC drinks (which give the high a marijuana THC) has exploded across the US with over 140 D9 drink brand as of early 2024.
- The growing popularity of cannabis-infused drinks: Cannabis-infused drinks are becoming increasingly popular among consumers. This is due to the perceived health benefits of cannabis and the ability of cannabis to provide a more discreet and socially acceptable way to consume cannabis
- The rising demand for healthier and non-alcoholic beverages: Cannabis drinks offer a healthier and more natural alternative to sugary and alcoholic beverages. THC drinks (either marijuana or D9) may help destress, detox and improve your sleep.
With all this growth, the industry is expected to look very different in 2030.
Some of our top predictions:
1. Lounges and bars
Consumption lounges and cannabis bars will become prevalent in airports, food and beverage hot spots, inside popular hotels and even on your favorite cruise ships. They will be safe spaces for people to consume a variety of cannabis products including D9 thc-infused drinks. Many will resemble your favorite bars and restaurants, with excellent hospitality, appealing design concepts, world-class chefs serving delicious dishes whilst mixologists make the finest cannabis-infused cocktails.
Image source: The Studio Cannabis Lounge at The Artist Tree Restaurant (California)
2. Higher Education
We’ll see an increase in courses and degrees dedicated to cannabis, resulting in more skilled professionals and ultimately higher paying jobs. If the industry supports roughly 400k jobs in the US in 2023, it’s easy to see this growing significantly by 2030. There will be an abundance of jobs needed in marketing and advertising, sales, ecommerce, retail, hospitality and a need for highly skilled professionals for new product development and cultivation, infusion and processing.
3. Cannabis Tourism
Cannabis tourism is traveling to places where marijuana is legal, to explore the local culture, products, and experiences related to cannabis. Examples of cannabis tourism activities could be seeking out a meal at a 5 star cannabis-friendly restaurant that serves infused food and drinks, selecting a cannabis-themed hotel, taking a tour of a cannabis farm or attending a cannabis festival. Cannabis tourism is a growing trend, as more and more countries legalize marijuana, and offers a unique opportunity to experience a new culture and learn about the benefits of cannabis.
4. Sponsorship and Celebrities
With growth will come greater legalization and regulation, opening up more marketing opportunities for cannabis brands, and therefore bigger spending on advertising. Outside of the usual media channels, celebrity brand ambassadors will become more prevalent, as will likely sport sponsorships. These are high profile plays for brands with bigger budgets, and could see significant money inflows from the top cannabis brands. We’ll see more movie stars and musicians becoming the face of cannabis and more stadiums and sport events receiving cannabis brand sponsorships.
5. TCH Drinks Everywhere
Seeing your favorite THC-infused beverages in fridges at your local liquor and wine store will become the norm (we’re already seeing this in many States now thanks to D9 drinks) as will finding them at your neighborhood coffee shop and local grocery store. You’ll also be able to order your favorite Delta 9 THC drinks online from the likes of Amazon and Drizzly, or ask for a THC D9 cocktail while you get your nails done, a haircut, or a massage.
The future for the cannabis industry and THC drinks is exciting. It will bring new products, new experiences, and new opportunities for consumers like never seen before. The norm will become seeing the best THC drink brands on a restaurant menu next to alcohol, watching a cannabis beverage tv ad while you binge your favorite tv show on Netflix, or organizing with friends or work colleagues to meet up at your favorite D9 cannabis consumption lounge.
FAQs
Are there any specific regulations or standards in place to monitor the production and distribution of these beverages?
In the United States, where cannabis legalization is handled at the state level, individual states have their own regulations regarding the production, labeling, and testing of THC-infused beverages. Additionally, many producers undertake rigorous testing processes to ensure the potency and purity of their products, often working with third-party laboratories to verify the quality of their offerings (You can find the Certificate of Analysis / COAs on most THC drink websites). .
Are there any challenges or concerns regarding the normalization of cannabis consumption alongside alcohol consumption?
While there’s a growing acceptance of cannabis for both recreational and medicinal purposes, particularly in regions where legalization has occurred, there are still lingering stigmas and concerns associated with public consumption. As a result, the expansion of lounges, bars, and similar establishments catering to cannabis enthusiasts may face challenges related to social acceptance and regulatory compliance. Ensuring responsible consumption and addressing potential public health and safety concerns will be crucial in shaping perceptions and facilitating the normalization of cannabis consumption alongside alcohol in social settings
What are the global trends regarding the legalization and acceptance of cannabis, and how might these trends impact the future of THC drinks on a global scale?
There’s a noticeable trend towards greater acceptance of cannabis, driven by shifting attitudes, mounting evidence of its therapeutic benefits, and economic considerations. Countries such as Canada, Uruguay, and several states in the U.S. have paved the way for legal cannabis markets, serving as models for other nations considering similar reforms.
As more countries explore cannabis legalization, there’s potential for significant growth in the global THC drink market beyond the U.S., with regions such as Europe and Asia emerging as potential key players in the industry’s expansion.
Read our 5 best thc drinks for summer 2023
Updated: February 2024
