Cannabis has become the buzz word in the beverage industry, and mainstream companies are already taking strides in the CBD- and/or THC-infused drinks landscape. According to a new study, the global sales of cannabis infused drinks will surpass US$ 200 Mn in 2019. While the legalization of marijuana in over 10 states of the U.S. sparked a wave of innovative product launches in the edibles space, the second wave of recreational marijuana legalization resulted in a lawful emergence and proliferation of cannabis infused beverages – alcoholic and non-alcoholic.
The study finds a remarkable uptick in consumer preference for ‘non-alcoholic’ category, which range from functional drinks, tea and coffee, to juices. Although the non-alcoholic category currently accounts for meagre shares of cannabis infused drinks market, prospects are expected to be bullish as the permeation of recreational marijuana gradually grows, and players tap the opportune potential in the demographic group that cringes away from alcohol consumption. According to the study, sales of non-alcoholic cannabis infused drinks will record a 30% Y-o-Y in 2019 over 2018.
THC-infused drinks have been the first preference among consumers, however CBD-infused drinks have also gained sheer traction in the recent past. These two cannabinoid categories are estimated to account for over 70% sales of cannabis infused drinks worldwide in 2019. However, the study opines that hybrid cannabis infused drinks that contain both CBD and THC strains will pick up pace gradually – estimated to register a 40% Y-o-Y in 2019 over 2018.
For large beverage manufacturers, the push into cannabis initiated by the fear of missing out; and the current boom in pot investment by leading beverage companies is driven by the already trending shift of millennials from the usual wine or cocktails to cannabis-infused beverages, beer in particular. Availability continues to be a key sales propellant of cannabis infused drinks, as these beverages are approved to be sold in modern trade chains across regions where marijuana has been legalized for medicinal and recreational use.
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Leveraging emerging technology, while tracking trends in mainstream beverage industries, in order to introduce innovative variants, continue to remain key expansion strategies of players in the cannabis infused drinks market. Additionally, the growing consumer preference for cannabis-infused products, which impart particular effects has been hard-pressing leading beverage companies in offering a diverse variety of THC as well as CBD dosages in their product offerings. A greater emphasis on organic and naturally-sourced ingredients continues to mold prospects of the cannabis infused drinks market.
Fired Heaters Market
The Global Fired Heaters market report is a recent research, offers critical insight into the market dynamic. This report also assays delicate market issue such as drivers, restraints, and opportunities along with their effect on the growth of the market. The report also discloses the analysis of present industry trends and opportunities of the market. Furthermore, the market insight offered in this report covers exhaustive study and valuable insight on comprehensive profiles of the key players in the market and crucial view of the competitive landscape worldwide.
Global Fired Heaters market witnessed a market value of USD XX Million in 2018 and is estimated to reach USD XX million in 2025, registering a compound annual growth rate (CAGR) of XX% between 2018 and 2025. The report analyses the market by geographies i.e. North America, Europe, Asia Pacific, Latin America & Middle East & Africa. Further, the geographies are fragmented into the country and regional groupings:
This report focuses on Fired Heaters volume and value at global level, regional level and company level. From a global perspective, this report represents overall Fired Heaters market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
Key players operating in the fired heaters market, as profiled in the study, include AbsolutAire, Inc., TechEngineering S.r.l., Optimized Process Furnaces, Inc., G.C. Broach Company, Thermax, Exotherm Corporation, Amec Foster Wheeler, Sigma Thermal, Hetsco Inc., Unit Birwelco Group, and Boustead International Heaters Ltd.
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Global Fired Heaters Market Segmentation:
The research offers a comprehensive analysis of global Fired Heaters market with respect to following sub-markets:
Based on Product Type
– Direct-fired heaters
– – – Reformer
– – – Hydrocracker
– – – Gas Oil Hydrotreater
– – – Crude Distillation
– – – Vacuum Distillation
– – – Others
– Indirect fired heaters
Based on Configuration
– Vertical cylindrical
– Horizontal cylindrical
– Cabin type
Based on Heating Capacity
– Upto 10 MMBtu/hr
– 11-50 MMBtu/hr
– Above 50 MMBtu/hr
Based on End-use Sector
Based on Geographically
Other regions (Central & South America, Middle East & Africa)