- The global cannabis juice market is projected to reach at $385.05 million in 2027.
- Increasing number of B2B e-commerce selling is encouraging the market growth as B2B marketing have higher conversion rate and bigger order values.
- The market is growing at a CAGR of 6.62% CAGR between 2019 and 2027.
The cannabis juice is produced using of industrial hemp and it is used in the areas of nutrition, medicine, cosmetics, and relaxing beverages. Moreover, its full-bodied umami flavor offers the ability to enhance its specific flavor, especially sweet or savory and harmonizes tastes overall. The juice of the uppermost parts of the plant has an intensive green color and its pure flavor is bitter. The juice of the fibers and the shoots of the plant are lighter in color and tastes sweet.
Hemp is an ideal plant for organic agronomists because it needs minimal inputs, is fairly unaffected by to pests and diseases, and grow so fast and tall that it outcompetes weeds, minimizing the need for hand cultivation a major labor cost effective for most other organic crops.
Increasing number of B2B e-commerce selling is encouraging the market growth as B2B marketing have higher conversion rate and bigger order values. In addition, the company has to deal with companies or group and not customers. Since companies are involved it is much easier to convince a single or group of companies about the products of the company then convincing a large number of customers. This makes it easy for manufacturer to sell its products in other region/countries.
The global cannabis juice market is segmented into types, application, distribution channel and regions. Based on the major types, the global cannabis juice market is segregated into organic and conventional. Moreover, household and commercial are the major application segments of the market. On the basis of distribution channel the market is segmented into business to business (B2B) and business to customer (B2C).
Sana Hemp Juice, Cloud 9 Hemp, Portland Juice Co., the Bristol Hemp Co., Kama Hemp, Venus Hemp, and Claremont Collection GmbH are some major players of the global cannabis juice market.
In terms of regions, the global cannabis juice market includes North America, Asia Pacific, Europe, South America and Middle East & Africa. Among these regions, North America was the largest market for cannabis juice in 2018. North America is followed by Asia Pacific and Europe in 2018. Furthermore, Asia Pacific is expected to be the fastest growing market for Cannabis juice over the years to come. Europe is also anticipated to grow with a significant CAGR in the near future. Increasing brand awareness among consumers is the crucial factor compelling the growth of B2C distribution channel in the region. Furthermore, growing number of marketing channel, intense marketing strategies, product launch events are supporting the B2C distribution channel share in cannabis juice market globally.