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Posted by Harry on July 10, 2024 at 1:19am 0 Comments 0 Likes
The global CBD Wine Market size is anticipated to reach USD 126.8 million by 2030, expanding at a CAGR of 32.0%, according to a new report by Grand View Research, Inc. Rising awareness regarding health and wellness among consumers across the globe is a major factor driving the CBD wine market growth.
Consumers are spending more on alcohol-free and CBD-infused products, mainly in North American countries. The potential health benefits of CBD products are expected to drive the CBD wine market globally. A large part of CBD's popularity stems from the legalization of cannabis, which includes CBD with well-moderated levels of THC. Several countries have legalized the cultivation and production of cannabis, opening up a whole new market for CBD wine.
The COVID-19 pandemic affected the market negatively. The consumers became more open-minded and knowledgeable wine drinkers. The interest in wine is catching up with the interest in food. The lockdown phase of the pandemic, and the work-from-home policy, caused a spike in wine consumption. People spent more time preparing meals, drinking, and learning about new wines. The curiosity in wine enthusiasts to try new wines is driving the CBD wine market growth.
Related Press Release@ CBD Wine Market Report
CBD Wine Market Report Highlights
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