Are CBD-Infused, Mood-Boosting Drinks the Hottest Trend in Cannabis for 2023? Consumers Are Paying Up!
There is an ongoing trend of people turning away from alcoholic beverages, with several individuals seemingly making vows to stop alcoholic drinks consumption heading into the new year. Research on this trend has come up, showing that there is more substance to this sober curiosity than just a trendy dry January challenge.
Abstinence rituals like “Dry January” may be more than simply a social media trend, according to new data from consumer insights company Veylinx. More than 75% of Americans claim to have previously temporarily abstained from booze for at least one month. Half (46%) of drinkers are currently attempting to cut back on their alcohol intake, and 52% are doing so by switching to non-alcoholic beverages. The biggest motivations for cutting back on alcohol use, according to consumers, are to improve physical and mental health.
Non-alcoholic wine, liquor, and cocktails are becoming increasingly popular, driven by younger consumers. According to Veylinx CEO Anouar El Haji, people attempting to cut back on their drinking are discovering more and more substitutes on store shelves, in bars, and restaurants. According to the study, consumers are willing to pay higher prices for non-alcoholic variants of ready-to-drink cocktails. Brands have many chances for expansion in this market thanks to the emergence of the “sober inquisitive” movement.
The market for canned non-alcoholic cocktails is expanding quickly. Veylinx, a company that measures customer purchasing behaviors through behavioral research, analyzed the market to find out who exactly are the people buying these beverages and why. The study examined the demand for versions with functional advantages like mood enhancers, detoxifiers, and CBD.
In general, alcohol consumers are more willing to pay for canned drinks without alcohol than non-consumers. Additionally, those who claim to desire to cut back on their alcohol intake show a larger preference for non-alcoholic beverages.
For these customers, interest in non-alcoholic canned drinks is 13% higher than in alcoholic versions. The gap between consumers making attempts to drink less and the general public is even more obvious at high price points, where demand from these customers for non-alcoholic canned drinks is 71% greater at $20 for a four-pack.
CBD-INFUSED DRINKS/MOOD BOOSTERS
Drinks with CBD now exist in the US as part of a new wellness drink trend that promises consumers happier moods and calmer states of mind and provides minerals and vitamins.
The increased interest in these functional drinks coincides with wellness fads like healthy eating and sober curiosity. It is driven by an increase in the number of people who care about their health yet are also extremely stressed. According to a recent study, the market for functional beverages—which includes non-alcoholic drinks and those with additional vitamins, minerals, dietary fibers, Minerals, probiotics, and fruits—will grow to $156.43 billion by 2026.
The CBD and mood-boosting versions of the canned non-alcoholic beverages tested work best, while the zero-calorie and natural detox versions fall short. Demand for a $12 four-pack of non-alcoholic canned cocktails jumps by 13% with the addition of CBD and by 9% with the addition of natural mood enhancers. The variant with added CBD is the most popular among men, driving 16% higher demand than a typical non-alcoholic drink. Women prefer the zero-calorie version the most, outpacing the standard version by 14%.
YOUNG CONSUMERS ARE LEADING THE TREND
Demographics and consumption patterns impact demand: The largest demand is seen among those aged 21 to 35, light drinkers, and those who have previously abstained from alcohol for about a month or more. All the non-alcoholic ideas have the greatest appeal to younger customers.
The demand for canned non-alcoholic beverages is 48% higher among people over 21 to 35 than among people over 35.
Adding CBD to drinks increases demand among consumers aged 21 to 35 by 18%.
The mood boost version, which contains natural adaptogens and nootropics, has the largest demand from people over 35 and generates 29% more demand than the regular non-alcoholic version.
Those who have previously participated in Dry January are more likely to make purchases—by 65%—than those who haven’t.
PRICE, TASTE, AND CHANCE ARE KEY TO GETTING MORE CUSTOMERS
The best ways to draw more customers into the category are through the chance to experience before you buy and superior flavor. The flavor, cost, and the fact that they have yet to try them before, according to consumers, are the top deterrents to buying non-alcoholic beverages. In line with this, more health advantages, the option to sample before purchasing, and better flavor were mentioned as reasons why individuals would choose to purchase these drinks in the future. One-fifth of shoppers prefer to give something a try first before making a buy.
CBD MOOD-BOOSTING DRINKS FOR YOU
These are two of the top CBD-infused drinks you could try.
Kaló Hemp Infused Seltzer-
You can choose from 8 various flavors of the Kaló Hemp Infused Seltzer, depending on your preferences. Raspberry Lime is a potent fusion of fresh citrus and sweet berries; Pomegranate Peach is a balanced blend of tart and sweet flavors; Lemon Lavender is full of citrus and has a calming taste; Strawberry Lemon is the ideal light summer beverage.
Kickback CBD Lemonade –
Kickback, a company that was established in 2016, was among the first to provide CBD-infused beverages, and they are now at the forefront of this quickly expanding sector. Their CBD beverages are produced with organic, premium ingredients and are intended to relieve tension and give you a functional chill.
ON THE RESEARCH
Veylinx employs behavioral research to determine how much consumers will pay for a product through a genuine bidding process, in contrast to traditional surveys where customers are only asked about their preferences. By putting sealed bids on things and then responding to questions about their justifications for buying or not buying, consumers can show their genuine willingness to pay. Consumers in the United States who were 21 years of age or older participated in the research in October 2022.
Following the desire to switch from(or stop drinking) alcoholic beverages, people are open to paying more for mood-boosting CBD-infused drinks as it is said to be in line with general wellness and eating healthy and not just as a means of jumping on the ‘dry January trend.’