THC and CBD Infused Drinks Gaining Popularity
"It’s been a long time coming."
It’s anticipated that marijuana-infused drinks could reach a $600 million-dollar target in just four years. Canaccord Genuity analysts predict that beverages containing THC or CBD ingredients could grab up to 20% of the American market for edible cannabis products by 2022, up from 6% of the edibles sold currently.
With Constellation Brands Inc, already a large stakeholder in the Canopy Growth Corp. and Molson Coors partnering with Hexo Corp, it’s evident that the cannabis beverage industry is set to grow in leaps and bounds.
Why are Beverage Companies Getting into the Cannabis Industry?
It’s been a long time coming.
Two multinational companies in the beverage industry, Constellation Brands and Coca-Cola are having serious talks about going into partnership with Aurora Cannabis. Major moves are predicted to happen soon.
Constellation Brands, maker of Modelo and Corona beers has already acquired a 10% stake on Canopy Growth Corp. (CGC), the largest producer of cannabis in Canada. According to sources, Constellation plans to develop cannabis-infused beverages.
Heineken and Molson Coors Brewing Company have also joined the cannabis industry.
Brightfield Group projects that by 2022, adult-use cannabis sales around the world will hit the $22 billion mark. In essence, the cannabis market is rapidly growing.
More on this topic: 5 Cannabis Businesses You can Start with $1,000
CBD Infused Beverages on the Market Today
Sprig sodas is a THC/CBD beverage line located in Southern California. Sprig CBD sodas are crafted with 20mg of hemp and contain no more than 5 calories per can. The company has expanded their sales and distribution beyond California. These beverages are now available in Illinois, Pennsylvania, Texas, Washington, Vermont, New York, Nevada and Florida.
Their THC line is currently only available in the state of California due to current restrictions and regulations prohibiting sales across state and international lines.
Mood33 a Cannabis Beverage company also based out of California distributes Cannabis infused sparkling tonics. Their 12 oz bottles boast 10mg of THC and 5 mg of CBD with only 33 calories per bottle. They combine their proprietary cannabis oil and terpene blends with herbs, organic tea and fruit extractions. The plant derived sweeteners helps keep their beverages low in calories.
Profit Potential with CBD and THC Beverages
If the beverage makers could get even a fraction of the market, it could boost their margins tremendously. That figure looks very attractive in the face of declining sales in states where marijuana is legalized. A recent study revealed that between 2006 and 2015, alcohol sales had decreased by 15% in marijuana-legalized states. Major brands including Molson Coors and Heineken have been affected by the declining purchases.
There’s also mounting evidence that an increasing number of people are substituting their usual drinks with THC drinks. Adults, millennials included, love the high they get from THC drinks minus the calories. To combat this issue, the beverage industry needs to find innovative ways to stay afloat. It’s in the best interest of beverage companies and beer makers to join this profitable opportunity, rather than be beat by the competition.
Teera Tech Links Up with Valiente Group to Produce Sparkling Wine Infused with Cannabis
Terra Tech Corporation, a cannabis-focused agricultural company, has teamed up with Valiente Group LLC, a beverage production company, to produce cannabis-infused non-alcoholic sparkling wine. Other non-alcoholic products the two companies will be making are cherry-lime sparkling water, margarita mix, apple cider, zero calorie lemon-lime soda, and lemonade.
Terra Tech says that the sparkling wine, which will have a luxurious packaging, will have a flavor similar to champagne. The marketing campaign of the non-alcoholic sparkling wine is intended to target mainly nightclubs. The infusion technology making the production of these beverages possible is SORSE. It’s a branded technology from Tarukino Holdings. The patent-pending emulsion process leaves the beverages free of any cannabis flavor or oily residues.
Terra Tech has plans of large-scale production of the sparkling wine. The company has high hopes that many adults will make the switch to their new cannabis beverage, once they learn that cannabis allows them to unwind and socialize with others, without the negative effects that come with alcohol consumption.
The Future Outlook of Cannabis Drinks
Cannabis infused beverages are forecasted to grow at a surprising rate. Businesses are looking to capitalize off this golden opportunity and people are looking to party and relax in a healthier manner without hangovers and beer bellies. If you are in the state of California check out these following links on Cannabis Drinks that are available at nearby dispensaries: