North America CBD Infused Beverages Estimated To Be One of the Largest Sectors in Cannabis Industry Through 2025
PALM BEACH, Fla. – FinancialNewsMedia.com News Commentary – Consumers are shifting their preference from soft drinks to wellness drinks leading to the increasing sale of cannabis beverages. Low sugar content in drinks is the major driving factor for the growth of the market. Also, consumers prefer these beverages as an alternative to cannabis smoking and consumption of marijuana-infused chocolates, cookies, brownies, and confectionaries like gummies and candies. Off-trade sales channels such as hotels, cafes, restaurants, clubs, and lounges are expected to boost the popularity of the product among consumers. A report from Grand View Research said that the global cannabis beverages market size is expected to reach USD 2.8 billion by 2025, expanding at a CAGR of 17.8% during the forecast period. The report said: “The rising popularity of wellness drinks is also expected to support the demand over the forecast period. The legalization of cannabis for medical and recreational purposes has had a strong impact on the sales of alcoholic drinks. As a result, many alcohol manufacturers are investing in the growing trend of marijuana-infused drinks. For instance, Lagunitas, Heineken’s fast-growing California beer label, launched Hi-Fi Hops, which is a cannabis-based beverage with zero calories or carbs and is infused with Cannabidiol (CBD) and Tetrahydrocannabinol (THC). In 2017, Constellation Brands, the third-largest beer manufacturer in the U.S., entered into a partnership with Canopy Growth – the world’s largest marijuana grower, to develop cannabis-infused beverages.” Active cannabis companies in news today include: CanaFarma Hemp Products Corp. (OTCPK: CNFHF) (CSE: CNFA), Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), HEXO Corp (NASDAQ: HEXO) (TSX: HEXO).
Grand View Research continued: “Strong demand for cannabis beverages from millennials is also anticipated to drive the market growth. As per a 2017 Yahoo News poll, majority of the 55 million recreational marijuana users in the U.S. were millennials. Most millennials consume marijuana socially and only 25% of them consume it alone. A 10-year study by researchers at the University of Connecticut and Georgia State University, completed in 2017, found that in U.S. counties where marijuana was legalized, wine and beer purchases decreased by 15%. North America is estimated to be the fastest and largest market over the forecast period. The growth is majorly driven by the legalization of marijuana for medical and recreational purposes. Europe is estimated to witness strong growth over the forecast period, owing to a rise in cannabis consumers in the region.”
CanaFarma Hemp Products Corp. (OTCPK: CNFHF) (CSE: CNFA) BREAKING NEWS – CanaFarma Announced Just Live® Partnering with Vertical Wellness to Launch Athlete Founded, Nature Grounded CBD Infused Sparkling Water – CanaFarma Hemp Products Corp. announced that Just Live® has partnered with Vertical Wellness™ Inc. , a company with which CanaFarma recently entered into an MOU to acquire (see the Company’s press release dated June 29, 2021 for further details) to introduce Just Live® CBD Sparkling Water. Continuing Just Live’s objective to provide fitness enthusiasts of all levels with a trusted source of natural alternatives, Just Live® will be rolling out its first product extension into the Sparkling Water category.
“With Just Live’s athlete, brand and product expertise and Vertical Wellness’s experience and leadership in the beverage industry, we are thrilled to introduce our first brand extension into CBD infused Sparkling Water”, said Kevin Meehan, Just Live CEO. “Since we introduced Just Live last year, we have received an enormous amount of positive feedback from our community about the benefits of CBD in their workouts, sleep and recovery efforts. The progression into the beverage category happened organically, if you will, and we developed a handful of great tasting flavors that deliver the benefits of CBD in a refreshing and hydrating Sparkling Water.”
Just Live’s CBD Sparkling Waters will include the refreshing flavors of Meyer Lemon, Cran-Raspberry, Lime with Mint, Clementine, Mixed Berry and Grapefruit. Each serving provides 25 mg of the highest quality, American grown hemp-derived CBD, using the latest emulsion technology to ensure the greatest efficacy per serving. All Just Live® products are THC-free, alcohol free, and have no intoxicating attributes. Additionally, Just Live’s high-quality products are completely compliant, and are created via a fully transparent supply chain.
“We believe cannabis infused beverages will be one of the most important form factors for consumers,” said Smoke Wallin, CEO of Vertical Wellness and a long-time beverage industry leader. Wallin continued, “There is no brand in the market with this kind of athlete driven support. I couldn’t be more excited to launch Just Live CBD Sparkling Waters with our national distribution partners into our key retailer and hospitality partners in select markets.”
In other industry news of note:
STORZ & BICKEL GmbH, a subsidiary of world-leading diversified cannabis, hemp, and vaporization company Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), recently announced the release of three new vaporizer updates: the limited edition VOLCANO ONYX, the enhanced CRAFTY+, and the first-ever MIGHTY+. Engineered with cutting-edge technology, these enhancements to STORZ & BICKEL’s iconic portfolio demonstrate the brand’s continued leadership in the high-potential vaporizer industry.
“STORZ & BICKEL has spent the past 20 years developing the world’s most prestigious vaporizer models, consistently defining and refining the gold standard of consumer safety and best-in-class performance,” said Jürgen Bickel, Founder and Managing Director, STORZ & BICKEL. “We’re raising the bar for the industry once more with an innovative approach to an iconic lineup, featuring the entirely new VOLCANO model alongside upgrades to the most sought-after handheld vaporizers to deliver what connoisseurs and collectors value most: an unmatched vaporization experience.”
Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON), an innovative global cannabinoid company, and Ginko Bioworks, which is building the leading horizontal platform for cell programming, recently announced the achievement of the first target productivity milestone in their partnership to produce eight cultured cannabinoids. Ginkgo, which recently announced a business combination with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), serves customers across industries seeking to develop new and better products using biology. Using Ginkgo’s platform for organism design and development, Cronos Group has successfully achieved the productivity target for cannabigerolic acid (CBGA), which will support the Cronos Group’s planned CBG product launch this fall.
Launched in 2018 with the goal of accessing rare molecules in the cannabis plant in order to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos Group and Ginkgo aims to develop eight molecules. The program convenes Cronos Group’s deep understanding of the biological structure and function of cannabinoids with Ginkgo’s unparalleled experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture and more.
Aurora Germany GmbH, a subsidiary of Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, and Ethypharm, have recently and successfully delivered their initial shipment of cannabis to the French medical cannabis pilot program, set to begin serving patients in the coming weeks. Aurora and Ethypharm were selected by the National Agency for the Safety of Medicines and Health Products (ANSM) to supply the entire medical cannabis dried flower range (three lots of the tender) to French patients during the pilot program.
“The first prescriptions of dried medical cannabis as part of the French pilot program are a significant step toward providing access to patients and will support the destigmatization of medical cannabis in France,” says Miguel Martin, Chief Executive Officer of Aurora Cannabis. “This accomplishment is another example of Aurora’s leadership in global cannabis, with a proven track record of supporting the advancement of international medical cannabis markets alongside government bodies. By demonstrating a deep commitment to compliance and focus on product quality, we won three of the nine available tenders. If successful, this pilot program could lead to one of the largest regulated medical cannabis markets in Europe.”
HEXO Corp (NASDAQ: HEXO) (TSX: HEXO) recently announced completion of the previously announced acquisition of all of the outstanding shares of the entities that carry on the business of Redecan, Canada’s largest privately-owned licensed producer (the “Transaction”). At closing, HEXO paid the selling shareholders of Redecan $400 million in cash (subject to certain customary closing adjustments) and delivered 69.7 million newly issued common shares of HEXO.
“This is an exciting day for HEXO and Redecan employees, investors, consumers and stakeholders,” said HEXO CEO and co-founder Sebastien St-Louis. “The completion of this transaction is aligned with our corporate growth strategy and will further strengthen our position as a leader in the Canadian cannabis industry, bolstering the combined company as we look towards becoming a top three global cannabis products company and continue on the path towards positive EPS.”
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