The cannabis drinks segment has been steadily growing in popularity for the past couple of years. As the cannabis market has matured, players in the cannabis space have been developing a wide variety of products in a bid to capture a part of the massive cannabis market. Cannabis-infused beverages are the latest entrant in the cannabis market. Although the space is only a few years old, the global cannabis beverage market is already projected to be worth $2 billion by 2026. Some of the biggest beverage companies in the world are betting big on cannabis-infused beverages. In March, Canadian cannabis company Canopy Growth, once the largest cannabis company in the world, launched its own brand of flavored CBD beverages called Quatreau in the United States. Six months later, Canopy Growth partnered with New York-based Karna Water to launch CBD-infused water called Karma CBD Water, available at 25,000 retailers across America. In August, American-Canadian brewing company Molson Coors expanded Verywell, its CBD beverage line under Truss USA, a joint venture with HEXO USA Inc. to 17 states. Michael Bronstein, president of the American Trade Association for Cannabis, says both cannabis companies and mainstream beverage companies have shown considerable interest in cannabis beverages. A Cannabis Beverage Council launched by the association this year has even attracted the attention of Adolphus Busch V, the great-great-grandson of the founder of brewing company Anheuser Busch. Adolphus Busch V is the founder of Colorado-based ABV Cannabis.
CannabisNewsWire, 12/09/2021 04:20:00