Everything About Marijuana infused Beverages
There was great optimism about cannabis heading into 2020. After the stigma of marijuana was gone, more states legalized recreational marijuana. And the industry was in record numbers. Then came the pandemic that struck, and economies around the world were hit hard.
However, it wasn’t all terrible. New Jersey (Arizona, Montana, South Dakota) all voted to legalize recreational marijuana last election cycle. This increased the number of cannabis-friendly state to 15, while medical marijuana is now legalized within 36. As the saying goes: All good things are for those who wait.
If you enjoyed the cannabis markets last year and are still enthusiastic about them, you can feel even more optimistic about them now. The pandemic will be under control soon, and we have a President who is expected push for procannabis legislation to the federal level.
It’s hard to predict the impact of that push, but it’s worth educating the public about a growing market segment: marijuana-infused beverages.
Great Expectations
Infusing cannabis in food or beverages isn’t a new idea. It has been done for years. The only difference is that today, the concept is expected to be commercially successful.
A new report produced by market analysis firm Prohibition Partners estimates that the global cannabis drinks marketplace will be worth $5.8Billion by 2024. The compound annual rate at which this market is growing is 45 percent.
If this sounds too ambitious, consider the exponential growth that has occurred in the CBD market nearby: global CBD sales in 2014 were $3.4 billion. They were $11 million four years later. They’re projected to reach $23 trillion by 2025.
It’s clear that cannabis-based products are in high demand. Prohibition Partners found that 25% would consider trying a drink with cannabis infusions. 28 percent have said that they have had a cannabis-infused cocktail and plan to order another within the next 3 months.
Industry leaders formed the Cannabis Beverage Association to promote and support the cannabis beverage market. Things are changing fast.
But what exactly is the purpose of these products?
Different types of Cannabis Beverages
First, note that no matter what state you live in, most likely you have access at least one form of cannabis-infused drink. The reason is that CBD–one primary constituent of the cannabis plant-has been legalized at all levels. CBD infused drinks are readily available.
THC is also a cannabis cannabinoid. THC and CBD both make you “high”, while CBD makes you feel calmer. CBD has many benefits, including the ability to regulate mood and promote relaxation. People with chronic conditions such as arthritis will benefit from CBD’s powerful anti-inflammatory abilities.
In states where recreational marijuana is still illegal, cannabis-infused beverages contain only CBD (or CBD with negligible amounts THC). Furthermore, they will not contain marijuana but hemp, which was legalized through the Farm Bill.
Vita Coco recently launched CBD-infused coconut water. Ocean Spray is just one of the many brands that offer CBD seltzer. CBD teas are also very common.
Companies who are based in countries such as Canada or the states where marijuana has been legalized have more creativity. They can make drinks that contain CBD ANDTHC. This allows consumers to have a more complete experience with cannabis. These products are becoming increasingly popular among cannabis users, who seek an alternative to smoking or vaping.
Cannabis-Infused Beer
In the near future, marijuana infused beer (or cannabis beverages made at breweries) will be the mainstay of the cannabis beverage sector. There are many breweries that offer CBD and THC-infused beer. Most, if not all, of these products are non-alcoholic.
Lagunitas Brewing Company offers HiFi Hops as an offshoot. It is composed of three non-alcoholic, zero-calorie drinks with varying levels CBD and THC. “You get all your tropical hops notes,” Lagunitas brewer Jeremy Marshall explains. He also points out that you don’t need any other weight-bearing substances.
In addition, several major commercial breweries signaled that it is ready to jump in the cannabis beverage arena. Anheuser-Busch announced its partnership with Tilray in 2018 to create a line if non-alcoholic cannabis drinks that will be available for Canadian customers.
Molson Coors Canada teamed with Canadian marijuana producer HEXO last summer to create a new line in marijuana-infused beverages. Truss Beverages has five drinks with anywhere from 2.5mg up to 10mg THC. Each drink also contains CBD.
Truss Beverages can only be found in Canada at the moment. However, Truss Beverages will soon become available on the American markets. Molson and HEXO formed a joint venture called Truss Canada CBD USA. They are currently launching cannabis drinks in Colorado. Colorado has always been a stronghold for American pro-marijuana movements. In January, their first product, a CBD sparkling-water without THC, became accessible at selected Colorado stores.