HOUSTON, TX / ACCESSWIRE / January 17, 2019 / The cannabis-beverage story is growing like a weed.
So much so, the infused beverage market could explode to $600 million by 2022, note analysts at Canaccord Genuity. The firm estimates CBD beverages will become a $260 million market, as the THC beverage market quickly becomes a $340 million market.
In fact, big beverage makers have already taken notice of the potential.
Anheuser-Busch, for example announced a $100 million deal with Canadian medical marijuana company, Tilray Inc. to research drinks infused with cannabis. New Age Beverages Corporation just announced an agreement to develop and distribute Bob Marley-branded CBD-infused beverages. The Coca-Cola Co. said may enter the CBD market, too.
But that's just the start. Other top companies to watch in the cannabis-infused beverage market, include The Yield Growth Corporation (CSE: BOSS) (OTCQB: BOSQF), HEXO Corporation (CSE: HEXO) (OTC: HYYDF), and Canopy Growth Corporation (NYSE: CGC).
The Yield Growth Corporation's (BOSS) (BOSQF) hemp-based wellness brands are already disrupting wellness, makeup leisure, and now the cannabis-infused beverage market. In fact, the company just signed an agreement to acquire eight wellness beverage formulas infused with CBD and THC, incorporating botanicals, fruit, extracts, and spices for anti-oxidant, anti-inflammatory, energy, brain health, immune system, and anxiety purposes.
At the moment, The Yield Growth subsidiaries are developing and manufacturing a wide range of other personal care products containing hemp root oil and various cannabinoids. In addition, The Yield Growth is currently seeking to obtain necessary licenses to process cannabis and manufacture cannabis products in multiple jurisdictions where such products can be sold.
Canopy Growth (CGC) attracted interest from Constellation Brands, as well.
In fact, Constellation increased its stake in Canopy Growth by $4 billion. Constellation's investment in Canopy -- the biggest known deal in the marijuana industry -- shows just how far traditional alcoholic beverage companies are willing to go to find growth.
“We believe the emerging cannabis space represents one of the most significant global growth opportunities of the next decade, and frankly, our life time," said CEO Bill Newlands. "An opportunity that is opening up much more rapidly than originally anticipated."
HEXO Corporation (HEXO) is in a joint venture with heavyweight, Molson Coors to create non-alcoholic, cannabis-infused drinks, as well.
"Canada is breaking new ground in the cannabis sector and, as one of the country's leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment," said Frederic Landtmeters, president and CEO of Molson Coors Canada.
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