In the very near future, when you grab an adult beverage from your fridge, it might not contain any alcohol. Are you ready for the next big thing?
Legal cannabis provides a huge opportunity to reshape the consumer beverage industry, according to Cannabiz Consumer Group (C2G). And no wonder. The entire beverage industry generates roughly $1.5 trillion for the American economy. But manufacturers are getting wise to the consumer trend of healthier alternatives to traditional sugary sodas.
Although cannabis-infused drinks make up less than 20 percent of cannabis products sold in adult-use cannabis markets and account for an even smaller percentage of total sales dollars, the format is predicted to grow. Major growth catalysts for the rise of cannabis-infused drinks, especially among older-adults and cannabis novices, are the absence of inhaling smoke or vapor, and if desired, even the “high” itself. Cannabiz Consumer Group projects that in a full-national recreational cannabis marketplace, infused-beverages could produce annual revenues of nearly $15 billion dollars, comparable to retail coffee sales and double the size of the energy drinks market.
“Although most believe that the alcoholic beverage industry will lead the charge into the cannabis beverage space, our opinion is that the ultimate winners will be the non-alcoholic beverage manufacturers,” said Rick Maturo, chief product officer at C2G. [Read more at The French Toast]