Canaccord Genuity predicts that cannabis-infused beverages could become a $600 million market in the United States (US) by 2022.
That’s why beverage giants like Coca-Cola are looking to enter the market.
The analysts from Canaccord say that cannabidiol (CBD) beverages could become a $260 million market by 2022, and tetrahydrocannabinol (THC) beverages could hit $340 million.
CBD and THC are both compounds of cannabis. The most significant difference between the two is that CBD is non-psychoactive, meaning it does not get you high while THC does.
CBD-infused beverages and products are gaining popularity because they provide the therapeutic benefits of cannabis without getting you high.
“While these trends represent a significant opportunity for US cannabis companies, they have not gone unnoticed by large mainstream beverage players looking to inject growth into their product portfolio,” Canaccord’s Bobby Burleson and Jonathan DeCourcey wrote, according to a Business Insider article.
Just recently, Chemesis International Inc. announced that it will enter the cannabis-infused beverage market soon.
Chemesis is a leader in the cannabis industry and currently operates in Puerto Rico and California. The company cultivates, manufactures, distributes, and retails cannabis products.
The company’s current licenses and facilities will help it establish itself in the beverage market quickly.