The increasing acceptance of cannabidiol or CBD has pushed the overall cannabis industry into mainstream markets.
Previously, CBD was listed as a Schedule 1 drug, meaning it was among one of the most heavily regulated substances in the world.
However, through extensive research, scientists have concluded that CBD can actually have medical benefits. Researchers have praised the compound for its therapeutic benefits as it can be used as an alternative to traditional medicines.
Moreover, clinical trials have also concluded that CBD does not cause psychoactive effects, unlike its THC or tetrahydrocannabinol counterpart. The positive outcome from CBD trials even led the U.S. Food and Drug Administration and the U.S. Drug Enforcement Administration to delist the compound from the Schedule 1 list.
Additionally, the U.S. federal government signed the Farm Bill in 2018, which caused a widespread emergence of CBD-based products in stores throughout the nation. In particular, products such as tinctures, extracts, topicals, and beverages have been well received and are popular among consumers. Specifically, infused beverages became widely popular because they introduced a new method to consume cannabis aside from smoking or vaping. With the overall decline in smoking, as well as the increase in consumers seeking functional beverages, the CBD beverage industry has positioned itself to become a thriving market. Notably, the concept of self-care is causing the CBD beverage market to witness growth because consumers can easily purchase products at local stores or even on ecommerce platforms.
Moreover, consumers are looking for a more natural product rather than the current commercialized health and wellness products that are packed with chemicals. However, despite the growing popularity of CBD beverages, there are still a multitude of people that are hesitant on trying them because of the legality matter revolving around cannabis. However, as cannabis continues to push into mainstream markets, the stigma imposed on the plant will eventually diminish. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. BevCanna Enterprises Inc. (OTC: BVNNF) (CSE: BEV), Aphria Inc. (NYSE: APHA) (TSX: APHA), Valens GroWorks Corp. (OTC: VGWCF) (TSX-V: VGW), The Alkaline Water Company Inc. (NASDAQ: WTER) (TSX-V: WTER), Emerald Health Therapeutics Inc. (OTC: EMHTF) (TSX-V: EMH).
Typically, CBD is being added into beverages such as water, coffee, soda, and even non-alcoholic products. These CBD beverages can then in turn be used as both medical and recreational products. For instance, recreational consumers can drink CBD beverages to simply relax. On the other hand, medical patients can consume CBD beverages to alleviate a variety of conditions such as chronic pain, anxiety, and epilepsy. Primarily, most cannabis-based beverages are created by mixing a tincture into a liquid. However, consuming CBD products is much more difficult compared to applying topicals, which directly sends CBD into skin tissues. A tincture is similar to other liquids or foods, as most of it is metabolized in the intestines and stomach. By the end, the intestines and the stomach will have broken down most of the CBD content before the body can absorb any, according to Dr. Yasmin Hurd, a professor of neuroscience, pharmacological sciences and psychiatry at New York City’s Icahn School of Medicine at Mount Sinai. Despite the solubility issues regarding beverage products, it is still positioned to become one of the largest segments in the broad cannabis market. As a result, many companies dabbling in the beverage industry are searching for the most effective way to dissolve CBD into the human body. “Everyone in the industry recognizes that CBD-infused beverages are going to be one of the largest category opportunities in all of CBD,” said Ben Witte, the Founder and Chief Executive Officer of Recess, a company producing CBD-infused sparkling water. “As a result of that, a lot of the suppliers in the supply chain have innovated to create a format that is soluble in beverages.”
BevCanna Enterprises Inc. (OTC: BVNNF) (CSE: BEV) is also listed on the Canadian Securities Exchange under the ticker (CSE: BEV). Yesterday, the Company announced that, “the debut of its latest cannabis infused brand, Grüv Beverages™.
The Grüv Beverages brand represents an easy-drinking range of cannabis-infused iced tea beverages.
Formulated for wide appeal, Grüv helps you relax, unwind and quench your thirst after a day in the sun, playing in the garden, at the office, or the water’s edge. Enjoying a Grüv allows you to experience the vibrant energy that surrounds us and become immersed in the easy-going rhythm of a beautiful day.
The brand embodies the delight we have in connecting with others and ourselves. It sets the pace for reveling in the moment. It’s a lively and approachable brand – grooving to the music of life.
The Grüv Beverages range of iced tea products was developed in response to BevCanna’s recently completed extensive North American-wide consumer study, which focused on product and consumption preferences within the cannabis-infused beverage market.
“Iced tea was among the top five performing concepts, among 25 product concepts tested,” said Emma Andrews, Chief Commercialization Officer at BevCanna. “We are also choosing to launch this brand with a balanced THC and CBD profile (1:1 ratio), in order to provide consumers with a mild, yet effective cannabis experience.”
Grüv Beverages will be one of the first brands launched by BevCanna in the U.S., and in Canada following the legalization of infused products in Oct 2019. The Company will commercialize a 375ml ready-to-drink beverage, with 5mg of THC & 5mg of CBD infused in an alkaline spring water base. The innovation pipeline also includes powdered drink mixes.
Get in the Grüv.
About BevCanna: BevCanna Enterprises Inc. (CSE: BEV) plans to develop and manufacture cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 100-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles per shift/per annum. BevCanna’s vision is to be a global leader in infused innovations.”