The Popularity (and profitability) of Cannabis Grows Every Years
Beverages are a billion dollar industry, and cannabis is starting to get really popular. Cannabis beverages are becoming increasingly popular as more states legalize marijuana for recreational purposes. As of 2019, the United States has 11 states where marijuana can be sold at dispensaries or on-site at farms that grow it. The average price per gram in these states ranges from $8-$10 with an ounce averaging around $200-$300 on top of state taxes. These prices compare favorably with the price of other alcoholic drinks like beer which averages about $5 US dollars per bottle (750 ml). For comparison sake, wine varies between $6-$20 US dollars per bottle (750ml), champagne costs about $90 for 750 ml and liquor runs anywhere from $15
The Beverage Industry is Innovative and Agile
The beverage industry has been looking for more ways to make money. For instance, with the growing demand of coffee shops and restaurants, Coca Cola has come up with a new product called “Coke Plus Coffee” that combines two things that are already popular into one drink. The company’s rival is also launching an energy drink called “Pepsi Energy Java” where they combine caffeine from coffee beans along with taurine, an ingredient found in Red Bull. Other companies like Monster have created drinks specifically designed for people who want to stay awake after consuming cannabis such as their line of Monster Stash drinks which contain 150 milligrams of caffeine.
The Canadian Market Gives Us A Preview of Things to Come
Cannabis beverages have taken off in Canada where they can be sold legally, but not yet in the US. Cannabis is legal for recreational use there and therefore it makes sense that cannabis-infused drinks are popular. In contrast to America’s 11 states with legalized marijuana sales, Canada has a nationwide legalization of weed which means that any Canadian citizen over the age of 19 is allowed to purchase cannabis products from a store or dispensary just like beer or wine. This increased access has led to an increase in popularity for these types of drinks as well as other infused edibles including baked goods and candies. The average price per gram of weed in Canada is about $8 US dollars, but some companies like Canopy Growth Corp. are selling their product for as low as $5 per gram (which is still higher than the average price on the street).
The Canna+Beverage Industry Might Look A Lot Like The Alcohol Industry
Cannabis beverages are starting to take over the alcohol industry by becoming an alternative option. They come in a variety of flavors and different strengths, giving consumers more choice than they would have with beer or wine. Cannabis drinks can also be made at home with easy-to-find ingredients like weed butter and cannabis oil for those who want to make their own brews at home. You can even buy pre-made recipes online that will give you step-by-step instructions on how to make your own cannabis cocktails such as margaritas, mojitos, daiquiris and martinis.
CBD + THC In Your Beverages
Some companies are making drinks that include THC or CBD so consumers can experience different highs depending on their moods. For example, some people might feel more creative after consuming THC while others might feel more relaxed, tired or want to go to sleep after having CBD. Fusion is an innovation lab that has come up with a drink called “Canna Cola”. Theirs contains both CBD and THC along with coconut milk, cane sugar, citrus juice and vanilla extract. The company started selling their product in San Francisco, California in 2018 and it will be available to the public in 2019
Healthier Drink Options for a New Industry
The future of cannabis drinks includes healthier options like CBD-infused water that is lower in calories than soda. Companies are starting to create drinks that contain the cannabinoid CBD instead of THC for those who want to indulge, but still keep their calorie count low. This isn’t just happening in America, but around the world. For example, there’s a company called Avoca Tonic that has created their own line of cannabis-infused tonics which are great for people looking to stay hydrated and at the same time experience the relaxing effects of cannabis. The price per drink ranges from $3 US dollars to $10 US dollars depending on what varieties you want to try out.
You can also buy these drinks at dispensaries which are popping up all over the US and Canada. These drinks can be either alcoholic or non-alcoholic depending on your preferences, and stores offer a variety of soda flavorings so you can customize your drink to suit your taste buds.