Big Beverage Companies Ready to Enter the Cannabis Arena
As we’ve reported previously, legalized cannabis is taking a bite out of the alcoholic beverage industry. While alcohol sales in legal marijuana states have dropped 15% since 2006, cannabis sales brought the industry about $10 billion, last year alone. So, as reported by The Spokesman-Review, some leading beverage companies have taken an if-you-can’t-beat-‘em-join-‘em approach to the issue.
The article highlights five large beverage companies that have indicated they’ll be players in the cannabis game. Among them are Molson Coors, Anheuser-Busch, Constellation Brands (Corona, Modelo), Heineken, and of course, Coca Cola.
Coca Cola specifically has expressed interest in introducing CBD-infused products, while the other brands are mostly looking at rolling out non-alcoholic, THC-infused beers. Heineken, for one, has already launched a THC “beer” in Colorado and California.