By: Buz Deliere | December 2, 2022
After a brief foray into the world of cannabinoid-infused beverages, Molson Coors Beverage Co. has decided to pull its popular CBD sparkling water from shelves in the United States.
Veryvell, the innovative beverage brand from Molson Coors subsidiary, Truss USA just recently made an exclusive entrance into Colorado supermarkets with a range of CBD-infused flavors. Crafted using hemp-derived CBD and designed to be legally distributed across all U.S states, however in Canada, it's even available in THC.
Despite showing promise, Veryvell's progress in producing cannabis products was hindered by the lingering stigma surrounding its use. Adam Collins of Molson COORS explained that this challenge ultimately resulted in their decision to put an end to production by 2022, making it clear that cannabis still has far to go before gaining widespread acceptance and support.
With the rapidly changing cannabis landscape in America, many chain retailers and distributors have become reluctant to accept even CBD beverage brands due to uncertainty surrounding federal legalization. According to Collins, this hesitancy makes scaling tough and profitability a challenge for companies working within the industry.
The thirst for CBD or THC-infused drinks is on the rise! Manufacturers have responded to this trend by pouring huge resources into creating and providing a wide selection of these beverages, ranging from sparkling water to wine. Market analysis shows that because of this rising trend in cannabis drinks reports expects the market value to be estimated at $8.3 Billion by 2032.