Author: Benjamin Dreiker
June 29, 2020
I think it is safe to say that 2020 has been quite the year of agitation and instability for most of the global community, due mostly in part to the Coronavirus pandemic. Even here in the United States, we are continuing to see a steady rise in cases daily. It appears that most individuals are coping with their anxiety by turning to cannabis as a source of relief. Consumer demand for cannabis has increased across the board in Massachusetts. In a Boston Globe article, Massachusetts medical marijuana registrations have spiked to 245 percent. As cannabis businesses become increasingly aware of consumer demand for marijuana new cannabis marketing tactics have emerged.
As of recently, cannabis companies have been manufacturing cannabis beverages. Cannabis beverages are a separate category of cannabinoid-based products from cannabis flower, concentrates, or edibles. Cannabis beverages are essentially cannabis-infused drinks that individuals consume instead of smoking cannabis or eating cannabis-infused edibles.
According to a report published by Prohibition Partners, the global cannabis beverage market has seen a drastic increase in consumer demand. The report predicts, “the global cannabis drinks market will be worth $1.82 billion by the end of the year.”The increased demand is likely driven in part by the Coronavirus pandemic. Since Coronavirus is a respiratory illness, individual consumers have started to move away from smoking or vaping cannabinoid products and have moved toward ingestible products such as cannabis-infused drinks.
According to Stephen Murphy, the Managing Director Prohibition Partners, “The emerging cannabis drink market is one of the most exciting sectors within the beverage industry; cannabis infusion will truly disrupt the drink market and become a highly lucrative source of revenue for those who embrace it.” That being said, it should be duly noted that an increase in cannabis-infused beverages may lead to a rise in abuse in the cannabis product. According to Dr. David Jernigan, he warns that a spike in alcohol abuse disorders is well on the rise as a result of stress-drinking. However, the article notes, “we live in a society that loves drinks. Infused beverages are attractive to the consumer because the consumption process is so familiar. Now available in low-dose options, consumers can have a sessionable experience in a social setting much like alcohol, but without the hangover. Within the category, there are also many more options to choose from. Whether you’re looking for infused coffee, cannabis-infused wine, or a cannabis sparkling seltzer, there’s something for everyone”. Many individuals may use cannabis-infused beverages to supplement alcohol and as such cannabis-infused beverages could be used as an alternative to using alcohol and potentially help lessen the toxic impact of alcohol abuse.
The cannabis industry has experienced the most economic growth due to its expansion into other cannabis commodities. Cannabis is enduring amid a global pandemic because individuals are seeking an alternative means to reduce their stress. This is allowing cannabis companies to expanding into the beverage market to reach these consumer demands. It is predicted that we will see enormous growth in the cannabis-infused beverage sector this summer. “After all, it’s bound to happen, we have been imbibing/socializing with drinks for centuries, it’s just time to imbibe with a different vibe.”
Photo Credit: House of Saka