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Cannabis-Infused Drinks Will Be the Next Billion-Dollar Industry and These Companies Are In The Mix

Baystreet.ca

The newly legal Canadian cannabis market is a rapidly-developing frontier that analysts unanimously expect to become the next major industry. While smoking, vaping, and ingesting edibles have traditionally been the most popular way of consuming cannabis, these methods are not expected to be the future of the market. Brett Vye, CEO of the newly formed Truss, believes that cannabis-infused beverages will make up 20 to 30 percent of the sector, and Deloitte predicts that the market will be worth $529 million annually in Canada alone. In the United States, a Zenith Global report projects that the market for cannabis-infused drinks will grow from $89 million in 2018 to $1.4 billion by 2024. The following year, the worldwide market value will surpass $4.4 billion according to a report from Zion Market Research. As demand for cannabis-infused beverages takes off, the companies that are already well-positioned to be first movers in the nascent market—companies like Bevcanna Enterprises Inc. (CSE:BEV), Sproutly Canada (CSE:SPR) (OTCQB:SRUTF), HEXO Corp. (TSX:HEXO) (NYSE:HEXO), ... Click here to view full article