Business
Updated Commentary: New Report Values the US Cannabis Drinks Market at $1.4 Billion by 2024
Updated Commentary: New Report Values the US Cannabis Drinks Market at $1.4 Billion by 2024.
About this update from American Premium Water Corporation
[{"type":"text","content":"\nNEW YORK, March 05, 2019 (GLOBE NEWSWIRE) -- OTCinsider.com News Commentary –\n A recent report by Zenith Global, a leading global food and drink consulting firm, projects that the US market for cannabis infused drinks will grow to $1.4 Billion by 2024, an almost fifteen times (15x) increase from 2018 sales of just $89million. A number of companies in the public sector have been positioning themselves to take advantage of this growing marketplace. Here are five companies that OTCInisider thinks has the best potential to grab significant market share in this sector. New Age Beverage (NASDAQ:NBEV), the US based energy and natural beverage manufacturer announced in the fall of 2018 that it was beginning to produce CBD infused beverages. At the end of 2018, NBEV launched its Noni+Collagen product, and announced that within its first two months of sales, generated over $4 million in revenue in its first two months in initial test markets. The product was created by the Company's Morinda Division and currently offers the product in 50 ml glass bottle shots, positioned as a once-daily use, sold in three 10-packs for a 30-day supply. In addition to this new product, NBEV has announced in January an agreement to sell Marley branded cannabis-infused beverages. The first product of this partnership, Marley+CBD Mellow Mood, will initially be sold in Colorado, Oregon, Washington, and Michigan, holds the potential to be one of the first globally-recognized CBD-infused relaxation drinks in the U.S. market. Canopy Growth Corporation (NYSE:CGC) a Canadian grower of Cannabis, announced in August of 2018 that it has received a $4 billion investment from Constellation Brands (NYSE:STZ), giving the Company the ammunition and support to enter into the cannabis infused beverage space. With cannabis becoming fully legal in Canada since the announced investment, and more US states becoming cannabis legal, it is only a matter of time before the Company begins producing cannabis infused beverages with and without alcohol.  And last week, the Company announced a ground-breaking  deal with Martha Stewart, who will produce pet and retail products infused with CBD and THC under her brand name. With an extensive distribution network, cannabis infused beverages from CGC will be able to scale quickly, which should lead to a significant increase...