The funding comes on the heels of a record year in sales, up 2.6 times in 2021 what they were the previous year. And last month, one of the newest players in the cannabis beverage industry, Cann, raised $27 million in venture capital funding, along with investments from a number of celebrities including Adam Devine, Nina Dobrev, and Rosario Dawson. Last June, The Alkaline Water Company released its line of CBD Water that contains 20 mg of CBD in a 16.9-ounce bottle. Lagunitas, Heineken’s fast-growing California beer label, launched a CBD- and THC-infused sparkling water called Hi-Fi Hops in 2018 that gets you high with 10 mg of THC in a 12-ounce drink, or a more mellow option of 5 mg each of CBD and THC. The market is dominated by nonalcoholic refreshments. It comes in three flavors and boasts zero calories and an onset time of 20 minutes. The 8.4-ounce drink comes in a pack of four for $20, which contains 2.5 milligrams each of THC and CBD per can. “We just released these last week and they seem to be moving fairly well,” she says of a new product from Wynk, a THC-infused flavored seltzer. But she has noticed a growing interest in consuming cannabis in liquid form. While only 5 percent of those dollars are spent on beverages, the reduction in market share for bud is being replaced in part by cannabis-infused beverages, marking a shift in consumer interest.Ĭrystal Romero, who works at Harvest HOC of North Mesa dispensary, says that cannabis-infused beverages account for about 1 to 2 percent of daily sales there. “While flower is the largest category in Arizona, market share has decreased from 52.6 percent in January to 44.9 percent in September,” concludes a 2021 Arizona marijuana market-share report by Headset, a cannabis consumer trends and market intelligence site.īDSA, a market research center with expertise in the legal cannabis market, cites a 24 percent growth in sales for edibles across the country from 2019 to 2020. Other retailers such as supermarkets, convenience stores, and smoke shops will sell strictly CBD-infused beverages, which are generally considered safe for consumption for all ages. Most beverages sold in dispensaries will contain some form of THC, the psychoactive ingredient that differs from the hemp-derived CBD. The marijuana beverage market is segmented into cannabidiol (CBD) and tetrahydrocannabinol (THC) infusion. The surge in cannabis-infused beverage sales is fueled by growing consumer demand for wellness drinks, alternative ways to consume cannabis, and an influx of investment from beverage manufacturers looking to capitalize on the greater accessibility of cannabis. Brands boast of low-sugar content and antimicrobial properties, expanding their market share in the diverse world of wellness drinks, with no signs of stopping.Īccording to a 2020 report by Grand View Research, a market research and consulting firm headquartered in San Francisco, the global cannabis beverage market size was valued at $901.8 million in 2018 and is expected to expand to a whopping $2.84 billion in 2025 at a compound annual growth rate (CAGR) of 17.8 percent. One wellness beverage that has been gaining popularity is cannabis-infused. Kombucha, nitro coffee, matcha, and seltzers line the freezer in neat colorful order ready for your choosing.
Harvest HOC does also offer a point system on purchases that you can use towards future purchases.Take a stroll past the drink freezers at the grocery store and gawk at the endless selection of wellness beverages. If you visit a dispensary, I always recommend bringing cash with you but if you forget or come up short they have an ATM available on site. The interior of the store however was very impressive and the employees were nice and answered all my questions.
The parking lot was in bad shape, had no parking lane lines and at best 15 spots to park. This Harvest HOC is located on the corner of Alma School and McLellan. Low and behold the deals they were offering turned out to be bad (just my opinion) and I left the store without making a purchase or grabbing swag. I saw they were advertising "great door buster deals" for the grand opening of this location (without actually saying what the deals were ) so I figured I would give them another try. I use to be a big fan of Harvest HOC but stopped visiting since the deals they offered lacked in comparison to other dispensaries in the area.
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