- EMR report projects that North America is likely to be fastest, largest marketplace for cannabis beverages
- Cannabis beverage industry projected to grow at CAGR of 48% in the next five years, reaching an anticipated $12.7 billion by 2026
- BevCanna manufactures its own beverage product lines, offers white-label services to companies looking for the highest-quality products available
North America will be a leader in the global cannabis beverage market, according to a recent Expert Market Research (“EMR”) report (https://cnw.fm/KFpSc). This projection bodes well for BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health & wellness beverage and natural products company developing and manufacturing a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
“North America is likely to be the fastest and largest marketplace for cannabis beverages,” the EMR report stated. “The legalization of cannabis for medical, therapeutic and recreational purposes is driving the growth of the market. In 2018, Canada legalized the utilization of marijuana for recreational and medical purposes. Various states in the U.S. have made the addition of cannabis infusion legal in food and beverages. This factor is predicted to spice up the expansion of the cannabis food and beverage market in North America.”
EMR went on to note that worldwide, the cannabis beverage industry is expected to grow at a CAGR of 48% in the next five years, reaching an anticipated $12.7 billion by 2026.
The report noted that increasing demand for wellness beverages is expected to drive the expansion of the cannabis beverages industry. Other drivers behind the market growth include the lower sugar content of the product, the presence of consistently dosed amount of cannabis for consumption, the legalization of marijuana consumption for medical and recreational purposes in many countries, and the growing consumer interest in cannabis edibles.
“Cannabis consumers are shifting their interest from smoking cannabis to other ways, like beverages, tinctures, chocolates, and other edibles,” the report noted. “Consumers are willing to consume concentrated and cannabis-infused products, which successively is anticipated to support the market growth. Cannabis beverages are predicted to exchange other marijuana-infused consumables, like chocolates, cookies, brownies, and confectionaries like gummies and candies which are considered to be not healthy. This factor is predicted to spice up the demand for cannabis drinks over the forecasted period.”
Ideally situated in this booming space, BevCanna is in a position to leverage its state-of-the-art facilities and expertise to manufacture its own beverage product lines and to provide white label solutions to a growing list of third-party companies.
For more information, visit the company’s website at www.BevCanna.com.
NOTE TO INVESTORS: The latest news and updates relating to BVNNF are available in the company’s newsroom at http://cnw.fm/BVNNF
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