The legalization process of marijuana in Canada is not only good news for medical and recreational users, it has also opened a wide market with a lot of opportunities for business and brands. In the beginning of this month, Molson Coors Brewing Co. announced its Canadian unit is entering into a deal that will develop cannabis-infused beverages in Canada.
With a lot of experience in the brewing business, The Molson Coors Brewing Company was formed in 2005 by the merger of Molson of Canada, and Coors of the United States. It is the world’s seventh largest brewer by volume. Today, some of their most famous beers around the world are: Blue Moon, Barmen and Carling.
A great new business
According to their official statement, the new company will combine the proven beverage experience of Molson Coors Brewing Company with a recognized innovator in the fast-growing cannabis sector to explore the soon to be open cannabis market in Canada.
Partnering with The Hydropothecary Corporation (HEXO) a leading Canadian cannabis producer, the idea is to offer Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages.
According to source familiar with Molson Coors, they’re more interested in marijuana that has a fast reaction and can imitate the experience of drinking a beer or two in 15 to 20 minutes.
In this partnership, Molson Coors Canada will have a 57.5 percent controlling interest and HEXO will control the remainder.
Experiences around the world
Marijuana infused drinks are great for those who want another option to get the benefits of weed without smoking it. Cannabis infused drinks are great way to enjoy the benefits of marijuana and keep the body hydrated. These drinks are also a great option for those who are trying to cut down on their alcohol consumption but still want to drink socially.
Other benefits about consuming marijuana infused drinks is the ability to enjoy it anywhere without the stigma related to smoking.
This deal between Molson and HEXO shows up when companies are starting to look up to the cannabis business space. According to Bloomberg, 2018 soda sales have hit a 30-year low as consumers are looking for healthier drinks. Meanwhile, cannabis beverage sales across California, Colorado, Oregon, and Washington, hit US$35.6 million in 2017, experiencing a significant rise.
Infused drinks beverages are just a piece of the cake, companies in the cannabis industry are trying a lot of options, from non-alcoholic wine infused with THC to THC cold brew coffee.
In the US, Lagunitas, a California based brewery owned by Heineken, also joint the business with the launch of Hi-Fi Hops sparkling water. In an official statement, Lagunitas calls Hi-Fi Hops “an IPA-inspired sparkling water in two versions, the first made by infusing THC and the second by infusing THC and CBD.” (THC is the one that produces “high,” and CBD produces a physical sensation of relaxation.)
As another example, alcohol brand Constellation Brands Inc., widely known by Corona beer, bought a stake in Canadian pot producer Canopy Growth Corp. in 2017, and cigarette maker Imperial Brands Plc last July took an equity stake in closely held Oxford Cannabinoid Technologies.
Expectations
According to Mark Hunter, Molson Coors Brewing CEO; the Canadian partnership is an opportunity “to incubate and test” products for other markets, including the U.S.
This year, on October 17th cannabis is set to be legalized in Canada, however, cannabis-infused edibles and beverages won’t immediately be available, there’s some legal process in the middle. Molson Coors expects cannabis beverages to be legal by 2019.
According to the consulting firm Deloitte expects the Canadian cannabis market to exceed $4.34 billion in sales by 2019.
Marijuana infused drinks seems to be the way for new business, not just for recreational use but for medical use too. Right now is a great opportunity for big companies, which experience could open the path for small entrepreneurs.
Molson Canadian to develop weed beer
The legalization process of marijuana in Canada is not only good news for medical and recreational users, it has also opened a wide market with a lot of opportunities for business and brands. In the beginning of this month, Molson Coors Brewing Co. announced its Canadian unit is entering into a deal that will develop cannabis-infused beverages in Canada.
With a lot of experience in the brewing business, The Molson Coors Brewing Company was formed in 2005 by the merger of Molson of Canada, and Coors of the United States. It is the world’s seventh largest brewer by volume. Today, some of their most famous beers around the world are: Blue Moon, Barmen and Carling.
A great new business
According to their official statement, the new company will combine the proven beverage experience of Molson Coors Brewing Company with a recognized innovator in the fast-growing cannabis sector to explore the soon to be open cannabis market in Canada.
Partnering with The Hydropothecary Corporation (HEXO) a leading Canadian cannabis producer, the idea is to offer Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages.
According to source familiar with Molson Coors, they’re more interested in marijuana that has a fast reaction and can imitate the experience of drinking a beer or two in 15 to 20 minutes.
In this partnership, Molson Coors Canada will have a 57.5 percent controlling interest and HEXO will control the remainder.
Experiences around the world
Marijuana infused drinks are great for those who want another option to get the benefits of weed without smoking it. Cannabis infused drinks are great way to enjoy the benefits of marijuana and keep the body hydrated. These drinks are also a great option for those who are trying to cut down on their alcohol consumption but still want to drink socially.
Other benefits about consuming marijuana infused drinks is the ability to enjoy it anywhere without the stigma related to smoking.
This deal between Molson and HEXO shows up when companies are starting to look up to the cannabis business space. According to Bloomberg, 2018 soda sales have hit a 30-year low as consumers are looking for healthier drinks. Meanwhile, cannabis beverage sales across California, Colorado, Oregon, and Washington, hit US$35.6 million in 2017, experiencing a significant rise.
Infused drinks beverages are just a piece of the cake, companies in the cannabis industry are trying a lot of options, from non-alcoholic wine infused with THC to THC cold brew coffee.
In the US, Lagunitas, a California based brewery owned by Heineken, also joint the business with the launch of Hi-Fi Hops sparkling water. In an official statement, Lagunitas calls Hi-Fi Hops “an IPA-inspired sparkling water in two versions, the first made by infusing THC and the second by infusing THC and CBD.” (THC is the one that produces “high,” and CBD produces a physical sensation of relaxation.)
As another example, alcohol brand Constellation Brands Inc., widely known by Corona beer, bought a stake in Canadian pot producer Canopy Growth Corp. in 2017, and cigarette maker Imperial Brands Plc last July took an equity stake in closely held Oxford Cannabinoid Technologies.
Expectations
According to Mark Hunter, Molson Coors Brewing CEO; the Canadian partnership is an opportunity “to incubate and test” products for other markets, including the U.S.
This year, on October 17th cannabis is set to be legalized in Canada, however, cannabis-infused edibles and beverages won’t immediately be available, there’s some legal process in the middle. Molson Coors expects cannabis beverages to be legal by 2019.
According to the consulting firm Deloitte expects the Canadian cannabis market to exceed $4.34 billion in sales by 2019.
Marijuana infused drinks seems to be the way for new business, not just for recreational use but for medical use too. Right now is a great opportunity for big companies, which experience could open the path for small entrepreneurs.
