NEW YORK, Aug. 13, 2019 /PRNewswire/ -- The increasing acceptance of cannabidiol or CBD has pushed the overall cannabis industry into mainstream markets. Previously, CBD was listed as a Schedule 1 drug, meaning it was among one of the most heavily regulated substances in the world. However, through extensive research, scientists have concluded that CBD can actually have medical benefits. Researchers have praised the compound for its therapeutic benefits as it can be used as an alternative to traditional medicines. Moreover, clinical trials have also concluded that CBD does not cause psychoactive effects, unlike its THC or tetrahydrocannabinol counterpart. The positive outcome from CBD trials even led the U.S. Food and Drug Administration and the U.S. Drug Enforcement Administration to delist the compound from the Schedule 1 list. Additionally, the U.S. federal government signed the Farm Bill in 2018, which caused a widespread emergence of CBD-based products in stores throughout the nation. In particular, products such as tinctures, extracts, topicals, and beverages have been well received and are popular among consumers. Specifically, infused beverages became widely popular because they introduced a new method to consume cannabis aside from smoking or vaping. With the overall decline in smoking, as well as the increase in consumers seeking functional beverages, the CBD beverage industry has positioned itself to become a thriving market. Notably, the concept of self-care is causing the CBD beverage market to witness growth because consumers can easily purchase products at local stores or even on ecommerce platforms. Moreover, consumers are looking for a more natural product rather than the current commercialized health and wellness products that are packed with chemicals. However, despite the growing popularity of CBD beverages, there are still a multitude of people that are hesitant on trying them because of the legality matter revolving around cannabis. However, as cannabis continues to push into mainstream markets, the stigma imposed on the plant will eventually diminish. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. BevCanna Enterprises Inc. BVNNF BEV, Aphria Inc. APHA APHA, Valens GroWorks Corp. VGWCF VGW, The Alkaline Water Company Inc. WTER WTER, Emerald Health Therapeutics Inc. EMHTF EMH.
Typically, CBD is being added into beverages such as water, coffee, soda, and even non-alcoholic products. These CBD beverages can then in turn be used as both medical and recreational products. For instance, recreational consumers can drink CBD beverages to simply relax. On the other hand, medical patients can consume CBD beverages to alleviate a variety of conditions such as chronic pain, anxiety, and epilepsy. Primarily, most cannabis-based beverages are created by mixing a tincture into a liquid. However, consuming CBD products is much more difficult compared to applying topicals, which directly sends CBD into skin tissues. A tincture is similar to other liquids or foods, as most of it is metabolized in the intestines and stomach. By the end, the intestines and the stomach will have broken down most of the CBD content before the body can absorb any, according to Dr. Yasmin Hurd, a professor of neuroscience, pharmacological sciences and psychiatry at New York City's Icahn School of Medicine at Mount Sinai. Despite the solubility issues regarding beverage products, it is still positioned to become one of the largest segments in the broad cannabis market. As a result, many companies dabbling in the beverage industry are searching for the most effective way to dissolve CBD into the human body. "Everyone in the industry recognizes that CBD-infused beverages are going to be one of the largest category opportunities in all of CBD," said Ben Witte, the Founder and Chief Executive Officer of Recess, a company producing CBD-infused sparkling water. "As a result of that, a lot of the suppliers in the supply chain have innovated to create a format that is soluble in beverages."
BevCanna Enterprises Inc. BVNNF BEV is also listed on the Canadian Securities Exchange under the ticker BEV. Yesterday, the Company announced that, "the debut of its latest cannabis infused brand, Grüv Beverages™.
The Grüv Beverages brand represents an easy-drinking range of cannabis-infused iced tea beverages.
Formulated for wide appeal, Grüv helps you relax, unwind and quench your thirst after a day in the sun, playing in the garden, at the office, or the water's edge. Enjoying a Grüv allows you to experience the vibrant energy that surrounds us and become immersed in the easy-going rhythm of a beautiful day.
The brand embodies the delight we have in connecting with others and ourselves. It sets the pace for reveling in the moment. It's a lively and approachable brand – grooving to the music of life.
The Grüv Beverages range of iced tea products was developed in response to BevCanna's recently completed extensive North American-wide consumer study, which focused on product and consumption preferences within the cannabis-infused beverage market.
"Iced tea was among the top five performing concepts, among 25 product concepts tested," said Emma Andrews, Chief Commercialization Officer at BevCanna. "We are also choosing to launch this brand with a balanced THC and CBD profile (1:1 ratio), in order to provide consumers with a mild, yet effective cannabis experience."
Grüv Beverages will be one of the first brands launched by BevCanna in the U.S., and in Canada following the legalization of infused products in Oct 2019. The Company will commercialize a 375ml ready-to-drink beverage, with 5mg of THC & 5mg of CBD infused in an alkaline spring water base. The innovation pipeline also includes powdered drink mixes.
Get in the Grüv.
About BevCanna: BevCanna Enterprises Inc. BEV plans to develop and manufacture cannabinoid-infused beverages and consumer products for in-house brands and white label clients. With decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale, the team demonstrates an expertise unmatched in the emerging cannabis beverage category. Based in British Columbia, Canada, BevCanna has a 100-acre outdoor cultivation site in the fertile Okanagan Valley and the exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a current bottling capacity of up to 72M bottles per shift/per annum. BevCanna's vision is to be a global leader in infused innovations."
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Aphria Inc. APHA APHA is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Aphria Inc., through its subsidiary Aphria Deutschland GmbH ("Aphria Germany"), recently launched the Company's first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market. Featuring CBD derived from hemp, the CannRelief brand of products are being produced in the European Union and distributed by the Company's subsidiary, CC Pharma, which has access to more than 13,000 pharmacies throughout Germany. "We are excited to introduce our first brand of CBD products for the German nutraceutical and cosmetics market," said Jakob Ripshtein, President of Aphria. "Supported by our extensive distribution network through CC Pharma, CannRelief provides a natural extension to Aphria's growing business opportunities in the German medical cannabis market. We look forward to providing a full range of CannRelief CBD products this year."
Valens GroWorks Corp. VGWCF VGW is a vertically integrated provider of Canadian cannabis products developed from our proprietary extraction techniques, with three wholly-owned subsidiaries located in and around Kelowna, BC. Valens GroWorks Corp. announced last year that it has signed a two-part, multi-year agreement with Tarukino Holdings, Inc. The agreement allows Valens to further expand on its product and service offerings to compliment the extraction market while also securing a strong foothold in the developing Canadian cannabis-infused beverage, edible and topical categories. Under the agreement, Tarukino grants Valens the exclusive Canadian rights to the production and distribution of its proprietary emulsion technology that transforms cannabis oil and oil-based terpenes into water-soluble forms for use in beverages, edibles, topicals and other consumer products. This technology, better known in the industry as SōRSE™, allows cannabis infused products to maintain potency when heated, chilled or frozen, and removes all cannabis taste and smell, enabling Valens to develop their own innovative self branded products while making SōRSE™ directly available to the Canadian market. "One of the many key benefits of utilizing "SōRSE™ technology in edibles and infused beverages includes being able to dramatically decrease the time for onset and how long it lasts after consumption. This will improve the experience for our consumers and ultimately paves the path for how we believe cannabis will be consumed in the future," said Tyler Robson, Chief Executive Officer, Valens GroWorks.
The Alkaline Water Company Inc. WTER WTER is a leading producer of premium bottled alkaline drinking water sold under the brand name Alkaline88®. The Alkaline Water Company Inc. recently announced the launch of its new canned product line, featuring Alkaline88® in 16oz aluminum cans, available in Alkaline88® water, four all-natural flavored waters, and three all-natural flavored Cannabidiol ("CBD") infused waters. As demand for canned products is steadily increasing, the Company continues to innovate and add to its unparalleled product suite to provide consumers with a variety of products. Consumers will be able to purchase Alkaline88® water in a convenient canned format, along with the Company's flavor-infused waters and flavored CBD infused waters. The Company expects to bring its new product line to market by Q1 of calendar year 2020. "We are thrilled to announce the launch of our highly anticipated canned product line. Based on the national success of Alkaline88® and our recent debut of our bottled flavor infused Alkaline88, expanding into the canned market is a logical next step to continue to expand our growing brand portfolio," stated Richard A. Wright, President and Chief Executive Officer of The Alkaline Water Company Inc. "Consumer demand for canned beverages continues to grow, with the global beverage can market estimated to reach USD USD 60.92 Billion by 2024 according to Grand View Research. We expect to capitalize on this growth through our new canned product offerings and use them as an additional in-road into the convenience store market which has a large emphasis on canned products," concluded Wright.
Emerald Health Therapeutics Inc. EMHTF EMH is a Canadian licensed producer of cannabis. Emerald Health Therapeutics, Inc. recently reported that it has expanded its agreement to purchase harvested hemp flower and leaf, or hemp chaff, from Emerald Health Hemp Inc. from 1,000 to 1,200 acres for 2019. EHH is a wholly-owned subsidiary of Emerald Health Sciences Inc. and a related party of Emerald. Based on last year's harvest, Emerald expects production from the 1,200 acres to be at least 270,000 kg of hemp chaff in 2019 with, conservatively, approximately 2% cannabidiol ("CBD") content. Emerald estimates that this hemp may yield 3,500 kg of extracted CBD, which it plans to use to manufacture premium oils, softgels and associated value-added products for Canadian adult-use and medical consumers. Emerald intends that the past and future harvested hemp will be processed through extraction, with some also going through gel encapsulation, in the Factors Group manufacturing facility in Kelowna, BC. With the support of Emerald, the Factors Group expects to complete final construction on the retrofitting and segmentation of its proposed processing facility in the coming weeks and plans to submit its final evidence package to Health Canada for review and approval shortly thereafter. This operating facility is estimated to have annual extraction capacity of up to one million kg of biomass and can produce up to 600 million CBD softgel capsules per year. "CBD, despite being non-psychoactive, currently cannot legally be added to food, beverage or dietary supplement products under US Food & Drug Administration ("FDA") rules. However, with the FDA's recent initiation of its CBD policy review, we believe there is potential that in time federal US rules will permit CBD-infused products," said Allan Rewak, VP Communications and Stakeholder Relations. "Emerald intends to maximize every opportunity that becomes allowable."
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