Some huge numbers are coming from the youngest marijuana market in the country: beverages.
It seems the canned beverage has become the mode of choice for a good amount of marijuana consumers out there.
Last year, the entire beverage market reached over $1 billion. Some of the biggest companies made over $10 million just by themselves. There are more than 750 brands in the space.
And what’s even more promising is that this number just keeps growing. As of now, the market potential is between $9.9 and $14.9 billion, according to MJBizDaily, . So this market is only just getting started.
The beverage market is in an odd position. The lack of regulation makes sellers a little uncertain as to how to move forward. Alcohol is clearly the model to follow, but the regulations in alcohol are extremely steep compared to the state-dependent rules in marijuana. Plus, there’s the feeling of upcoming change, with a potential federal schedule change on the horizon.
Beverages are only fully legal in 28 states. That’s leaving a large swatch of the market uncracked at this point. It’ll be interesting to see how far canned THC can reach in the years to come.
Read the original article at MJBizDaily.
