Just about two years ago, we began seeing alternative alcoholic drinks emerging as a new category in the beverage industry. Alcoholic seltzers like Truly from the Boston Beer Company (SAM) and White Claw became an instant hit and took the world by storm.
But last year, on the heels of unprecedented demand from consumers to have more low-calorie, low-sugar, health-conscious options for alcohol during the pandemic, the segment exploded. We saw an endless product launches in the growing alternative-beverage category from several of the industry’s biggest names, including Coca-Cola (KO), Constellation Brands (CTZ) and Anheuser-Busch (BUD).
And now, for those looking to take the edge off, but don’t want to light up a joint or chew a gummy, Canopy Growth (CGC) has the answer!
The company just launched its pot-infused Quatreau beverage line in the United States on Tuesday, as it seeks to secure a firm footing in the country’s rapidly growing cannabis market ahead of expected reforms under President Joe Biden.
After years of oversupply woes in Canada, pot producers are banking on the much larger U.S. market opening up soon as leading Democrats lend support to laws allowing easier banking access, decriminalization of marijuana and other favorable changes.
Canopy President and Chief Product Officer Rade Kovacevic said the U.S. market was currently fragmented, presenting an opportunity for a larger company to scale up in the region.
The Quatreau line of sparkling waters, which come in four variants, will be available for online sales in U.S. states that permit consumption of cannabidiol (CBD). But take note, this isn’t the part of the plant that gets you high, that’s THC, but rather a non-psychoactive compound derived mainly from the hemp plant, which is being researched for various medical applications and has found increased use as a relaxative.