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GNCP - Infused Drinks Create a New Dimension to the Cannabis Market
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Published: Aug 12, 2019 9:00 a.m. ET

https://www.marketwatch.com/press-release/infused-drinks-create-a-new-dimension-to-the-cannabis-market-2019-08-12?siteid=nbkh

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NEW YORK, Aug. 12, 2019 /PRNewswire/ -- Most people generally associate cannabis with smoking, however, the infused edible and beverage industry has become one of the fastest-growing market segments. Typically, cannabis-infused products are created using an extract that is mixed into the end-product. For instance, producers use solvents such as heat and pressure or CO2 to extract oil from dried cannabis flowers. Afterward, the extracted oil can be used as a baking ingredient in edibles. On the other hand, beverages can also use oil, while some producers use activated ground cannabis or tinctures. A variety of beverage producers are now even infusing CBD and THC into sodas, tea, functional drinks, and even alcohol. Overall, the THC content in infused beverages can range anywhere from minuscule doses of 2.5 milligrams to as much as 100 milligrams per container. The smaller dosage of THC, along with a mixture of CBD, can be used for health and wellness purposes. However, a higher and more concentrated dosage can cause mind-altering effects and would be geared more towards frequent recreational users. And with the rapid growth of the infused beverage market, many large corporations are beginning to explore opportunities within the market. Generally, as consumer preferences continue to change, beverage producers are required to adapt in order to thrive among their competition. And with the increasing popularity of cannabis beverages, many companies are looking to expand their portfolios by adding a cannabis-based operation. Furthermore, current statistics have signaled that alcohol and sugary beverage consumption rates are declining as consumers are notably shifting towards healthier alternative. In particular, CBD-infused beverages are highly popular because they do not cause psychoactive effects but instead, offer therapeutic effects. And according to data compiled by Arcview Market Research and BDS Analytics, North American consumer spending on cannabis-infused foods and drinks reached USD 1.5 Billion in 2018. By 2022, the two firms suggest that edible sales are on track to reach USD 4.1 Billion.

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