THC Beverages Buzz: Alcohol Makers Eye Cannabis Profits Amid Declining Sales
As traditional alcohol sales decline, major alcohol companies are exploring the burgeoning market of THC-infused beverages derived from hemp. Despite regulatory hurdles and past failures, the segment offers promising growth, with projected sales to surpass $1 billion this year, driven by shifting consumer preferences and expanding distribution.
Top alcohol producers are considering entering the rapidly growing THC beverage sector, inspired by brands like Cann and Wynk. Dewatering from traditional sales, companies are examining potentially lucrative but treacherous opportunities, despite past failed cannabis ventures.
Drinks with THC derived from hemp present a viable market as they can legally sell in various U.S. outlets, unlike their marijuana-derived counterparts restricted to dispensaries. Constellation Brands and Pernod Ricard are researching and negotiating to possibly lead this market shift.
While state and federal regulations remain a concern, the appeal of high-margin, THC-infused beverages becomes more pronounced. These products are already showing promise in liquor stores, offering a new revenue stream as conventional alcohol sales face challenges from economic pressures and changing consumer tastes.
(With inputs from agencies.)
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