But it hasn’t been an easy task to set up a vibrant beverages market that can prove its worth to the cannabis producers keen on cementing the status of drinkable options.
Industry insiders have pointed to brand appeal and marketing challenges in the Canadian market as key reasons beverages haven’t taken off in the country just yet.
Emily Paxhia, co-founder and managing director with well-known cannabis investment fund Poseidon Asset Management, said beverages will be a key part of the industry’s future, particularly when it comes to reaching a new consumer base that may not feel comfortable with smokable or edible products.
However, the US-focused investor was quick to point out that at the moment this category represents an “incredibly tiny” part of the overall cannabis product market.
“I do think we have a ways to go before that is a dominant form factor,” Paxhia told the Investing News Network (INN).
Numbers don’t yet back up cannabis beverage promise
At least for the time