Consumers are thirsty for CBD beverages.
Research shows the CBD-infused beverage space is expected to reach $2.8 billion by 2025. And by 2029, the global cannabis market could inflate to $130 billion, with CBD beverages making up a significant chunk of business.
Alcoholic beverage companies have already started cutting deals in order to tap that corner of the market in case consumers decide to switch from traditional booze to drinks containing THC.
For example, Pabst Blue Ribbon — the 19th-century beer that is now the largest U.S.-owned brewer — recently debuted its cannabis-infused sparkling water at certain cannabis shops in California. The drink doesn't contain beer or alcohol, but rather a few milligrams of THC.
Before that, spirits giant Constellation Brands (NYSE: STZ), maker of Modelo Especial beer and Svedka vodka, acquired a 39% stake in Canopy Growth (NYSE: CGC) with the intention of a beverage rollout.
A certain group of celebrities are also high on the trend. Recall last month when cannabis beverage brand Cann received financial backing from Academy Award-winner Gwyneth Paltrow, "Batwoman" star Ruby Rose, Rebel Wilson, Darren Criss, Baron Davis, Tove Lo, Casey Neistat and Calesha Murray aka …