THC Beverage Sector Is ‘Probably Bigger Than We Realize,’ Say Industry Experts And It’s Not Too Late To Get In
The THC beverage sector is projected to grow to $500 million by 2026, from $180 million in 2021, according to BDSA Analytics. With this part of the marijuana space growing very fast, is it too late to join? Is it complicated in terms of regulations? Are hemp drinks becoming a substitute for alcohol?
Answers to these and many other important industry questions were provided by experts in the space at the recent Benzinga Cannabis Capital Conference in Florida. Drea Groeschel, founder and CEO of Better Than Booze; Aaron Nosbich, founder and CEO of BRĒZ: Ben Meggs, CEO of the Bayou City Hemp Company and Brandon Harshbarger, president of Cheech and Chong Global Holdings all shared their expertise. The panel, “THC Beverages A New Twist On A Familiar Form Factor,” was moderated by Lorena Beltrán, co-founder and CEO of CannabiSalud.
See Also: In 2024 Minor Cannabinoids And THC Beverages Expected To Boom
Hemp As A Variety Of Cannabis
“The key thing to know is the difference between hemp and traditionally known as marijuana,” Nosbich started the discussion. “They’re both considered cannabis. Hemp has below 0.3% THC by weight. And all of our products have below 0.3% THC. The thing about cans and other products is they’re pretty heavy. So, below 0.3% can contain quite a bit of THC, although most of us have products under ten milligrams. So, that’s the basis that leads to federal legality of our products.”
When it comes to labeling products, whether it is hemp-derived, or delta-9 THC, things might seem even more complicated. Delta-9 has kind of created this brand of itself, said …