Investors, cannabis fans, and anyone with a thirst can celebrate the news that BevCanna Enterprises Inc. (CSE:BEV) has announced the debut of its latest cannabis-infused brand, Grüv Beverages.
Designed for mass marketing appeal, the Grüv Beverages line includes a wide range of easy-drinking cannabis-infused iced tea beverages. These drinks will quench your thirst while helping you relax. As such, they combine the best of what cannabis and iced tea have to offer.
Grüv Beverages will be among the first brands launched by BevCanna in the US and in Canada following the legalization of ingestable cannabis products in Oct 2019. A 375 milliliter ready-to-drink beverage, made with 5 milligrams of both THC and CBD infused in an alkaline spring water base, will be the first Grüv drink to hit shelves. Available flavors will include herbal, green, and black tea.
Consumers are Thirsty for Balanced Cannabis Beverages
The Grüv Beverages line was developed in response a recently completed North American-wide consumer study, which was conducted by an independent research group on behalf of BevCanna.
More than 2,000 adults of legal drinking age were surveyed for the study, which focused on consumer interest and preferences within the burgeoning cannabis-infused beverage market. These participants, based in either Canada, New York, or California, were asked about their preferred format for cannabis consumption (such as edibles, beverages, topicals, etc), their reasons for consumption (pain relief, as a sleep aid, relaxation, etc), and their likelihood of making a specific purchase.
According the the results of the study, more than 70 percent of Canadian consumers will “probably” or “definitely” purchase CBD-infused beverages once they become legal. This represents the highest future purchase intent of any cannabis products.
Furthermore, consumers showed a particular interest in cannabis-infused iced tea beverages.
“Iced tea was among the top five performing concepts, among 25 product concepts tested,” said Emma Andrews, BevCanna’s Chief Commercialization Officer, in a press release. “We are also choosing to launch this brand with a balanced THC and CBD profile (1:1 ratio), in order to provide consumers with a mild, yet effective cannabis experience.”
The study also found that Canadians consider THC beverages a good way to relax with friends, and all consumers see CBD beverages as complimenting a health lifestyle. The balanced profile of the Grüv Beverages line offers the best of both worlds.
Grüv Joins BevCanna’s Already Impressive Portfolio of Beverages
In addition to Grüv, BevCanna will also be offering Anarchist Mountain Beverages in Canada once cannabis-infused beverages become legal. Anarchist Mountain is a THC-dominant line of highly flavorful, lightly sparkling water. Inspired by BevCanna’s site of operations in BC’s interior, the drinks will be “a celebration of all the West Coast has to offer.”
Like beverages in the Grüv line, Anarchist Mountain drinks will be perfectly suited for a variety of occasions. Each flavor will offer a distinct botanical experience evocative of the plants found throughout the Pacific Northwest, including those grown at the 100+ wineries spread throughout the region. The full portfolio will include ready-to-drink beverages, shots, and powdered drink mixes.
Finally, BevCanna is preparing a line of CBD-dominate beverages called Lev. These will be fruit-forward, lightly sparkling spring water beverages that harness the natural therapeutic properties
of cannabis to elevate consumers’ well-being and quality of life.
BevCanna is Well Position in the Cannabis-Infused Beverage Market
In the last two weeks, BevCanna’s stock price has doubled as the company prepares for the legalization of ingestable cannabis products.
The company owns a 100-acre outdoor cultivation site in the Okanagan Valley and enjoys the exclusive rights to a pristine spring water aquifer there. The Canadian government has since halted access to new aquifers like this, making BevCanna’s position even more enviable.
In addition, its bottling facility is HACCP certified, with an annual capacity of 72 million bottles.
Between 2020 and 2022, the company projects its revenue to more than triple, from $11,851,646 to $37,288,393. It’s clear that BevCanna is prepared to harness the demand for cannabis infused beverages like almost no other company in existence.
Featured image: Getty Images.