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A
non-psychoactive compound derived mainly from the hemp plant,
CBD is being researched for various medical applications and has
found increased use as a relaxative.
Canopy said its "Quatreau" line of sparkling waters comes in two
variants — one with only CBD and another with a limited amount
of tetrahydrocannabinol (THC), the cannabinoid which causes a
high.
A study https://www.grandviewresearch.com/industry-analysis/cannabis-beverages-market
by analytics firm Grand View Research in January estimated the
global cannabis beverage market could reach over $2.8 billion by
2025.
The pot producer, backed by Corona beer-maker Constellation
Brands Inc <STZ.N>, launched its THC-based drinks in Canada
earlier this year and told Reuters it had sold 2 million cans so
far.
Canopy in October announced plans to launch its THC beverages in
the United States next summer. The company claims to control
over 70% of the THC beverage market share in Canada.
Its chief executive David Klein, a Constellation veteran, told
investors in August Canopy expected to double its drinks output
for that month after having already doubled it the previous
month.
(Reporting by Shariq Khan in Bengaluru; Editing by Ramakrishnan
M.)
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