In a press release this week, Aurora Cannabis (TSX: ACB) (OTCQB: ACBFF) confirmed that it has entered into the beginning stages of negotiations with beverage conglomerate Coca-Cola to discuss the possibility of launching a brand of Cannabidiol (CBD) infused beverages.
At this point there is no agreement that has been made but, the discussions are a clear indicator of the growing demand for and popularity of CBD infused products. Products infused with the non-psychoactive chemical compound are currently being sold around the world. CBD, which is extracted in larger quantities from the industrial hemp plant, has a wide range of medicinal benefits that manufactures are utilizing to market wellness products to customers.
Coca-Cola gave this statement this week, “We have no interest in marijuana or cannabis. Along with many others in the beverage industry, we are closely watching the growth of nonpsychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”
With expected changes in legislation involving hemp cultivation in both the United States and Canada this year it, is only a matter of time before discussions between cannabis companies and companies like Coca-Cola will take place.
The Brightfield Group’s Hemp CBD Report of 2018 is now indicating that the hemp- derived CBD industry is worth $591 million dollars and is on pace to reach $22 billion dollars by 2022, with a five-year CAGR of 132%.