Although cannabis-infused drinks are predicted to be the next big thing — a product that could potentially turn out the most substantial chunk of change for the legal cannabis market — most of the larger beverage companies are still apprehensive about jumping on board.
Sure, there seems to be a new report surfacing every week about these companies exploring opportunities in the liquid ganja game, but the reality is very few have actually taken the plunge. As it stands, Constellation Brands, Molson Coors and Heineken are the only major beverage producers that have either produced a cannabis beverage are in the process of bringing one to market in the next year or so.
It was just this week that Coca-Cola CEO James Quincey reached out to dispel the rumor that the company was developing a CBD-infused beverage. An anonymous source told Bloomberg in September that Coke was in “serious talks” with Canadian cannabis firm Aurora to produce a line of “recovery drinks” for the health-conscious consumer. It seemed legit enough. After all, soda companies have been losing market share for the past couple of decades due to consumers moving away from sugary drinks.
But Quincey says marijuana is not in the cards for Coke, at least for now. When Cowen and Company’s Vivien Azer asked about the rumors, he said “we don’t have any plans at this stage to get into the space… So that’s kind of where we are.”
But the big cheese of the largest soda company is the world did not offer any explanation as to why the company was keeping its distance. Just that Coke is not getting involved and that’s that.