"Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world", Coke said in its statement on Monday.
Coca-Cola's statement comes amid reports the company has held talks with Canada's Aurora Cannabis to develop beverages. The beverage giant is in talks with Aurora Cannabis, according to multiple sources, about producing a cannabis infused beverage that would be high in CBD. "No decisions have been made at this time", stated Ken lander for the BNN Bloomberg.
Estimates vary, but the consumer CBD market is estimated to grow to US$2.1 billion by 2020, from $202 million in 2015, according to a recent report in the Hemp Business Journal.
Sept 17 (Reuters) - Coca-Cola Co is closely watching the fast-growing marijuana drinks market for a possible entry that would expand the world's largest soft drink maker's ambitions further away from sugary sodas.
Spirits maker Constellation Brands bought a minority stake in a Canadian marijuana producer a year ago.
In addition, a number of Canadian cannabis companies, including Cronos and MedMen Enterprises, now trade on U.S. stock exchanges, and some American companies have taken stakes. Heineken's Lagunitas craft-brewing label has launched a brand specializing in non-alcoholic drinks infused with THC, marijuana's active ingredient. It has been used to treat epilepsy and other maladies. The drug is still illegal under U.S. federal law, although some states have decriminalized it.
Canada is the first major economy to legalize recreational marijuana, and shares in cannabis producers have rallied in anticipation. The BI Canada Cannabis Competitive Peers Index has more than doubled in the past 12 months, though has dropped 24 per cent in 2018 on concern that the stocks are overvalued.