Molson and Hexo unveil cannabis beverages brands
By The Canadian Press
By The Canadian Press
Competition in the cannabis beverage market is due to heat up as a company backed by Molson Coors Canada launches a group of cannabis drinks brands over the next few months.
Truss Beverage Co., a joint venture between the brewer and Ottawa-based cannabis company Hexo Corp., unveiled five brands Aug. 25 that it hopes will conquer the market and appeal to emerging tastes.
Truss CEO Scott Cooper says his company’s new brands include Little Victory naturally-flavoured sparkling beverages and House of Terpenes sparkling tonics with botanically-sourced terpenes. All the brands will offer beverages infused with either CBD or THC.
Veryvell, an existing Truss brand that currently offers cannabis extract drops, will centre around cannabidiol products and wellness, while XMG and Mollo will focus on drinks that are perfect for special occasions.
Truss entered the pot drink space in December, when it partnered with Flow Alkaline Spring Water to launch goji-grapefruit and raspberry-lemon waters infused with cannabidiol, a cannabis compound.
In a company statement, Truss said the company has been doing its own consumer research on the potential of the cannabis drinks market. Data from its studies showed 43 per cent of those who tried a beverage did so because it meant they could still consume cannabis but without smoking it.
According to a Cannabis Culture Report 2020 by DIG Insights in May, a growing number of cannabis consumers (46 per cent of light users) choose cannabis in various formats as a way to have fun with friends. However, one of the main barriers to enjoying cannabis in a social setting is the smell of smoking it. Seventy per cent said they don’t like the lingering odour of cannabis flower.
“This data shows just how ready Canadians are for a new cannabis experience that better fits their preferences and lifestyles. Quite frankly, it shows how game changing cannabis beverages can be for consumers,” said Lori Hatcher, Truss head of marketing.
Other cannabis retailers are already selling infused drinks from Canopy Growth Corp.’s Tweed, Aurora Cannabis Inc., A1 Cannabis Co., actor Seth Rogen’s Houseplant brand and Fluent Beverage Co., a joint venture between Anheuser-Busch InBev and B.C. pot company Tilray Inc.