SAM - Booze And Bud: Friend Or Foe In The Cannabis-Infused Beverage World? | Benzinga
Cannabis-infused beverages are swiftly making their mark alongside traditional alcoholic drinks, and a recent panel discussion at the Benzinga Cannabis Capital Conference shed light on this burgeoning industry.
Moderated by Gerald Pascarelli, CFA senior VP, Equity Research at Wedbush Securities, the ‘Booze And Bud: Friend Or Foe’ panel delved into the current state and prospects of this rapidly growing sector.
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Beverages: The Fast-Growing Segment
"Beverages are still one of the fastest-growing form factors in cannabis," noted Chris Walker, president and CCO at Hoodie Analytics. Although they currently account for less than 2% of sales in an average dispensary, cannabis beverages are gaining popularity, particularly among new and affluent customers, offering significant growth potential, he said.
Branding And Price Stability
Paul Weaver, director and head of cannabis at the Boston Beer Company Inc. (NYSE: SAM), discussed the company’s foray into the cannabis beverage market. The company launched its THC-infused TeaPot brand in Canada and has plans for the U.S. market.
Weaver emphasized the advantages of cannabis beverages over traditional forms due to their branding and price stability. He pointed out, "Beverages have an advantage over traditional cannabis forms due to their branding and price stability."