Beverages infused with cannabinoids, particularly CBD, have been gaining momentum in the retail world lately.
According to a recent report from Zenith Global, an international food and beverage consulting firm, worldwide sales of CBD and hemp-infused drinks are expected to top $1.4 billion by 2024. This would be an increase of over $1.3 billion from 2018, only 6 years. That being said, it’s not surprising that retail behemoth Walmart has been eyeing this sector lately and has even secured a deal with New Age Beverages.
New Age Beverages is a company that sells a variety of herbal teas and coffees with a focus on healthy ingredients. Walmart will stock one of their most popular brands, Marley, which includes a a few types of organic cold brew coffees, yerba mate drinks, and other flavored beverages. Later this year, New Age plans to unveil their first cannabinoid product globally – Marley Mellow Mood plus CBD.
This arrangement shouldn’t come as a shock to anyone, in light of Walmart’s historically progressive stance on cannabis products. In October 2018, Bloomberg reported that Walmart Canada was considering selling CBD products in its over-the-counter pharmacy section. Canadian spokeswoman Anika Malik commented that the company was just conducting “some preliminary fact-finding on the issue, as would be expected with any new and fast-growing industry.”
That same month, they began selling various hemp oil products containing virtually no THC. And let’s not forget when Walmart decided to briefly sell a rosin press online. All things considered, the partnership between Walmart and New Age Beverages seems like a match made in heaven.
However, its worth mentioning that, although you will be seeing Marley drinks on Walmart shelves as soon as next month, it may take a while longer before CBD beverages are available. At the moment, everyone is waiting on the U.S. Food and Drug Administration (FDA) to provide some insight regarding what is actually legal and what isn’t. For now, they have indicated that selling any food products containing CBD is prohibited, but they will be convening in May to discuss possible changes while the nation anxiously awaits.
