The cannabis beverage market is exploding. This new market is hyped up as the next big thing (remember the la croix craze?) and will have a value of $2.8 Billion in the next 4 years. Many cannabis companies are capitalizing on the opportunity, allowing investors to profit. But what are the 3 best cannabis beverage stocks to buy in 2021?
Cannabis beverages will continue to be the most popular form of CBD consumption for the foreseeable future. In 2021, consumers will continue to have access to a growing variety of CBD infused energy drinks, soda waters, and cocktails. According to the Brightfield Group, the global CBD-Hemp market will be worth $22 billion by 2022. Why is the CBD market exploding? Well, you probably know that CBD has numerous health benefits – treating everything from anxiety to sleep disorders.
Related: Top 5 Cannabis Beverage Stocks for 2020
Best Cannabis Beverage Stock #1: Tilray (TLRY)
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Tilray (NASDAQ: TLRY), one of the most renowned names in the research, production, and distribution of cannabinoids and cannabis, is set to make it big in the CBD-infused beverage market. The company has partnered with Anheuser-Busch InBev, the single largest brewer globally, to produce non-alcoholic, cannabis-infused beverages. Tilray has also revamped its leadership team with those who have previous experience in top beverage companies.
Related: Global CBD-Infused Beverages Market Share Up by 27.5% CAGR
In a major development, the company also announced the acquisition of Manitoba Harvest, globally the largest vertically-integrated hemp edible producer, in early 2020. This acquisition will pave the way for Tilray to enter the CBD health and wellness market and make a mark in the beverages segment.
Best Cannabis Beverage Stock #2 New Age Beverages (NBEV)
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New Age Beverages (NASDAQ: NBEV) certainly has an early mover advantage in the CBD beverage space. In January 2018, the company announced the production and distribution of the Marley+CBD drinks product line. The Marley drinks portfolio sold CBD-infused relaxation teas with unique flavors like peach raspberry, lemon raspberry, and herbal honey.
Related: NBEV Announces Mixed Number Reports, Stocks Slightly Up
New Age is one of the largest beverage companies in the world. It aims to be a market leader in this segment and has many healthy beverages besides the Marley Line. These include Búcha Live Kombucha, XingTea, Coco-Libre, TeMana, and others. New Age is constantly on the lookout for new strategic growth opportunities for its wellness-oriented beverages and continues to add unique elements to its formulations.
Best Cannabis Beverage Stock #3 Hexo Corp (HEXO)
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Hexo (NYSE: HEXO) is a big name in Canadian cannabis industry and has over 1.3 million sq. ft. of facilities in Ontario and Quebec. In 2018, the hemp stock announced a joint-venture with a subsidiary of Molson Coors Brewing Company to develop non-alcoholic, cannabis-infused beverages. The joint venture is called Truss in which Molson Coors has a 57.5% controlling interest.
In August 2020, Truss Beverage launched 5 cannabis beverage brands namely Little Victory, House of Terpenes, Mollo, Veryvell, and XMG. These beverages have a variety of THC and CBD products with natural flavors. Truss plans to introduce the largest cannabis beverage portfolio to the Canadian market. The new cannabis beverages have been well-received by consumers and are believed to give a boost to this hemp stock.
Related: Entourage Health Partners with Boston Beer Subsidiary
The Bottom Line
Cannabis-infused beverages have a promising future ahead. Many cannabis companies will cash in on the opportunity, allowing investors to profit which is why cannabis investors should consider watching these top 3 cannabis beverage stocks to buy in 2021.
3 Best Cannabis Beverage Stocks to Buy 2021
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