What To Expect From The Cannabis Beverage Industry In 2020
2020 is going to be a big year for cannabis beverages. Here’s what you need to keep your eyes out for.
The cannabis beverage industry has come a long way since Trump signed the 2018 U.S. Farm Bill. Yes, the beginning for cannabis beverages might have been a little slow, but with the industry overcoming the 3 main barriers, it’s definitely progressed.
2019 saw a lot of brands gain traction on their cannabis infused beverages, such as Rebel Coast Winery, Spacestation, Cann, Canopy Growth, and many more. We can confidently say that 2020 is going to be no different, in fact, it’s going to be even better - as cannabis drinks are going to be bigger this year.
2020 is going to be a big year for the cannabis beverage world. So if you’re looking to get into the cannabis beverage industry, or looking to expand your already existing cannabis drinks business, then here are a few things you need to keep an eye on in the canna-bev world this year.
More retail space
The good news this year is that, cannabis drinks are said to have more retail space in dispensaries and shops. Not only cannabis drinks in general, but CBD products are going to find themselves in a larger retail space, which means that distribution of cannabis drinks is going to be increasing. This is an immense step-up for the canna-bev industry, as consumers, and people in the industry are starting to get into cannabis drinks.
The high price point of cannabis beverages has been one of the main barriers that the industry has faced up until now. Due to the higher price points of cannabis infused drinks, sales have been low. However, 2020 looks a little different in this sector. Thanks to science and the acceptance of cannabis in the world, farming and processing of cannabis will be more efficient in 2020. With this taking place, we’re predicting that prices of cannabis beverages will drop - and will be easier to purchase for consumers - in turn increasing sales.
Events, markets, and more…
2019 was already a good year for cannabis events and markets. In fact, the first edition of the Cannabis Drinks Expo also took place in 2019. However, 2020 is going to be even bigger with events. Cannabis Drinks Expo is coming back with its’ second edition and expanding to Chicago. Cannabis Food Show is launching its first show in the summer, MJ BizCon will take another year, and Hall of Flowers is definitely going to be in full force. Along with these, you will see other cannabis centric events, especially ones focusing on the canna-bev market. So keep your eyes out for those, because as a cannabis beverage brand, you will want to be there.
Kick your summer off with attending one of the leading events focused on cannabis beverages. Attend the 2020 Cannabis Drinks Expo.
More focus on canna-bev marketing
Cannabis beverages have had their fair share of marketing in the past year, but it definitely hasn’t been enough - especially with all the rules and regulations regarding digital marketing of cannabis, and just canna-marketing in general. As 2020 proceeds, marketing for cannabis beverages is going to become easier, as people are accepting the canna-world a bit more day by day. This is going to make it easier for cannabis beverage companies to bring traction to their brands, and to grow their consumer base. All in all, marketing will help increase the industry’s cannabis drinks sales.
Celebrities are also said to advertise more cannabis drinks this year, as they are proven to be good for health - including sports. This is going to bring immense exposure for canna-bev brands, and we are hoping it will help take the industry one step forward.
The cannabis beverage market is one that is just going to keep expanding. Due to the science that the industry offers now, cannabis beverages are able to give the entire experience as alcohol does. You don’t really have to sit and wait around anymore for the buzz you’re looking for. This is increasing consumer demand, which is pushing brands to produce new products for the canna-bev lovers. Companies like Constellation Brands, The Heinz Kraft Company, and others are also investing in cannabis businesses, as the industry is being looked at as a great growth opportunity.
Here’s to cannabis beverages, and what’s to come in 2020.