Alcohol companies are observing a cannabis beverage boom and are now considering entering the market as their sales decline. Brands like Cann and Wynk have gained shelf space through partnerships with distributors. Beverages with THC are allowed in 24 U.S. states where recreational marijuana is legal, and THC can also be legally extracted from hemp for wider distribution. Alcohol companies are taking cautious steps due to shifting regulations and public health warnings regarding alcohol consumption, which has been facing scrutiny for links to health issues.
Top alcohol makers are considering entering the cannabis beverage market as their sales decline, prompted by emerging brands making deals with distributors.
THC beverages, which are legal in 24 states, present an opportunity for alcohol companies as they look for new revenue sources amid falling sales.
Alcohol sales are declining post-pandemic, compounded by economic factors and growing health warnings associated with alcohol consumption.
Big Alcohol is proceeding cautiously due to changing state and federal regulations regarding cannabis beverages, which could impact market entry.
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