Reasons for increasing competition in the Canadian hemp drinks market
The established regulatory framework for the development of this segment of modern cannabis growing has already attracted such players to the market as Anheuser-Busch, which has merged with Tilray; Molson Coors - merged with Hexo Corp. and Constellation Brands has teamed up with Canopy Growth, and a small Canadian company, Bevcanna, is trying to bring hemp drinks to its own brands and white label customers.
On the pages of the specialized electronic edition of Ukrainian cannabis growers, the question has been raised more than once that one of the most promising trends in the development of the nutraceutical market is the use of the therapeutic properties of various elements of the hemp plant, including as raw materials for the manufacture of various kinds of drinks. Taking into account the peculiarities of the current regulatory framework, it is interesting to observe the behavior of various brands on the hemp market in Canada, especially if small regional companies enter it, making a huge stake on their continued existence precisely due to their development in the hemp segment of the beverage market.
In the United States, hemp-based beverages are considered the fastest growing segment of the market by analysts and representatives of consulting companies. Therefore, licensed manufacturers rushed to be the first to enter the aforementioned market in the hope that this trend will develop in Canada in 2019 (the country introduced rules allowing the use of therapeutically active plant elements as raw materials for mass production of food and beverages) ... The established regulatory framework for the development of this segment of modern cannabis growing has already attracted such players to the market as Anheuser-Busch, which has merged with Tilray; Molson Coors - merged with Hexo Corp. and Constellation Brands - teamed up with Canopy Growth.
It has been over a year since drinks using hemp ingredients with significant therapeutic properties became available in the Canadian market. Despite the fact that the selection of hemp drinks is gradually increasing, however, no clear leader in the hemp drinks market in Canada has yet emerged.
The incompleteness of the hemp market in this area provides excellent opportunities for regional companies to compete for a part of the highly liquid sales segment; therefore, a number of regional companies specializing in the production of drinks have recently focused their development on it. For example, a small Canadian company, Bevcanna, is trying to bring hemp drinks to its own brands and white label customers. This fact, among other things, suggests that competition in the Canadian hemp drinks market is intensifying and regional companies, in order to enter and gain a foothold in a potentially highly liquid market, use unconventional mechanisms to compete with large players and take their niche in the rapidly developing extremely liquid market for hemp drinks.
Commentary of experts of the Association "Ukrainian technical hemp"
"White label" (White label) - a concept involving the production of non-branded products or services by one company and the use of such products or services by another under its own brand (brand).
Considering how intensively the market of hemp drinks is developing in the USA and Canada, it makes sense for national producers of non-alcoholic, low-alcohol or alcoholic brands to pay attention to this segment of modern hemp breeding in our country. Products of this kind, on the one hand, are already in demand by the national consumer and are promising from the point of view of increasing sales, on the other hand, it contains exclusively imported goods that do not have therapeutic properties, and most of them only exploit the hemp hemp brand.
The possibilities for the legal use of therapeutically active elements of the hemp plant in the composition of recipes for various types of drinks will be considered as a separate issue in the course of training the students of the next course of the Hemp University .