Last year, statistics showed that the number of CBD infused drinks being distributed on a daily basis has increased dramatically. These CBD infused drinks have become popular because they are THC-free, which means they do not have any psychoactive effects and hence, do not cause hallucinations.
With cannabis legalization spreading to new states and countries, the market for THC and CBD products is growing rapidly. Many product categories will likely see an increase in sales revenue, but infused beverages seem particularly poised for a huge increase in market share.
According to a new report from Grand View Research, the global cannabis beverage market was valued at $901.8 million in 2018. With the expansion of both legal medicinal and recreational cannabis over the next few years, Grand View predicts an overall 17.8 percent growth in the infused beverage market from 2019–2015.
By 2025, Grand View said CBD beverages sales will close the gap considerably and represent close to half of all infused beverage sales.
Alcohol producers seem to have reached the same conclusion as Grand View. Lagunitas, which is owned by Heineken, released Hi-Fi Hops, a cannabis beverage that includes zero calories and is infused with both CBD and THC. Constellation Brands, makers of Corona and Modelo, has entered the cannabis market with a partnership to make infused beverages with Canopy Growth.
Yesterday, 1st Prestige Wealth Management (OTC Pink: FPWM), announced it will now operate under its new name, Charlestowne Premium Beverages Inc. The rebrand follows the acquisition of the developer and wholesaler of the alcoholic and non-alcoholic beverages that share the same name.
“The decision to change the Company name comes as part of the acquisition of Charlestowne Premium brands and a desire to reinforce the symbiotic relationship we have with the brand. We are looking at a new direction as a Company and have set our sights on the alcoholic beverage market where we hope to carve a niche within the CBD infused beverage landscape. The CBD market is growing extensively in the US, so that presents a huge market opportunity,” added Martin Ustin, CEO at 1st Prestige Wealth Management. “We are entirely aligned in terms of mission and goals, so it made sense to unite the company under that name. I look forward to announcing our short-term plans in the next few weeks and keeping our investors and stakeholders up to date through our corporate communications and press releases.” Although the company name will change, the market ticker will remain the same under FPWM.
Charlestowne Premium Beverages Inc (OTC Pink: FPWM) is a company that develops, produces, markets, and distributes alcoholic beverages worldwide. The Company’s portfolio showcases spirit brands such as Papa Vodka, Crocodile Tears Vodka, Proprietor’s Reserve Whiskey, and Lord Proprietor’s Special Reserve Whiskey. Charlestowne Premium also has Wholesaler and Import permits from the Alcohol and Tobacco Tax and Trade Bureau – the governing body for spirits in the U.S. under the Department of the Treasury.
To learn more, please visit www.charlestownepremiumbeverages.com