PALM BEACH, Florida, April 30, 2019 /PRNewswire/ -- A recent research report conducted by Zion Market Research stated that: "The Global Cannabis Beverages Market Will Reach USD $4,464 Million By 2025". According to the report, the global cannabis beverages market was valued at approximately USD 1,613 million in 2018 and is expected to generate around USD $4,464 million by 2025, at a CAGR of around 15.6% between 2019 and 2025. By region, North America held the major share of the global market in 2018 and is estimated to dominate over the forecast period as well. The growing spending on cannabis beverages is expected to propel this regional market. For instance, in 2016, about USD 180 million was expended on edible drinks and foods containing cannabis in California. This market is mainly driven by new consumers and companies invested in the wellness and healthcare sector that want to offer smoke-free marijuana experience. According to the CDC (Centers for Disease Control and Prevention), among the adults in the U.S., the smoking rates reduced from 20.6% in 2009 to 16.8% in 2014. Moreover, the growing partnership and investments made by various regional companies for the development of cannabis beverages are likely to further propel the growth of this regional market. Active Companies from around the market with current developments this week include: Puration Inc. (OTC:PURA), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), 1933 Industries Inc. (CSE: TGIF) (OTC: TGIFF), Kona Gold Solutions, Inc. (OTC: KGKG), New Age Beverages Corporation (NASDAQ: NBEV).
Europe is anticipated to hold the second position in the global cannabis beverages market in the future, owing to the rising investment for cannabis beverages and growing awareness. The Europe-based company, Coca-Cola, is diversifying into the cannabis-infused beverages segment. The Asia Pacific and the Middle East and Africa regions are expected to show high growth in the cannabis beverages market over the forecast time period, owing to the increasing footprints of companies in India, Australia, and South Africa for cannabis beverages product development.
Puration, Inc. (OTCPK:PURA) BREAKING NEWS: Puration today announced its EVERx CBD Sports Water will debut in Africa at the Arnold Sports Festival in Johannesburg, South Africa May 17-19. EVERx was officially launched for the first time ever at the Arnold Classic in Columbus, Ohio in 2017, and now EVERx expands its presence at the Arnold Sports Festival events worldwide. EVERx today is the leading CBD infused sports nutrition beverage with over $1 million in sales. EVERx is now an official sponsor of Jan Tana's Body Painting Revolution featured globally at Arnold Sports Festival venues worldwide and the EVERx booth can be found near Jan Tana's Body Painting Revolution Stage in Johannesburg.
Jan Tana's Bodypainting Revolution, A colorful and artistic event, returns to The Arnold in South Africa for the second straight year in 2019 after a spectacular recent production at the Arnold Classic Sports Festival in Columbus, Ohio. This unique art exhibition and competition will take place completely in public view as artists paint models, taking more than six hours to complete in hopes to impress the judges, captivate photographers and delight audiences with breathtaking stage performances.
The Arnold Sport Festival hosts multi-sport festivals on six-continents each year, including the Arnold Classic Africa, which takes place in Johannesburg, Gauteng, each May. The Arnold Sports Festival USA is held in Columbus, Ohio in March, followed by events in Melbourne, Australia, Brazil, Hong Kong and Spain. All events feature professional bodybuilding and related contests, amateur bodybuilding, strength and combat sports, a large health and fitness expo and youth events that vary from continent to continent.
"The Arnold Classic Worldwide brand is now the largest series of multi-sport festivals in the world and we look forward to making each of our Arnold Classic weekends better than our previous best," said James J. Lorimer, CEO of Classic Productions, Inc., who co-founded the Arnold Classic in Columbus with Governor Schwarzenegger.
Three years ago, four South African bodybuilding and sports enthusiasts collaborated to make the Arnold Sports Festival a reality on the African continent under the broad theme 'My Sport, My Passion'. In partnership with the Gauteng Provincial Government and the SA Sports Confederation and Olympic Committee (SASCOC), Arnold Classic Africa affords athletes the opportunity to compete in an international competition, against participants from all continents, in Africa. Like its global counterparts, the African rendition embraces numerous sporting codes and promotes these through demonstrations, contests, record attempts and sports celebrities over three days each May. Read this and more news for PURA at: http://www.financialnewsmedia.com/news-pura/
In the industry developments and happenings in the market this week include:
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) has entered into an arm's length binding multi-year extraction services agreement (the "Agreement") with Valens GroWorks Corp. for Valens to provide cannabis and hemp extraction services to HEXO Corp ("HEXO") (HEXO.TO) (HEXO), a leading cannabis producer and consumer packaged goods cannabis company.
The Agreement has an initial 2-year term from the date of the first shipment, with HEXO supplying Valens with an annual minimum of 30,000kg in the first year and 50,000kg in the second year of cannabis and hemp biomass. Valens will process this material on a fee for service basis into premium quality resins and distillates using the Valen's leading proprietary extraction processing methods. The Agreement contains provisions under which it may be terminated with 90 days written notice after the one-year anniversary. Valens expects to receive and begin processing the first shipment from HEXO early in Q3 of 2019 and currently holds all required licensing from Health Canada to carry out its obligations under the Agreement.
1933 Industries Inc. (CSE: TGIF.CN) (OTCQX: TGIFF) a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, recently provided an update regarding its new hemp extraction facility in Las Vegas, Nevada.
The Company announces that it is progressing with plans to launch one of Nevada's largest hemp extraction facilities, become a major player in the booming CBD (cannabinoid) industry and add a new significant revenue stream to its business model. The Company, in collaboration with a leading engineering firm, has completed an extensive research and development phase to develop a customized design in order to provide for a larger, more efficient and more robust hemp processing laboratory ("Hemp Lab") than originally planned. The Hemp Lab has been designed in line with the new regulations and recommendations set out by the recently passed farm bill or Agricultural Improvement Act of 2018.
The Company plans to deploy a custom-built, ethanol extraction system with full chromatography abilities to allow for isolation of THC, CBD, CBN, CBG, CBC, and several other cannabinoids, including the ability to produce full spectrum and broad spectrum oils, as well as isolates. The equipment is currently being engineered to meet required GMP standards.
Kona Gold Solutions, Inc. (OTCPK: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, recently announced that it has partnered with sixteen new distributors within the last thirty days. These new distribution partners are located in California, Idaho, Indiana, Kentucky, Louisiana, Minnesota, Nevada, New Mexico, New York, Oklahoma, Texas, Virginia, Washington, and Wisconsin. With its Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters, the Company continues to grow its market share in the hemp and CBD infused beverage sector by adding new distribution partners, further solidifying itself as a leader in its market. Kona Gold currently has distribution partners in 24 states.
Kona Gold announced earlier this month it has begun production of its new exciting flavors for both its Hemp Energy Drink and CBD Energy Water product lines. These new Kona Gold Hemp Energy Drink flavors include Bubble Gum and Candy Apple, while the new HighDrate CBD Energy Waters include Sour Apple and Blue Island Punch. All new flavors are expected to hit the market by mid to late May.
New Age Beverages Corporation
(NASDAQ: NBEV) the Colorado and Utah-based organic and natural beverage company intending to become the world's leading healthy beverages and lifestyles company, recently announced the global launch of their CBD product portfolio, with the unveiling of their line and shipment of their CBD creams, lotions, and oils to be sold worldwide under its Health Sciences Division.
Jerry Haase, M.D., Chief Medical and Scientific Officer for the New Age Health Sciences Division commented, "The Health Sciences Division has worked exhaustively bringing all of our science, patented formulas, insights and more than 10 years of study to deliver superior clinical products to consumers. Our launch of CBD leverages all of that differentiated expertise, and specific study of cannabinoids over the past number of years for the benefit of these new products." Shon Whitney, Senior Vice President of Sales and Marketing at Morinda added, "The 'NHANCED CBD brand's promise is simple, we will bring you the most researched, most efficacious, and highest quality CBD products possible, that you can trust. We will never compromise quality in sourcing, processing, safety or ingredients to deliver a superior outcome in the finest CBD products available worldwide."
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