With new laws in place governing commercialization of marijuana across the US and Canada, several new opportunities and business avenues are likely to emerge in recent days as several businesses struggle to remain afloat amidst global pandemic and lockdown. A closer look and analytical review of the cannabis market reveals that, there are several states across the US who are favoring legalization of marijuana dedicated to both recreational and medical needs which is continued to spike vendor involvement and participation in several cannabis-based products. However, the taboo associated with cannabis and its derivatives continue to face the brunt of previous laws that restricted commercialization and consumption of marijuana in all forms. Hence the scope for a booming market is still afar from reality. Factors as such have maneuvered several cannabises related companies are aggressively investing towards business expansion programs, increasing the varieties available in cannabis derivatives to entice grater and favorable customer attention and subsequent adoption.
Besides the staple mergers and acquisitions strategies, cannabis companies are largely banking upon expanding cannabis product portfolio expansion, offering varied cannabis products dedicated to retail consumption for churning maximum consumer adoption. Yet another profitable cannabis-based offshoot business that is likely to emerge and sustain as a massively popular business is cannabis based* beverages. In this regard, Constellation Brands has recently sealed a partnership deal with Canopy Growth Corp, best known for its high-end cannabis based products and derivatives across Canada. Speculations are rife that the joint venture would propel development and commercialization of several cannabis based products that are likely to be marketed as joint efforts in the coming times.
Yet another significant development as far as cannabis industry expansion is the partnership deal between HEXO and Molson Coors. Most speculated changes in the product portfolios of these companies participating in joint ventures are likely to come up with cannabis infused juices, aerated drinks, sparkling water, and even hot beverages such as coffee. These are likely to be marketed under the umbrella of medicinal cannabidiol which are frequently prescribed as anxiety reducing products without causing any nervous deterioration.