From the desk of Ian Cooper
The cannabis boom is disrupting just about everything.
Even this year’s Academy Awards.
Actress Melissa McCarthy, for example, reportedly applied CBD oil to her feet to alleviate the pain she anticipated from high-heel shoes. In addition, according to Allure, stylist Kate Young also uses cannabis-based numbing cream with her celebrity clients, as well.
“Applying CBD half an hour before wearing shoes, especially high heels, is very effective because it acts as an analgesic and anti-inflammatory, so it reduces pain and swelling,” Lord Jones’ co-founder and president Cindy Capobianco told Yahoo Lifestyle.
Interest has only grown, as medical studies prove its health benefits. In fact, it can help treat psoriasis, dermatitis, and even minimize seizures, and stress.
It’s even massively disrupting wellness and health products, as well as the alcohol industry.
“Though not yet mainstream, cannabis adoption is certainly growing in states where it’s legal and does pose a risk to the beverage alcohol industry in the future,” said Brandy Rand, U.S. president of International Wine and Spirits Research (IWSR) U.S. president. “It’s important that alcohol brands pay attention to their consumers, recognizing that some occasions may result in a decrease in alcohol consumption in place of, or alongside, legal cannabis.”
While an increase in cannabis users won’t exactly derail the alcohol industry, it could decrease the amount of consumption.
It’s part of the reason Anheuser-Busch InBev announced a partnership with Tilray to research non-alcoholic beverages infused with THC and CBD.
Constellation Brands invested $4 billion in Canopy Growth.
Constellation’s investment in Canopy Growth, the biggest known deal in the marijuana industry, shows just how far traditional alcoholic beverage companies are willing to go to find growth.
“We believe the emerging cannabis space represents one of the most significant global growth opportunities of the next decade, and frankly, our life time," said CEO Bill Newlands. "An opportunity that is opening up much more rapidly than originally anticipated."
Molson Coors agreed to a joint venture with HEXO Corporation.
“Canada is breaking new ground in the cannabis sector and, as one of the country’s leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment,” said Frederic Landtmeters, president and CEO of Molson Coors Canada.
However, this is just the start. As the cannabis boom just begins, we strongly believe we’ll see many more industry giants taking a position in cannabis companies.
In fact, companies would be foolish to ignore this growth.