- Functional beverage market estimated at $14 billion worldwide currently; CBD hemp extract market expected to hit $22 billion by 2022
- Phivida Holdings’ recent announcement of new Oki brand heralds introduction of full spectrum hemp extract-infused iced teas, flavored waters
- Company also has joint venture with WeedMD Inc. to produce cannabis-infused beverages under Cannabis Beverages, Inc. label
The concept that beverages may serve a “functional” purpose has developed within the health and wellness industry as cannabis producers examine ever-expanding options for putting the plant’s properties to use. Hemp-cultivated cannabinoid innovator Phivida Holdings Inc. (CSE: VIDA) (OTCQX: PHVAF) is pursuing the beneficial possibilities of new drink products infused with active hemp extract while marketing its existing line of Vida+ brand hemp oil extracts and capsules.
With less than a month remaining until Canada approves a full range of medical and recreational drug uses of the cannabis plant nationwide, cannabis industry companies and their…
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