PepsiCo just became the latest beverage company to say it's looking at the fast-growing cannabis market
PepsiCo is carefully examining the cannabis industry while the other beverage companies are exploring the CBD market.
Speaking to a renowned media channel, Chief Financial Officer Hugh Johnston said they will be looking at cannabis market critically. However, the officials aren’t ready with any plans yet to share with the media at the moment.
Cannabis is considered as federally illegal in the U.S., but there are some exceptional states in the USA and Canada having a legal status. This has eventually engrossed hype in attention from various food and beverage industries as an opportunity for potential growth, or on the contrary, a risk to their brands.
This summer, the Corona beer maker Constellation announced an extra $4 billion stake in Canada based Cannabis Company while subsequently following up on a preceding investment made in the month of October.
According to a recent report, even a Coca-Cola company is closely keeping a watch on the growth of non-psychoactive effect of CBD while considering this as an ingredient in a beverage industry.
The marijuana-derived CBD is believed by a handful of people to offer therapeutic relief. The CBD extract with no THC further shows an effective result in the user while not making the user get high.