IGC to Enter the Hemp / CBD-Infused Energy Drink Space
The India Globalization Capital, Inc. (IGC) has announced to enter into an agreement of distribution and partnership for numerous products together with a sugar-free, energy drink named ‘Nitro G’.
IGC has revealed to pay 797,000 shares of common stocks that are restricted and unregistered, to enter into an agreement for 10-years along with optional 5-year extensions. According to this agreement, IGC will have the rights to promote and market the products in the U.S., Mexico, Canada, and South America to all developed CBD-based products.
The central idea of the IGC is to build branded hemp or CBD-infused products which further addresses the growing demand in the market for energy drinks infused with the goodness of CBD derived from hemp.
Ram Mukunda, CEO of IGC revealed, based on a Grand View Research forecast, the global energy drinks industry is probably projected to be around $85 billion by 2025. The sales of non-alcoholic beverage are anticipated to account for a considerable section of the market. It also symbolizes a distinctive prospect for the commercialization and development of the CBD infused (sugar-free) energy beverage.
The successful collaboration of IGC and Hyalolex along with the Malaysian manufacturer will be all set to possibly introduce a matchless proficiency in microencapsulation, infusion, solubility, sugar-free processes, and controlled dose delivery. Such a situation will aid in introducing worth drooling over - CBD energy drinks to the market. Moreover, the information acquired may influence to expand the delivery method for all the branded products developed by IGC, including Hyalolex to that potent to treat Alzheimer’s suffering patients.
A 2018 Farm Bill has been recently passed to highlight the potentially legalizing the products that are formulated from industrial hemp such as hemp oil consisting primarily of CBD.