Molson Coors is set to take advantage of the growing market demand for CBD beverages with its new innovative range of hemp-derived waters in the US. Whilst a relatively new segment in the country, the CBD market presents a major opportunity for manufacturers, with the market forecast to grow significantly over the next few years. Entering this market in its relatively infant stage puts Molson Coors in a position to exploit this rapid growth, and through strong marketing of its health credentials the brand can become synonymous with the category. Currently only available in Colorado, Molson Coors has the potential to expand its distribution channels and penetrate the US over the forecast period.

Veryvell contains adaptogens, non-toxic plants that help the body deal with physical, chemical or biological stress. According to GlobalData, one in five (19%) US consumers recently reported that they generally feel stressed, suggesting a wide consumer audience who would benefit from regular use of this product. With CBD products still niche within mainstream society, focusing marketing on promoting the health benefits associated with CBD beverages will help it break into the mainstream market. The pandemic will accentuate this as people become more health-conscious. Interestingly, the same survey suggests that *147% of people aged 18-24 reported that they generally feel stressed, suggesting a target market for Molson Coors to aim their marketing campaigns. Younger people are also more likely to be accepting of cannabis products, in contrast to older generations, who are more likely to have misconceptions of the product’s ingredient profile.

According to GlobalData, 82% of people say that how a product affects their health somewhat, often or always has a bearing on whether they would purchase a product. This product not only has the stress-related benefits but contains zero sugar and zero calories. With obesity at very high levels in the US, *242.4% of US adults being overweight in 2017-2018 (according to the Center for Disease Control and Prevention), the nation is waking up to how detrimental calorific beverages are and shifting preferences towards beverages that claim health benefits. Furthermore, obesity has been shown to increase the risk of serious illness following infection from Covid-19, a factor that will drive the purchasing of low-calorie drinks. This drink offers an obesity-countering treat coupled with a trio of traditionally sweet flavours; Grapefruit Tarragon (Focus), Strawberry Hibiscus (Mind & Body) and Blueberry Lavender (Unwind).

Targeting a combination of functionality, health and novel flavours, this type of beverage has the potential to be market-leading in the cannabinoid beverage industry with Molson Coors. The company will be able to build a loyal customer base in Colorado through the use of health marketing and online advertising through influencers. With Covid-19 restrictions boosting online shopping, Molson Coors will be able to exploit this growth and expand distribution to increase market penetration, especially through e-commerce channels.

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