HOUSTON, TX / ACCESSWIRE / March 20, 2019 / Analysts at Jefferies say the cannabis industry could reach $130 billion by 2029.
"This assumes full U.S. federal legalization, full recreational and medical legalization across Europe, full medical and recreational legalization across Lat Am, and cannabis disruption of a number of other industries," noted the analysts, as quoted by Yahoo Finance. "Industries at risk of disruption are pharma, alcohol, health and wellness, pet care and smoking cessation."
One of the biggest industries being transformed by cannabis are alcohol companies.
"Consumers will continue to look to cannabis products over alcohol for occasions when they are feeling creative, need to get motivated, or seeking health, medical or wellness benefits," notes a recent study from ISWR and BDS Analytics, as noted by FoodBev Media.
Some of biggest beneficiaries of the boom include Pure Global Cannabis Inc. (TSX-V: PURE) (OTC PINK: PRCNF), HEXO Corporation (NYSE:HEXO)(HEXO), and Canopy Growth Corporation (CGC)(TSX:WEED).
Pure Global Cannabis' (PURE)(PRCNF), through its wholly-owned subsidiary PureSinse Inc. just announced its partnership with Velvet Management Inc. to be its Canada-wide sales and distribution agent for its premium wellness, recreational, and craft cannabis products to be sold through provincially licensed stores and online retailers.
Velvet, a company created by the largest wine distributor in Canada, Philippe Dandurand Wines Ltd. will help ensure a strong retail and brand presence for Pure Global's non-medical lines of cannabis products with provincially regulated channels. Dandurand is the largest wine importer/agent in Canada, responsible for over 4 million cases or $625 million of annual sales volume across 3,000 retail points, with the largest wine salesforce in the country.
Velvet will soon have over 40 experienced sales representatives to service the close to two thousand licensed retail locations soon expected across Canada. Velvet has established direct relationships with provincial wholesalers and retail operators in all provinces giving Pure Global's branded portfolio immediate, direct access to each point of distribution in Canada's consumer Cannabis market, with exclusivity for the premium and craft product categories.
"This is significant for our sales, distribution, and route to market strategy to expedite our reach to provincially licensed retailers," said Malay Panchal, CEO of Pure Global. "Velvet's highly professional and experienced team was an obvious choice when further asking who has the track record to make us leaders in every product category we want to enter."
For More Information on Pure Global Cannabis, Click Here.
HEXO Corporation (HEXO) is currently working with Molson Coors to create non-alcoholic, cannabis-infused drinks. "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.
For More Information on HEXO Corporation, Click Here.
Canopy Growth Corporation (CGC) has also attracted interest among heavyweights in the alcohol business. For example, Constellation increased its stake in Canopy Growth by $4 billion.
"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."
For More Information on Canopy Growth Corporation, Click Here.
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