The American Trade Association for Cannabis and Hemp, an industry trade and advocacy organization, has formed a new Cannabis Beverage Council to connect cannabis industry and beverage industry leaders focused on expanding the cannabis beverage segment.
Hemp-derived CBD beverages will be a growing segment among consumers, accounting for up to $1.3 billion in sales by 2025, Nielsen Global Connect projects.
The council was formed to “forge a new beverage market by harmonizing canna-beverage policies across the country,” ATACH President Michael Bronstein said in a statement.
Founding members of the council include Anheuser Busch heir Adophus Busch V, founder of Denver-based ABV Cannabis Co., and entrepreneur Scott Coors of the Coors Brewing family, who serves on the board of directors for SeroVita Holding Corp.
“At the repeal of alcohol prohibition in the 1930s, the industry came together to create an industry effort and agree on responsible consumption, policies, and best practices,” Coors said.