Since cannabis became available for recreational use, companies have been experimenting with an array of concoctions to give themselves a superior edge compared to competitors.
Things like cannabis-infused chocolates, gummies, confectionaries, and beverages have all been introduced to meet individual consumers’ tastes and consumption preferences.
Cannabis cultivator and product company, Xebra Brands Ltd. (XBRA), is keeping up with the market’s demand for such goods by introducing its Vicious Citrus brand of cannabis-infused lemonades.
These unique refreshments are now available for purchase in Ontario, with more provinces to follow in the coming days and weeks.
Vicious Citrus is a non-carbonated THC-infused lemonade beverage with a tangy citrus old fashion flavour, enhanced with CBN. With the maximum number of psychoactive cannabinoids allowed in any Canadian listed beverage, Vicious Citrus combines 10 milligrams of THC with two milligrams of cannabinol (CBN).
The product is one of only a few beverages in Canada containing CBN, a unique cannabinoid that is booming in interest across North America. Ready-to-drink beverages and packaged beers currently represent US$1 trillion in the global market.
Any Ontario-based cannabis retailer can make purchase orders of Vicious Citrus through the Ontario Cannabis Store, and consumers can start purchasing the product at their favourite licensed dispensary immediately or directly at the online Ontario Cannabis Store (OCS).
“Based on positive initial feedback from retailers, initial orders from the OCS, and demand from other provinces, Vicious Citrus will expand rapidly across Canada… Anticipating strong sell-through, we are already producing inventory to restock the shelves across the country,” Jay Garnett, CEO of Xebra, said.
Xebra boasts over 150 cannabis cultivars and breeding lines, six cannabis-infused beverage brands, holds trademarks in over 40 countries, and deems itself as a major player in the Mexican Market.
Back in December 2021, Xebra was granted an injunction by the Mexican Supreme Court, which positioned it with an outright first-mover advantage in the Mexican CBD and CBG market
According to the company, Mexico may legalize commercial plans for cannabis activities by 2023. However, the approval process for applicants under a new legal framework could take several years. With its irrevocable Supreme Court injunction, Xebra does not require further formal legalization to operate and will begin operations this year.
The capital expenditure required to produce cannabis in Mexico is considerably less compared to operations in the U.S. and Canada. The company believes this will help it ensure a long production life.
Xebra’s focus for its Mexico operations moving forward includes receiving formal authorizations from COFEPRIS, the Mexican FDA, securing high-quality agricultural land in a secure area, setting up processing and extraction facility, manufacturing, and generating domestic sales.
In addition, the growing number of countries that are progressively legalizing the use of cannabis around the world is further estimated to provide potential opportunities for the growth of the cannabis market in the coming years. Xebra is already looking into expanding its beverage production to international markets where cannabis is legal
According to a Data Bridge online survey, results suggested the cannabis market was valued at US$25.40 billion in 2021 and is further estimated to reach US$168.58 billion by 2029. This market is expected to grow at a CAGR of 9.00 per cent during the forecast period of 2022 to 2029.
Investors should look to tap into this growing opportunity while the company sets itself up for a successful timeline of market expansion and revenue-generating opportunities.
To learn more, visit http://www.xebrabrands.com and www.viciouscitrus.com.
FULL DISCLOSURE: This is a paid article by The Market Herald.
