The idea behind CBD infused flavored water is a simple one. Combine the growing appeal of CBD oil infused products with flavored seltzer water – and you may just have struck bubbly gold. When it comes to products that supply that delicious mouth feel of carbonated beverages the product that rules the premium roost remains champagne – but other carbonated beverages have been under increased market pressure from the manufacturers of beverages such as White Claw. In fact, the market for alcoholic carbonated waters (so-called ‘hard seltzer’)is today worth $550 billion. But that’s small change a UBS analyst has predicted that the hard seltzer market could be worth in the region of $2.5 billion by 2021.
Add to this the attractions of flavored waters – a North American market which was worth $7.41 in 2018 and growing at 5.51% year-on-year – and with an estimated worth of $9.69 billion by 2023 and the attraction for producers becomes even more apparent.
Then throw into the mix the CBD edibles market – which was worth around $1 billion in 2018 and expected to grow to well over $4 billion by 2022. CBD gummies are taking the market by storm – with sales that grew 925% when comparing 2018 sales with 2017.
Now, these facts and figures may seem a bit academic- but to sum them up – the potential market for flavored CBB infused waters, sparkling and still is simply enormous. Who are the companies investigating this market potential and what sorts of flavors are about to reach shelves across the United States? If the Instagram stories are to be believed this is a market that is going to explode – CBD infused beer is already making enormous inroads into traditional beer markets, is flavored water infused with CBD the next big thing?
Let’s take a closer look.
CBD has garnered a huge following for its purported benefits in controlling anxiety – and the youth market is one that is eager to test this out. Companies like ‘Recess’, which manufactures flavored waters with CBD obtained from hemp and adds’adaptogens’ (plants and herbs that help the body to deal with physical and mental stress) are banking on consumer demand to provide it with a class-leading share of a growing market. It also adds American Ginger and L-theanine which it claims will brighten the drinker’s mood.
With flavors such as Blackberry Chai, Peach Ginger and Pomegranate Hibiscus, the company is confident that they have what it takes to be a class leader. The subtle pastel-colored cans are designed to convey a feeling of relaxation and calmness – no energy drink colors that are designed to overwhelm the senses with the promise of being ‘wired to the max’. These are drinks that are aimed at creative personalities – a Red Bull for the Internet Generation.
Another player in the CBD flavored water market is also convinced that the combination of CBD and adaptogens are the key to the success of their flavored water is DRAM Apothecary, a Colorado-based outfit with a seriously strong social media following (they also aim to leverage Instagram in marketing). Their ‘Gingergrass Adaptogenic CBD Sparkling Water’ and Bilberry and Rose Petal flavored ‘Beauty Bubbles’ products are packed to the brim with Ginger Root, Amla Berry extract, Canadian sourced Chaga mushroom extract and Rhodiola root – as well as CBD. DRAM claims that drinkers will feel more relaxed within half an hour of consumption – and that drinkers have experienced a fabulous night’s sleep after consumption.
There are many other manufacturers who have recognized the potential of CBD infused flavored waters. It is a market that is set to explode in coming years. These manufacturers would be delighted if the success of there flavored waters matched the stratospheric rise of the market for CBD Gummies. Given the popularity of those products, there are very market research gurus that are willing to bet against them.