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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.
“ATACH’s new council for cannabis beverages is modeled after this concept, which is why I am a part of this historic moment.”
The council also includes founding members David Klein, CEO of Canopy Growth, Christy Zhou, vice president of legal and regulatory affairs at Organigram; Erik Knutson, CEO and co-founder of Keef Brands; Bill Silver, president of new markets at Cannacraft; Chuck Smith, CEO of BellRock Brands, Koji Pupo, vice president of business development at Columbia Distributing, Gary Kaminsky, director of legal compliance at Acreage Holdings, Jake Bullock, co-founder of CANN and Josh Lizotte, CEO of Rebel Coast.
Read more about the cannabis beverage market in Hemp Industry Daily’s free report, “How to Navigate the Complicated World of CBD in Retail.”