viewBevcanna Enterprises Inc.

BevCanna study finds more than 70% of Canadian consumers would buy CBD-infused beverages

An independent research group, which conducted the survey on behalf of BevCanna, polled over 2,000 adults of legal drinking age in the US and Canada

BevCanna specializes in cannabis-infused beverages

BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) announced Friday that a recent study found more than 70% of Canadian consumers would “definitely” or “probably” purchase CBD-infused beverages.

An independent research group, which conducted the survey on behalf of BevCanna, polled over 2,000 adults of legal drinking age in the US and Canada on their interest and preferences in current and potential cannabis products, according to a statement.

Results of the survey come as cannabis-infused beverages are expected to be legalized in Canada this October.

READ: BevCanna launches new CBD-infused beverage line to hit shelves in October

BevCanna will launch its first cannabis-infused beverage product, Anarchist Mountain Beverages, when legalization becomes official.

Those surveyed in Canada, New York and California were asked about their likelihood to purchase cannabis products, their preferred format (edibles, beverages, topicals, etc.) and most likely consumption occasions (pain relief, sleep aid, relaxation, etc).

BevCanna said the study found that more Canadians are aware of THC-based cannabis products, with smokable/combustible forms of cannabis (via joints, bongs and pipes) currently the most common methods of consumption.

Most interest in CBD-based beverages 

But it was CBD-based beverages that had the highest future purchase intent -- 70% among consumers. The study also found that consumers across all regions see CBD-infused beverages as contributing to a healthy lifestyle.

Among 25 product concepts, BevCanna said the top performing include ready-to-drink spring water-based beverages, which consumers see as complementary to their quality of life and contributing to their wellbeing.

The survey also noted that while Canadian consumers would also consider THC beverages as a means to relax and unwind, they tend to associate THC with consumption occasions such as hanging out with friends or social gatherings.

The study also found that 45% of Canadian consumers don’t associate cannabis with alcohol, viewing each as suitable for completely separate consumption occasions, BevCanna said.

Canadian consumers excited

The Vancouver-based company said the survey’s results show Canadian consumers are excited to try cannabis-infused beverages. 

“The opportunity for brand builders is to leverage clean ingredients, in compelling and crave-worthy beverages that appeal to a health-conscious consumer” said Emma Andrews, chief commercialization officer at BevCanna.

“Our research indicates that consumers are eager to try infused beverages to reduce/relieve pain, at the end of the day to relax or unwind, or to help them achieve a more restful sleep, even if there are limitations on health claims connected to recreational/adult-use products. Ultimately the product has to deliver on the expected outcome.”

BevCanna’s stock recently traded up 4.1% to C$0.38 a share in Canada.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Bevcanna Enterprises Inc.

Price: 0.25 CAD

Market: CSE
Market Cap: $16.45 m

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