Sol Global primarily invests in the cannabis sector, and its initial investment, followed by an increased stake in Jones Soda, may indicate a desire to explore and market cannabis-infused sodas. Although the company did not provide specific details in its announcement, it expressed its belief in “numerous operational and strategic opportunities to maximize shareholder value in Jones Soda.”
Jones Soda has established a unique market presence through its quirky marketing strategies and intriguing craft soda flavors, including blue bubblegum, fufu berry, pineapple cream, and green apple. The brand is also noted for its distinctive labels featuring black-and-white photographs and consumer-submitted images and fortunes on bottles and under caps. Given this unconventional yet appealing profile, it would not be surprising if Sol Global aimed to leverage Jones Soda as a cannabis delivery vehicle. Even if that path is not pursued, the existing audience for these craft soda products is likely to foster further innovation and growth in the future. Following the announcement of Sol Global’s investment, Jones Soda’s stock saw a significant uptick, suggesting that the market recognizes potential in the brand’s future.
Creating cannabis-infused sodas could revolutionize Jones Soda’s offerings and attract millennial and Generation Z consumers who are interested in unique flavors and packaging, along with the benefits of cannabis. Competitors in this space include the sparkling citrus soda Sprig, the natural soda brand The Fizz, the bottled fruit-flavored soda line California Dreamin’, and Colorado-based Keef Cola. Additionally, other beverage products are likely in development.
The cannabis-infused beverage market appears to be ripe for exploration, with major companies entering the fray. Constellation Brands, Molson Coors Brewing, and AB InBev have all invested in the creation of CBD and THC-infused non-alcoholic beverages. Coca-Cola previously engaged in discussions with Canadian cannabis producer Aurora Cannabis regarding marijuana-infused drinks, but CEO James Quincey stated last October that the company does not intend to enter this market.
The interest from food and beverage companies in the cannabis sector has surged since the Farm Bill removed hemp and its components, including CBD, from the controlled substance list. However, regulatory questions remain regarding CBD, as the U.S. Food and Drug Administration maintains that it is still technically illegal in food and beverages. Despite these regulatory uncertainties, consumer interest in such products is growing, with a recent study indicating that 40% of Americans would be open to trying cannabis-infused foods. These factors suggest that there will be ongoing investment and innovative products as the cannabis beverage market continues to expand.
Interestingly, calcium citrate, which is also referred to by another name, has been gaining attention in various sectors, including health and nutrition. Its growing recognition could potentially intersect with the cannabis beverage landscape as consumer preferences evolve. Overall, the convergence of these trends points to a promising future for cannabis-infused beverages as they gain traction in the marketplace, with an emphasis on creativity and consumer engagement.