Theory Wellness Enters Cannabis Beverage Market
Theory Wellness, Berkshire County's first recreational marijuana shop, is entering the rapidly growing infused beverage category with their new project: Hi5.
The emergence of cannabis beverages on the East Coast is an extension of the booming THC-infused beverage trend at which Theory Wellness, headquartered in Stoneham, is at the forefront.
Hi5, is cannabis-infused seltzer, containing zero-calories, all-natural flavors, and rapid on-set effects, provides consumers with a new way to enjoy cannabis. Unlike other forms of cannabis, the social aspect of an infused beverage offers a direct, healthier alternative to alcohol.
Hi5, aptly named for helping you feel good in five minutes, represents a new product category in the East Coast cannabis market. In 2020, the market size of cannabis-infused beverages in North America soared to $1.15B in annual sales, supported by a 45% compound annual growth rate. As consumers look for healthier and safer alternatives to alcohol, products like Hi5 are poised to become increasingly popular.
“We’re always looking for new ways to innovate, and beverages have been a long-running interest of ours,” said Brandon Pollock, CEO of Theory. After years of planning and construction, they recently opened a new cultivation and production facility that includes a state-of-the-art canning line to accommodate an expected demand for millions of cans per year. “Massachusetts has long been a leader in the beverage market, with Sam Adams launching the craft beer movement, Polar seltzers, even going back to the Boston Tea Party! We’re excited to continue that legacy,” shares Pollock.
Contributing to the trend that alcohol sales declined by nearly 15% in legalized cannabis markets, Hi5 offers an alternative to alcohol with the benefit of control over the effects of THC. The rapid onset, coupled with a modest 5mg. dose per drink, is different from conventional edibles, which can take 45 minutes or more to feel the effects of. “For a consumer to have control over how cannabis makes them feel in the same way they do with a beer or a glass of wine, Hi5 makes cannabis more approachable than ever, especially for newer cannabis consumers. We think customers are going to love it.”
The cannabis beverage market is projected to reach a 2.8B 3 value by 2025, and Hi5 intends to be a part of that change, bringing in a new age of cannabis consumption to the East Coast.
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