SOL Global Investments grabbed a stake of Jones Soda last month
In March, SOL Global Investments purchased a piece of the Jones Soda beverage company. The cannabis investment firm grabbed a 9.8% stake in the beverage manufacturer, and the move was seen as an expansion of SOL’s investment portfolios into the world of cannabis-infused drinks. Although there had not been an official announcement that Jones was offering cannabis drinks, the fact that SOL only invests in cannabis companies was a pretty obvious indicator. It was also seen as a positive for the marijuana stock market, which almost immediately responded.
Jones Soda is a craft soda brand that offers unique drinks with quirky flavors. The beverages are designed to appeal to millennials and post-millennial customers and cannabis-infused beverages are right in line with both market segments. If Jones were to get into the cannabis soda market, there’s little doubt that it would quickly rise to control a large part of the non-alcoholic cannabis beverage market.
There has been some discussion that Coca-Cola and/or Pepsi could get in on the action, as well. However, they both have taken a “wait-and-see” approach, given the current federal regulations regarding cannabis. Without access to the major U.S. market, most large retail corporations are shying away from cannabis while the craft retailers can afford to be more flexible.
According to a study from last year, as many as 41% of U.S. consumers have indicated they’re interested in at least trying cannabis-infused beverages and foods. This is a substantial market to target and the cannabis beverage market is expected to reach at least $4.5 billion within the next six years. With SOL already getting involved, it’s an indication that progress is being made and the new cannabis beverage market could arrive sooner than expected.