Pepsi’s in on the cannabis beverage market

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The soft drink giant isn’t going to miss out on the CBD drink craze

Move over Coca-Cola, you’re not the only soda company looking at making a CBD splash. PepsiCo announced yesterday that it is investigating the feasibility of entering the cannabis market and might consider offering its own CBD-infused beverages.

Speaking during an interview with CNBC, PepsiCo CFO Hugh Johnston explained, “I think we’ll look at it critically, but I’m not prepared to share any plans that we may have in the space right now.”

The Coca-Cola Company has already announced that it was interested in getting into the game with its own cannabis products. It said last month, “Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”

The soft drink giants aren’t alone. However, while they are just in the preliminary phases of their investigations, other companies are already looking to pull the trigger. Just last week, Denver, CO-based Molson Coors announced that it would soon be introducing an array of marijuana-infused products, including teas, seltzers and beers.

This is just the beginning of what could ultimately become, by some estimates, a $600-million market within four years. Given the need to always innovate and stay ahead of the competition, CBD beverages are going to see a growth explosion by a number of companies, all providing their own creative alternatives and looking to grab as much of the market as possible.