PURCHASE, N.Y. – PepsiCo has confirmed that it’s researching the prospect of producing drinks containing cannabis, according to a report from Medical Express.
Hugh Johnston, CFO for the soda and snacks giant, told CNBC that management is taking a critical look at that area, but is not prepared to share any new product plans at this time.
As NACS Daily reported last month, Coca-Cola is reviewing the cannabis-infused beverage market, which is driven by the growing popularity of CBD, a nonpsychoactive component in marijuana.
While cannabis is still illegal under U.S. federal law, some states have legalized it. Canada will legalize cannabis on October 17 after both houses of Parliament voted to make the drug available for recreational use. Canada’s move is seen as a potential prelude to further legalization in the United States.
Currently, numerous companies are working to produce cannabis-infused drinks for what is anticipated to be a thriving market. Molson Coors has teamed with a Canadian company to develop nonalcoholic drinks with cannabis, and Constellation Brands is putting $4 billion into Canopy Growth, another Canadian cannabis company. In addition, Lagunitas, a Heineken craft-beer label, makes a beverage with THC, which is marijuana’s active ingredient and will give users a high.