How Big Brands Are Changing the Cannabis Game

The cannabis industry has evolved from a niche market to a significant economic player. As legalization spreads across the globe, major brands are starting to take notice. With the green rush in full effect, many well-known companies from various sectors are entering the cannabis market, eager to secure their portion of this rapidly growing industry.

In the past, cannabis was often associated with small growers, local shops, and specialized products. However, the landscape is changing as multinational corporations from food and beverage to cosmetics and pharmaceuticals are making their move. These industry giants not only bring substantial financial resources but also years of expertise in branding, marketing, and distribution, which could revolutionize the cannabis market.

Why Major Brands Are Investing in Cannabis

The surge in cannabis popularity is not merely about introducing a new product; it reflects a significant change in consumer preferences. Here are the main reasons why large brands are entering this space:

Increasing Consumer Interest: Modern consumers are more health-oriented, looking for natural alternatives to conventional medications, alcohol, and beauty products. Cannabis, especially CBD, aligns perfectly with this trend. It’s no surprise that wellness, beauty, and food brands are keen to meet this rising demand.

Legalization Drives Market Expansion: With recreational cannabis now permitted in many U.S. states and entire countries like Canada, it has entered the mainstream. Brands are excited to broaden their offerings in a market projected to grow from $13.5 billion in 2022 to over $45 billion by 2027.

Innovation and New Product Opportunities: Major brands excel in innovation, and cannabis presents a fresh opportunity for product creation. From CBD-infused drinks and edibles to skincare treatments and topical applications, these companies are exploring new and exciting products that appeal to a wide range of consumers.

Major Brands Entering the Cannabis Market

Let’s take a closer look at some of the household names making waves in the cannabis space:

1. Coca-Cola and Canopy Growth

Coca-Cola, known for its iconic beverages, has explored partnerships with Canopy Growth Corporation, a leading cannabis producer, to develop cannabis-infused drinks. While there’s no product on the shelves yet, this collaboration signals Coca-Cola’s intent to enter the CBD space. The beverage giant sees the growing demand for functional drinks and is eager to experiment with cannabis-based options.

2. Molson Coors and HEXO Corporation

In 2020, Molson Coors, one of the world’s largest beer makers, entered the cannabis market by teaming up with HEXO Corporation. Their joint venture, Truss Beverage Co., has since launched a series of cannabis-infused beverages in Canada, showing how the alcohol industry is eyeing cannabis as an alternative or complement to traditional drinks.

3. Unilever and Sundial Growers

Unilever, a global leader in personal care products, made a bold move into the cannabis market by acquiring Sundial Growers, a Canadian cannabis producer. This strategic acquisition is set to bolster Unilever’s product portfolio with CBD-infused skincare and wellness items, tapping into the growing beauty and wellness sector.

4. Pharma Giants: Pfizer and GSK

Pharmaceutical giants like Pfizer and GlaxoSmithKline (GSK) are also stepping up. GSK, in particular, has entered the CBD market in partnership with Canadian cannabis company Aphria, aiming to develop over-the-counter CBD products for the wellness market. These companies are looking to capitalize on the proven medical benefits of CBD, which has been linked to pain relief, anxiety reduction, and improved sleep.

The Future of Cannabis: What’s Next?

As the industry evolves, the entry of major brands is set to accelerate cannabis's journey into the mainstream. However, challenges remain. Regulatory issues, persistent stigma, and volatile markets are significant hurdles. Nevertheless, these well-known companies provide essential legitimacy and infrastructure, aiding the sector's development into a well-regulated, global industry.

We can anticipate a wave of innovations, ranging from sustainable farming techniques to advanced product offerings. The outlook for the cannabis sector is exceptionally promising, with major brands fueling growth, competition, and consumer options.

For those involved in the cannabis industry, this is a time filled with opportunities as the market continues to expand and diversify. At Get Glass Distribution, we are committed to staying ahead by providing high-quality cannabis accessories to retailers, enabling businesses to thrive in this exciting era of cannabis culture and innovation.