STONEHAM, Mass., Feb. 18, 2021 /PRNewswire-PRWeb/ -- East Coast cannabis leader, Theory Wellness, 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. Hi5, a cannabis infused seltzer, offers zero-calories, all-natural flavors, and rapid on-set effects, providing consumers 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 a $1.15B (1) 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," remarks 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 decline by nearly 15% in legalized cannabis markets (2), Hi5 offers an alternative to alcohol with the benefit of control over the effects of THC. The rapid on-set, 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.
About Theory Wellness, Inc: Theory Wellness, Inc. is a vertically integrated cannabis cultivation, retail, and product manufacturing company headquartered in Stoneham, MA. Theory operates multiple cultivation and retail locations in Massachusetts and Maine. All products are manufactured in their state of the art facilities in small batches.
Thomas Winstanley, Theory Wellness, +1 4138229054, [email protected]
Jenn Gomez, Theory Wellness, 413-200-9899, [email protected]
SOURCE Theory Wellness