The CBD product market is already a $1 billion market and has staying power and is not anticipated to experience slowed growth at any point in the near future.
US based AppYea, Inc. has announced that is has entered into an exclusive CBD infused beverage licensing agreement with ProutyCo. The CBD infused beverage product line in development is based on four categories which are energy, focus, calm, and sleep. These are known as functional beverages and are a brand-new class of product.
CBD-infused beverages are expected to become a $260 million market by 2022. The global carbonated soft drinks market is projected to reach $605.6 Billion by 2025, according to a March 2018 report by Grand View Research, Inc. The global soft drink market, in another study, is forecast to grow at a CAGR of 5.62% through to 2021. CBD-based beverages are garnering all of the attention due to the recent headlines of Coca-Cola potentially getting involved in the space, but the reality is there are a number of CBD-based products that are already generating consistent and strong revenues on a daily basis. The CBD product market is already a $1 billion market and has staying power and is not anticipated to experience slowed growth at any point in the near future.
“We are very excited about our relationship with AppYea and look forward to providing a broad range of products and services to drive revenues across multiple channels and demographics,” said Phil Prouty, President and CEO of ProutyCo.
“We are excited about the revenue potential for this new line of CBD infused beverages and working with ProutyCo. These and other CBD based products will be sold and marketed under a new brand to be announced in the near future,” says Doug McKinnon, CEO of AppYea.