Page 20 - Ameft Journal 2021-III

F O (Source: HRS Heat Exchangers) FO C C U US SB B E EV V E E R RA A G GE ES S Cannabis drinks market scales up As with any new and developing market, there are a number of start-up companies without a tradi- tional food manufacturing background, some of whom will be more successful than others. However, while some of the hype around the market and the products is reducing, there is no doubt about the potential for profit. Those companies which want to have long-term success will need to efficiently scale-up production while maintaining the physical and chemical characteristics which make their prod- ucts unique and desirable. Learning from existing beverage manufacturers about the best processing options for pasteurization, cooling or filling will be essential to achieving prolonged success. What is CBD? CBD (cannabidiol) is a chemical ex- tracted from hemp and marijuana plants (Cannabis sativa L.). While CBD is an active ingredient in cannabis, it does not cause the ‘high’ or psychoac- tive effects associated with the chemi- 20 AMEFT 3 2021 cal THC (tetrahydrocannabinol) which is also found in the plants. CBD used for food and drink products is usually taken from hemp oil due to the lower levels of THC. Although medi- cal studies are inconclusive, some of the claimed benefits of CBD include reduc- ing inflammation, improving relaxation and better focus. With so much poten- tial, it is easy to see why many are hailing hemp as the next superfood. In general, the term hemp refers to low-THC forms of cannabis, which are still capable of producing CBD and other cannabinoid compounds, as op- posed to high-THC forms, commonly known as marijuana. As well as refer- ring to the botanical name of the plant, the term cannabis describes a drug which contains numerous compounds including CBD and THC. For product manufacturers and developers, the challenge is to provide the positive benefits of CBD without the other neg- ative effects of cannabis. Market opportunities Around the world projected valua- tions for the recreational CBD products (as opposed to medical markets) have recently been revised downwards as investors begin to workout which start- ups are feasible long-term businesses and which have no experience and no revenue. However, the demand is clear. For example, in US states where cannabis is legal for recreational use, drinks make up 15% of purchased can- nabis products, and around the world one-in-four consumers say they would be willing to try cannabis-infused drinks*. However, even with such healthy scepticism, the global cannabis drinks market is predicted to treble in value by 2024, reaching US$1.82bn by the end of 2020, and US$5.8bn within four years. This growth is seen across every segment of the drinks industry, from alcoholic drinks to wellness beverages and everyday drinks like tea and coffee. Large global brands including AB InBev and Molson Coors have announced plans to produce CBD-containing prod- ucts, and while the global impacts of Covid-19 have slowed some aspects of www.ameft.com