CANADA: Sproutly Canada has completed the development and formulation of an initial portfolio of functional beverages with its proprietary naturally water soluble cannabinoids (“Infuz2O”).
The beverages combine recently licensed rights for the proprietary water soluble mineral platform (“MiST Platform”) with Infuz20. The initial portfolio consists of three separate cannabis / hemp infused beverages that provide the following functions: a) Focused Energy; b) Stress relief and Relaxation; and, c) Restful sleep support.
The Company is currently in the midst of medicinal and adult-use brand development, including its functional beverage line. The initial beverages are anticipated to be ready for consumers if and when Health Canada allows consumer beverage products to be legal for sale.
“The focus of the Company has been to develop products that will distinguish our functional beverages from cannabis/ hemp beverages developed by our competitors. Our competitive advantage is to leverage the suite of proprietary water soluble technologies we have acquired, and create a line of consumer products that taste great and have a functional purpose,” said Keith Dolo, Chief Executive Officer. “Our beverages not only cater to the emerging cannabis market, but also to the large, functional beverage market that exists today”, he added.
The functional beverage category is increasingly becoming the popular choice among consumers who are seeking low-calorie, nutrient-dense options as a healthy alternative to traditional beverages. The global functional beverage market is expected to grow at a CAGR of 6.1% to US$93.68 billion by 2019, according to a new study by Grand View Research, Inc. Cannabis in its own right has a long history of being used as a way for users to address wellness and lifestyle needs. Sproutly’s functional beverage formulations address major and growing consumer health and wellness needs for the modern lifestyle.