THE NEXT FIVE YEARS FOR CANNABIS BEVERAGES
Though the marketplace for legal cannabis in the United States is a mere five years old, the sector is growing and evolving at a rapid clip. Currently valued at about $15.3 billion, BDS Analytics projects the legal cannabis category will see a 25% CAGR over the next four years, with a $29.5 billion valuation by 2022. Comparatively, cannabis beverages are only a sliver of that pie, projected to be worth $1 billion in 2022.
With much of the cannabis space still in constant flux, BDS Analytics VP of consumer insights Jessica Lukas closed out the second day of BevNET Live Summer 2019, held June 13 in New York City, by breaking down the state of the market for both THC and CBD beverages and offering her predictions for what the next five years of cannabis drinks look like. In her presentation, Lukas discusses how edibles have taken significant market share from flower, how consumers think about dosing, and how CBD drinks are poised to breach the mainstream through conventional channels.
INDUSTRY ALL-STARS HAVE SPOKEN AT BEVNET LIVE
Founder & CEO, GT’s Living Foods
GT Dave is the category creator of the Kombucha industry with his line of #1 selling products known as GT's Kombucha & Synergy. Over 20 years ago while he was barely a teenager, GT started brewing and bottling his authentic organic raw Kombucha in his parent's kitchen in Los Angeles. Since then, he has expanded his company's portfolio beyond Kombucha and has once again become a pioneer of cutting-edge wellness offerings including non-dairy kefirs, non-dairy raw coconut yogurts, probiotic shots, adaptogenic teas, and much more. GT continues to be the creative and visionary force behind all of GT's Living Foods while allowing the company to remain family-owned and operated.
Managing Partner, Boulder Investment Group Reprise
Carole Buyers is a Managing Partner at Boulder Investment Group Reprise (BIGR) a venture fund that invests in early-stage natural and organic food & beverage companies. Carole has been involved with investments & the natural foods industry for over 20 years. As one of the first analysts to cover Whole Foods, she has had a front row seat as the story of this now powerful sector has emerged. Carole has worked with RBC Capital on the sell-side and The Boston Company on the buy-side. In 2008, she left financial services, taking a leadership role in corporate finance and investor relations with Gaiam. In 2010, Carole joined Boulder Brands, Inc., to lead Investor Relations & Business Development. At Boulder Brands, Carole was responsible for the Company’s investor relations program, managing relationships and communications with the investment community. In addition, Miss Buyers managed mergers and acquisitions for Boulder Brands and identified and led the processes to acquire Udi’s, Glutino and EVOL. These acquisitions marked the initiation of the transformation of Boulder Brands to the natural foods powerhouse it is today. Carole was also one of three Directors of the Boulder Brands Investment Group (BBIG), an incubator fund which provided minority capital and helped natural food & beverage companies accelerate sustainable growth in the natural foods channel. Carole also enjoys time with her husband and children, music, yoga, running, tennis and golf.
Founder & CEO, Presence Marketing
Bill Weiland is the Founder, President and CEO of Presence Marketing/Dynamic Presence. Bill has committed his entire adult life to furthering the wellness lifestyle movement. It began with nearly a dozen years of working in the Natural Products Industry, in varied roles within the sales and retail sectors. Bill launched Presence Marketing in January, 1990. He is surrounded by a dedicated cast of creative and intelligent people who carry out the mission of bringing healthy products to consumers, with great energy, passion, and resolve. Bill’s uncompromising obsession for sustainable agriculture, healthy foods and integrated medicine are key drivers behind his commitment to continue building a world of clean products that everyone can have access to. Named by Forbes Magazine as one of the “Top 25 Most Influential “Kingmakers” in Consumer and Retailer Companies,” Bill Weiland has grown Presence Marketing/Dynamic Presence into the largest independent natural and organic products brokerage in the U.S. In working with leading national brands as well as successful startups, Bill has a keen eye on consumer and product trends driving the rapidly growing healthy lifestyles market. Bill also is a leading supporter of consumer transparency and GMO labeling.
Mike Repole has always been a big dreamer. His modest upbringing and close family ties fuel his drive as a serial entrepreneur. Surrounding himself with great people and developing great brands has become his proven formula for success. Having achieved success before in the food and beverage industry with the sales of glacéau vitaminwater to The Coca-Cola Company and Pirate’s Booty to B&G Foods, and an early investor and board member at KIND bar, Mike is once again looking to revolutionize a category and build the next megabrand. Mike is the founder and chairman of BODYARMOR, a premium sports drink that provides superior hydration to athletes demanding better-for-you products. Mike saw huge potential in the sports drink category for an innovation like BODYARMOR, and his passion and drive – and the opportunity to disrupt the $10 billion sports drink industry – led him to launch BODYARMOR in 2011. BODYARMOR has grabbed the attention of some of the top professional athletes in the country, including James Harden, Mike Trout and Dustin Johnson, all of whom hold an equity stake in the company. In 2013, Kobe Bryant made a significant investment in BODYARMOR, becoming one of the top shareholders – and in 2018 The CocaCola Company invested in the brand, making them the #2 shareholder behind Repole.
Maya French is a Co-Founder of Koia, the protein packed, 100 percent plant-based beverage that uses natural ingredients to deliver deliciously nutritious flavors. French struggled with food-based allergies, such as being lactose intolerant her whole life, until she discovered the benefits of plant-based proteins when college friend and fellow Koia Co-Founder, Dustin Baker, was testing out recipes in his Chicago kitchen. At this moment, French realized her calling was to create a functional product that would contribute to providing consumers with a healthier lifestyle. With only experience in journalism and fashion retail, French took a leap of faith into unknown territory to follow her dreams and partnered with Baker to launch Koia. Discovering an innovative dairy and soy-free option with a balance of high protein and low sugar made French look and feel better as she committed to a healthy diet change. After years of trials and customer research, she has become a natural foods industry expert and professional. Her focus now is on growing the Koia brand and driving awareness among consumers of how plant based, healthy lifestyle choices can benefit them. “As someone who is lactose-intolerant, there aren’t many protein products that aren’t dairy-based. I make it my personal mission as a co-founder to let everyone know they have Koia as an option,” French says. Besides being dairy-free, French’s favorite thing about Koia is that it is sweet but not high in sugar. “You can still have the taste profile you want without the guilt,” she comments. She is also a fan of how Koia uses only simple ingredients that consumers can actually recognize, making it clear what you're consuming every time you drink a Koia! With the help of French, Koia launched nationally at Whole Foods Market and quickly scaled to become the most productive refrigerated protein brands in the natural channel within 18 months of inception, and is now sold in 5,000 stores across the country.
General Manager, Oatly
Mike is the General Manager for OATLY leading all aspects of business and brand development in North America. OATLY makes vegan, plant based food and beverage products made out of oats and was originally founded in Sweden over 25 years ago. Prior to joining OATLY and launching it in the US, Mike held a variety of marketing and commercial roles at The Nature’s Bounty Co, Chobani, and PepsiCo. Before starting his career in CPG, Mike served as an Officer in the Navy in a variety of roles including nuclear engineering management on aircraft carriers. He has his MBA from Harvard Business School, a Masters in Engineering Management from Old Dominion University, and his undergraduate degree from Duke University. He lives in Manhattan with his wife and their dog.
Grocery Merchandising Coordinator, CSD, Kroger
In 2000, Andrea began her career with Kroger in Raleigh, NC, as a Management trainee. A couple of years later, she was promoted to Store Manger where she went on to manage several stores in the Raleigh area. In 2007, Andrea joined the Human Resources Team as the Division Recruiter for Management. Andrea recruited for Kroger’s Mid-Atlantic division until she was promoted to the Benefits and Administration manager. After working in this position for several years, Andrea had the opportunity to work in the Produce Department as a Sales Plan Manager. Then, in early 2012, Andrea was able to gain further knowledge of the operational side of the business when she was promoted to District Operations Coordinator. Andrea accepted a position as the District Manager in Little Rock, Arkansas in 2012. In 2016, Andrea joined the General Office team as a Division Promotional Coordinator. While working as a DPC, she worked very closely with the Louisville and King Soopers divisions. She was named to her current role in 2016.
Founder & CEO, Spindrift
Bill Creelman is the Founder of Spindrift Beverage Co., Inc. and serves as its Chief Executive Officer. Prior to Spindrift, Bill co-founded Stirrings which sold to Diageo in 2009. Bill grew up on a farm in Western Massachusetts where all the food was unprocessed, seasonal, and fresh. In 2010, he began making his own sparkling beverages to help him kick his fiendish Diet Coke habit. He wanted something refreshing with real ingredients he could pronounce and enjoy with his young family. After much trial and error, he achieved this by combining 2 simple ingredients: fresh fruit and triple-filtered sparkling water. He named it Spindrift. Today, Spindrift is made up of 75 passionate employees dedicated to changing the sparkling beverages. Spindrift is leading beverage into a new age of transparency and ingredient simplicity by offering no artificial sweeteners, no natural flavorings, and no essences. Spindrift was recently named to Inc. Magazine 500 fasting growing companies and 2 time recipient of Bevnet Product of the Year awards. Bill lives outside of Boston with his wife, Harley, and 4 kids.
NEXT CONFERENCE: BEVNET LIVE WINTER 2019 IN SANTA MONICA
The next BevNET Live conference takes place at the Loews Santa Monica Beach Hotel on December 9th and 10th. More than 800 beverage industry founder and executives come together to move their businesses forward and discover what's next for the industry. Plan ahead and secure your seat at the two-day conference. Early registration savings of $200 per ticket ends October 25th.