Less than two years after entering the cannabis space, Molson Coors Beverage Co. has decided to discontinue its line of CBD sparkling water in the United States.
Veryvell debuted exclusively in Colorado in January 2021 with three flavors infused with 20 milligrams of CBD per 12-ounce can. Truss USA, the Molson Coors subsidiary that owns the brand, created the beverages with CBD derived from hemp – not marijuana – meaning they were legally able to be sold across the United States. (In Canada, Truss sells Veryvell with tetrahydrocannabinol, or THC, the psychoactive compound in marijuana.)
However, the stigma around cannabis stymied Veryvell, said Molson Coors spokesperson Adam Collins, leading to the company’s decision to discontinue the products by the end of 2022.
“The U.S. cannabis landscape has evolved significantly since we launched Truss US, but it does not appear there is a pathway to federal legalization in the near term. This uncertainty has left some chain retailers and some distributors hesitant to accept even CBD beverage brands,” Collins said in an emailed statement. “While we entered this business in a smart way, it’s going to be very difficult to scale in the short term, making the path to profitability a challenge.”
Manufacturers have flooded the market with CBD beverages in recent years in hopes of reaching a growing number of sober-curious consumers and being embraced in the wellness category. Consumers can now find CBD in a variety of…