On October 24, 2024, Flora Growth Corp., a leading cannabis-focused consumer-packaged goods and pharmaceutical distributor, based in Fort Lauderdale, Florida, announced the launch of its first THC-infused beverage, Melo. This strategic move represents Flora’s entry into the rapidly expanding beverage market in the United States.
Melo, a premium THC-infused beverage, is the result of a collaboration between Flora Growth Corp. and Peak, a reputable provider of advanced cannabis-based products. The joint venture leverages Flora’s extensive marketing and distribution network with Peak’s cutting-edge emulsion technology to seamlessly integrate hemp-derived ingredients into beverage formulations. Melo is available in four refreshing flavors – grapefruit, half & half lemonade iced tea, strawberry mango, and wild berries.
Clifford Starke, Chief Executive Officer of Flora Growth Corp., highlighted the innovative approach behind Melo, emphasizing the combination of natural ingredients with scientific advancements to deliver a product that enhances everyday life. He noted that this launch signifies Flora’s commitment to redefining consumer expectations in the beverage industry by offering a unique and immersive experience through Melo.
The global beverage landscape is evolving, with the hemp-infused beverage segment emerging as a significant growth area, especially in the United States. The market for hemp beverages was valued at around $220 million in 2023 and is expected to exceed $1 billion by 2028, showcasing a compound annual growth rate of over 30%. This growth is driven by a rising demand for natural and functional beverages, as well as a favorable regulatory environment for hemp-based products.
Flora Growth Corp. has devised a comprehensive distribution strategy for Melo, aiming to reach consumers through multiple channels. The product will be initially available through traditional distribution channels across the United States, capitalizing on Flora’s strong relationships with key distributors. Additionally, Melo will be strategically positioned in liquor stores to attract consumers seeking non-alcoholic alternatives. Flora also plans to explore online and direct-to-consumer sales to enhance the brand’s accessibility.
It is important to note the forward-looking statements made in this press release, as they reflect Flora’s current expectations and projections but involve uncertainty and risk. Factors such as market dynamics and regulatory changes may impact the actual outcomes or results. Flora Growth Corp. remains committed to providing updates and revisions to these statements as required by law.
For more information on Flora Growth Corp. and its products, visit their website at www.floragrowth.com. For the original source of this press release, visit https://www.newsfilecorp.com/release/227657.
