As Canada’s marijuana legalization date draws closer, a growing number of mainstream companies are testing the waters to see if taking a dip in the cannabis oil is right for them.
Coca-Cola, Pepsi, and some alcohol manufacturers have shown interest in the market over the past several year, and Molson Coors recently closed a deal with the Hydropothecary Corporation (Hexo) to manufacture cannabis beverages.
Companies like Coca-Cola are taking a particular interest in cannabidiol (CBD) as a wellness beverage ingredient due to its therapeutic properties and lack of psychoactive effects.
According to research by the Brightfield Group, hemp-derived CBD products are projected to fuel a $22 billion industry, possibility overshadowing the THC market by 2022.
The Canadian division of Walmart Incorporated said Tuesday that it has been exploring the possibility of stocking cannabis products in their stores sometime after legalization commences on October 17.
“As we would for any new industry, Walmart Canada has done some preliminary fact-finding on this issue,” said company spokeswoman Diane Medeiros in an email. “But we do not have plans to carry CBD products at this time.”
Walmart’s [WMT US: NYSE] shares rose 2.5% to $97.23 by early afternoon Tuesday following news of their possible interest in the Canadian cannabis market.
