Flora Growth Corp. Completes Build-Out of Specialized Beverage Facility, Marking Entry into the $220 Million Beverage Market
Flora Growth Corp. (NASDAQ: FLGC) has completed its specialized beverage facility, marking its entry into the $220 million beverage market. The facility incorporates Peak's proven technology, ensuring high-quality products and a competitive edge. With over 100 formulations, Flora aims to power major cannabis brands, replicating Peak's success in Canada, where it produces nearly 40% of cannabis beverages.
The THC-infused beverage market is rapidly growing, representing 2.1% of the Canadian adult-use cannabis market (CAD$134.4 million). In the U.S., beverages account for 1% to 3% of the cannabis market, with significant growth potential. Data Bridge Market Research projects the U.S. infused beverages market to reach half a billion by 2030, growing at a CAGR of 14.7%.
Flora's facility will produce beverages for its Melo brand and others, enabling strategic distribution agreements. The company's joint venture with Peak, formed in June 2024, combines Peak's production expertise with Flora's brand launching and marketing capabilities in the U.S.
Flora Growth Corp. (NASDAQ: FLGC) ha completato il suo impianto specializzato per le bevande, segnando il suo ingresso nel mercato delle bevande da 220 milioni di dollari. L'impianto integra la tecnologia collaudata di Peak, garantendo prodotti di alta qualità e un vantaggio competitivo. Con oltre 100 formulazioni, Flora punta a supportare i grandi marchi di cannabis, replicando il successo di Peak in Canada, dove produce quasi il 40% delle bevande a base di cannabis.
Il mercato delle bevande infuse di THC sta crescendo rapidamente, rappresentando il 2,1% del mercato canadese delle cannabis per uso adulto (CAD$134,4 milioni). Negli Stati Uniti, le bevande rappresentano dall'1% al 3% del mercato della cannabis, con un potenziale di crescita significativo. Data Bridge Market Research prevede che il mercato delle bevande infuse negli Stati Uniti raggiunga mezzo miliardo entro il 2030, crescendo a un CAGR del 14,7%.
L'impianto di Flora produrrà bevande per il suo marchio Melo e altri, consentendo accordi strategici di distribuzione. La joint venture dell'azienda con Peak, formata a giugno 2024, combina l'expertise produttiva di Peak con le capacità di lancio e marketing del marchio di Flora negli Stati Uniti.
Flora Growth Corp. (NASDAQ: FLGC) ha completado su instalación especializada de bebidas, marcando su entrada en el mercado de bebidas de 220 millones de dólares. La instalación incorpora la tecnología probada de Peak, asegurando productos de alta calidad y una ventaja competitiva. Con más de 100 formulaciones, Flora tiene como objetivo impulsar las principales marcas de cannabis, replicando el éxito de Peak en Canadá, donde produce cerca del 40% de las bebidas de cannabis.
El mercado de bebidas infusionadas con THC está creciendo rápidamente, representando el 2,1% del mercado canadiense de cannabis para adultos (CAD$134,4 millones). En EE. UU., las bebidas representan entre el 1% y el 3% del mercado de cannabis, con un potencial de crecimiento significativo. Data Bridge Market Research proyecta que el mercado de bebidas infusionadas en EE. UU. alcanzará medio mil millones para 2030, creciendo a una tasa compuesta anual del 14,7%.
La instalación de Flora producirá bebidas para su marca Melo y otras, permitiendo acuerdos estratégicos de distribución. La empresa formó una empresa conjunta con Peak en junio de 2024, combinando la experiencia en producción de Peak con las capacidades de lanzamiento y marketing de marcas de Flora en EE. UU.
플로라 성장 주식회사(나스닥: FLGC)는 220억 달러 규모의 음료 시장에 진입하며 전문 음료 시설을 완공하였습니다. 이 시설은 피크의 검증된 기술을 통합하여 고품질 제품을 보장하고 경쟁력을 확보합니다. 100가지 이상의 포뮬레이션을 보유한 플로라는 주요 대마 브랜드를 지원할 예정이며, 캐나다에서 피크가 생산하는 대마 음료의 거의 40%에 해당하는 성공을 재현할 것입니다.
THC 주입 음료 시장은 빠르게 성장하고 있으며, 캐나다 성인용 대마 시장의 2.1%를 차지하고 있습니다(CAD$134.4백만). 미국에서는 음료가 대마 시장의 1%에서 3%를 차지하며, 상당한 성장 잠재력을 가지고 있습니다. 데이터 브릿지 마켓 리서치는 미국의 주입 음료 시장이 2030년까지 5억 달러에 이를 것으로 예상하며, 연평균 성장률은 14.7%입니다.
플로라의 시설은 멜로 브랜드와 기타 브랜드를 위한 음료를 생산하여 전략적 유통 계약을 가능하게 합니다. 2024년 6월에 형성된 플로라와 피크의 합작 투자 회사는 피크의 생산 전문성과 플로라의 브랜드 출시 및 마케팅 능력을 결합합니다.
Flora Growth Corp. (NASDAQ: FLGC) a achevé son installation spécialisée pour les boissons, marquant ainsi son entrée sur le marché des boissons de 220 millions de dollars. L'installation intègre la technologie éprouvée de Peak, garantissant des produits de haute qualité et un avantage concurrentiel. Avec plus de 100 formulations, Flora vise à soutenir les grandes marques de cannabis, reproduisant le succès de Peak au Canada, où il produit près de 40% des boissons à base de cannabis.
Le marché des boissons infusées au THC connaît une croissance rapide, représentant 2,1% du marché canadien du cannabis à usage adulte (CAD$134,4 millions). Aux États-Unis, les boissons représentent 1% à 3% du marché du cannabis, avec un potentiel de croissance significatif. Selon Data Bridge Market Research, le marché des boissons infusées aux États-Unis devrait atteindre 500 millions de dollars d'ici 2030, avec un CAGR de 14,7%.
L'installation de Flora produira des boissons pour sa marque Melo et d'autres, permettant des accords de distribution stratégiques. La coentreprise de l'entreprise avec Peak, formée en juin 2024, combine l'expertise de production de Peak avec les capacités de lancement et de marketing de la marque de Flora aux États-Unis.
Flora Growth Corp. (NASDAQ: FLGC) hat seine spezialisierte Getränkeanlage fertiggestellt und markiert damit den Eintritt in den 220-Millionen-Dollar Getränkemarkt. Die Anlage integriert Peak's bewährte Technologie, die hochwertige Produkte und einen Wettbewerbsvorteil gewährleistet. Mit über 100 Formulierungen zielt Flora darauf ab, größere Cannabismarken zu unterstützen und den Erfolg von Peak in Kanada nachzuahmen, wo fast 40% der Cannabisgetränke produziert werden.
Der Markt für mit THC angereicherte Getränke wächst schnell und macht 2,1% des kanadischen Marktes für Cannabis zum Freizeitgebrauch aus (CAD$134,4 Millionen). In den USA machen Getränke 1% bis 3% des Cannabismarktes aus, mit erheblichem Wachstumspotenzial. Data Bridge Market Research prognostiziert, dass der Markt für angereicherte Getränke in den USA bis 2030 eine halbe Milliarde erreichen wird und mit einer jährlichen Wachstumsrate von 14,7% wächst.
Die Anlage von Flora wird Getränke für ihre Marke Melo und andere produzieren, was strategische Vertriebsvereinbarungen ermöglicht. Das Joint Venture des Unternehmens mit Peak, das im Juni 2024 gegründet wurde, kombiniert Peaks Produktionsexpertise mit Floras Fähigkeiten im Markenlaunch und Marketing in den USA.
- Completion of specialized beverage facility on time and on budget
- Entry into the $220 million beverage market
- Incorporation of Peak's proven technology for high-quality products
- Capability to produce over 100 formulations
- Joint venture with Peak to leverage strengths in the U.S. market
- Potential to replicate Peak's success in Canada (40% market share)
- Projected growth of U.S. infused beverages market to half a billion by 2030 (CAGR 14.7%)
- THC-infused beverages currently represent only 1% to 3% of the U.S. cannabis market
Insights
The completion of Flora Growth Corp's specialized beverage facility marks a significant milestone in the company's strategy to enter the rapidly growing THC-infused beverage market. With an estimated
Key points to consider:
- The facility incorporates proven technology from Peak, potentially giving Flora a competitive edge in product quality and innovation.
- THC-infused beverages currently represent only
1% to3% of the U.S. cannabis market, indicating significant room for growth. - The joint venture with Peak combines production expertise with Flora's brand launching and distribution capabilities, potentially accelerating market penetration.
- Flora's existing e-commerce platform with 350,000 customers provides a strong foundation for product distribution.
While the potential is promising, investors should note that the cannabis beverage market is still nascent and faces regulatory challenges. Flora's success will depend on effective execution of its strategy and consumer adoption rates of THC-infused beverages as alcohol alternatives.
New Facility Employs Proven Technology from Peak to Deliver Product Quality and Competitive Edge in the Rapidly Expanding THC-Infused Beverage Sector
Fort Lauderdale, Florida--(Newsfile Corp. - October 22, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") today announced the completion of its specialized beverage facility and receipt of requisite permitting, on time and on budget. This milestone facilitates Flora's entry into the beverage market.
Technology Proven in the Canadian Market
"Our new specialized beverage facility is a game-changer for Flora and the U.S. beverage market as a whole," said Clifford Starke, Chief Executive Officer. "By incorporating Peak's proven technology, we are not only ensuring the highest quality of our products but also creating a competitive advantage. This facility allows us to innovate and respond quickly to market demands, solidifying our position in the space. The Company's goal is to replicate the success of Peak's Canadian business in the United States." The facility's capabilities include over 100 formulations. The Company aims to power the biggest and most recognizable brands in the cannabis sector.
Peak estimates that it produces close to
A Growing Market Seeking Alternatives
Mr. Starke noted, "it is great to see multi-state operators entering the cannabinoid space, further validating the significant opportunities that exist in the hemp and cannabis markets. Over the short-term, premium retailers like Total Wine and ABC have dedicated THC-infused sections. The sector has exploded and timing could not be better to focus on beverages right now."
According to Headset Data, beverages still represent only about
As the THC-infused beverage market continues to grow, with consumers increasingly seeking alternatives to alcohol, the quality and consistency of products will be a key differentiator. Flora's specialized beverage facility is designed to meet these demands by producing beverages that offer stability, faster onset times, and better overall consumer experiences.
Looking Ahead: Expansion and Market Impact
"The completion of our specialized beverage facility marks the beginning of an exciting new chapter for Flora. We are now positioned to bring to market a portfolio of beverages that not only meet but exceed consumer expectations," said Clifford Starke, Chief Executive Officer.
With the completion of this facility, Flora is poised to scale production and accelerate its entry into the U.S. THC-infused beverage market. The facility will provide the necessary emulsion to the Company's Melo brand and other brands in the pipeline. It will also enable the Company to enter strategic distribution agreements.
In June 2024, the Company entered a joint venture with Peak. The joint venture will leverage the strengths and resources of both Peak and Flora to capitalize on current commercial opportunities in the beverage market in the U.S., driving mutual growth and success. Peak contributes production know-how, while Flora brings a wealth of brand launching, sales and marketing expertise within the dynamic landscape of lifestyle brands in the U.S. Flora has introduced some of best-selling gummies, edibles, vapes and accessories in the U.S. through its e-commerce platform of over 350,000 customers and a robust business-to-business distribution network.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
https://www.phatebo.de/home-en
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Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Flora's adoption of the emulsion technology positions the Company to replicate this success in the United States, the Company's goal of replicating the success of Peak's Canadian business in the United States, including it creating a competitive advantage, the facility allowing Flora to innovate and respond quickly to market demands, solidifying its position in the space, the joint venture leveraging the strengths and resources of both Peak and Flora to capitalize on current commercial opportunities in the beverage market in the U.S., Flora being poised to scale production and accelerate its entry into the U.S. THC-infused beverage market, the facility providing the necessary emulsion to the Company's Melo brand and other brands in the pipeline, the facility enabling the Company to enter strategic distribution agreements, power the biggest and most recognizable brands in the cannabis sector, and driving mutual growth and success or at all. This facility allows us to innovate and respond quickly to market demands, solidifying our position in the space Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227385
FAQ
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