Snoop Dogg invests in functional beverages and paves the way for new cannabis products

The entertainment icon and entrepreneur Snoop Dogg announced on Wednesday (05) his strategic partnership with Harmony Craft Beverages. Together, we launched Iconic Tonics, a new premium functional beverages brand. The goal is to reshape a category and redefine beverage alternatives for adults.

A new category of functional beverages

The global functional beverages market is expected to reach $200 billion by 2030, driven by the search for healthier alternatives to alcohol and sodas. Among the partnership's bets are Do It Fluid and Doggy Spritz, infused with tetrahydrocannabinol (THC) and hemp.

"Consumers are no longer seeking alcoholic or sugary drinks — they want functionality, flavor, and experience. With Snoop's cultural reach and our ability to develop innovative beverages, we are ready for the next market evolution.", said Evan Eneman, co-founder and CEO of Iconic Tonics.

Snoop Dogg believes that functional beverages are the next sensation. "With Harmony Craft Beverages, we are ready to deliver something new. This goes beyond a brand, it's a lifestyle," said the entrepreneur.

The growth of cannabis in the beverage market

Another announcement that caught the market's attention was the partnership between Curaleaf Holdings and Total Wine & More, a leading retailer of wines, spirits, and beers. The alliance aims to expand the distribution of their hemp-derived THC seltzers Select Zero Proof in over 100 US stores.

These beverages offer a quick THC experience, without a hangover, and are available in 2.5 mg and 5 mg THC doses, in various flavors. Boris Jordan, CEO of Curaleaf, emphasized:
"Attitudes towards beverage consumption are changing, and many consumers are seeking non-alternative options. Our partnership with Total Wine & More strengthens our mission to offer rigorously tested THC products".

With information from PR Newswire