Hemp THC Players Debut New Products, Expand Distribution
December 17, 2024The hemp-derived THC market is in expansion mode, with new brands from major cannabis players and celebrities coming online in recent weeks, as well as established brands receiving major distribution gains. These products all are made with hemp-derived THC and are federally legal under the 2018 Farm Bill. Sold in dedicated shops and, where legal, alcohol retailers, the hemp-derived THC market has grown rapidly in 2024, with established brands being picked up by retail chains like Total Wine, Spec’s, and ABC. These new brands are aiming to capitalize on the category’s popularity and bring a variety of new consumers to the market.
Tilray Brands, a force in the Canadian cannabis market and a growing player in the American hemp-derived THC and beverage alcohol markets, has announced Herb & Bloom, a new line of hemp-derived THC drinks. The brand is inspired by classic cocktails and makes its debut with a trio of non-alcoholic cocktails, all containing 5-mg. of THC, in Margarita, Strawberry Daiquiri, and Peach Bellini flavors. Following the initial rollout, select markets will receive higher-potency 10-mg. variants of Herb & Bloom’s lineup.
“(Hemp THC) is legal in 17 states. It’s permitted with restrictions in 10 states. There are 14 states where it is absolutely prohibited and there’s certain states out there that are silent,” said CEO Irwin Simon at this fall’s 48th Annual Impact Marketing Seminar, acknowledging the patchwork of state laws regulating the new category. “A lot of exciting things are happening within Tilray. A lot of new innovation, a lot of new products.”
Actor Seth Rogen’s Houseplant cannabis brand has also expanded into hemp-derived THC with a new line of 3-mg. seltzers. The brand, founded by Rogen with partners Evan Goldberg and Michael Mohr, comes in four flavors—Pineapple, Citrus, Black Cherry, and Blackberry—and has launched in Total Wine plus DTC channels. Houseplant is available in 4-packs of 355-ml. cans that carry a suggested price of $20 a pack. The move adds to Houseplant’s cannabis stable, which covers flower, accessories, and other products. “Launching THC beverages in the U.S. was a natural step in our evolution as Houseplant grows and works to redefine what it means to participate in cannabis culture without the stigma,” said Mohr. “We are excited to be a part of this THC renaissance and look forward to bringing more products to market.”—Shane English
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