Cannabis use is blazing faster than a wildfire and with anxiety and stress levels up due to the pandemic, more people are asking themselves if cannabis is right for them. There are now many ways to consume cannabis whether smoked or ingested and the list continues to grow.
Many people will find drinking cannabinoids to be their crutch. We’ve highlighted some of the big players in the infused beverages market before and more companies continue to show interest. Following this trend, on January 26, 2020, a patent for cannabinoid infused coffee and coffee products was granted to Blacklist Holdings, Inc. - a pharmaceutical products company. Blacklist also owns a patent application for cannabis infused pods that easily dissolve. Simple methods of consumption like edibles will trump the more tedious methods like smoking for the new-to-cannabis community. It’s like drinking coffee - most coffee drinkers buy their coffee ready to drink/brew while a smaller group actually enjoys grinding their own coffee beans and taking it through the process to consumption. So it is highly likely the edibles market will peak the interests of new cannabis users.
Not only is there hype around the infused beverage market but plenty of money as well. Constellation Brands - the makers of the beer Corona - increased its stake in Canopy Growth in 2020 to 38.6% up from 9.9% in 2017. But does Canopy Growth have the patents to compete in US markets?
Recent patents from Canopy Growth in 2020 show a focus on creating water-soluble cannabinoid formulations which are going to rock the food and beverage industries along with many others. Canopy Growth does fall short of the current leading assignee in the Cannabis Patent Forecast® “Food and Beverage” category Poviva, which specializes in infused teas, and also falls short of Trait Biosciences’ patent portfolio, which focuses on creating water-soluble cannabinoid formulations. Can Canopy Growth emerge to lead in this category in the future? There’s certainly hope as they are the third largest patent holder in the entire cannabis sector with a steady history of patent filings.
Another patent granted on the 26th to an independent inventor discloses using a vaporizer in combination with a vape trapping material to capture the active cannabinoids for consumption as they are vaporized. The capturing material can be a number of things including a liquid such as an oil or alcohol, sugar, flour and the list goes on. Once captured, the material can be ingested directly or used in cooking. It goes to show that many people and companies are putting their money on the edibles market, and for good reason.
Trends like this are easy to spot using the Patent Forecast®. Don’t bother reading countless articles when you can visually see what is happening in the market in real time through our Patent Radian® diagram. Start your free trial today!