Tilray Brands Inc. has unveiled its newest product offering from their cannabis lifestyle brand, RIFF - two ready-to-drink, sparkling THC beverages: Blue Raspberry Ice and Wild Raspberry Lemonade.
Summer Twist with THC
Toronto, Canada--RIFF's novel cannabis-infused beverages pair fruity notes with sweet and natural flavors, providing a pleasant taste experience without any noticeable cannabis aftertaste.
The company's news release highlighted the fast-acting, nano-emulsified THC in these beverages, which provides quick onset of effects and uniform ingredient dispersion, ensuring a unique refreshment experience ideal for any solo or social occasion.
In the release, President of Tilray Canada, Blair MacNeil shared his excitement about this new venture into the cannabis-infused beverages market. He stated that although Tilray has previously manufactured drinks, this launch marks RIFF's first venture into cannabis-infused beverages, expanding its product range across Canada and supplementing its new craft flower and infused pre-roll offerings.
A Preview of the New RIFF Beverages
Blue Raspberry Ice promises a rush of berry nostalgia, while the Wild Raspberry Lemonade offers a fizzy mix of raspberries, wild berries, and lemon. Each 355mL can containing 10mg of THC is currently available for purchase in Alberta and Ontario.
The sparkling beverages not only charm with their flavor profiles, but also with their slim, sleek, and portable design, allowing consumers to enjoy cannabis refreshments on the go without any need for combustion.
Availability and Future Outlook
Currently available in selected regions and retail outlets across Alberta and Ontario, RIFF's premium cannabis beverages can also be accessed through the Tilray Medical Canada platform. A more extensive national rollout is anticipated later in 2023.
RIFF Beverages and the Expanding Cannabis Drinks Market
A report by Future Market Insights projects the global cannabis beverages market size to grow from US$ 1,227.3 Million in 2023 to US$ 5,899.5 Million by 2033, driven by increasing demand for wellness drinks that offer cannabis health benefits without the need to smoke or vape. The low sugar content of these beverages further appeals to health-conscious consumers wishing to avoid artificial sweeteners or high-calorie drinks.
Cannabis beverages are becoming increasingly popular among consumers seeking discreet and convenient cannabis consumption options. They offer precise dosing and fast onset of effects, making them a preferred choice over other edibles like chocolates or gummies, which may take longer to digest or have inconsistent potency.
RIFF's new beverages are ideally positioned to capture a share of this burgeoning market. They offer consumers a premium, differentiated cannabis experience combining natural flavors, nano-emulsified THC, and attractive packaging. RIFF's strong reputation and community engagement within the Canadian cannabis industry are also crucial in creating awareness and loyalty among its target audience.
RIFF's Noteworthy Proposition in 2023
This is RIFF's first significant announcement in 2023, following last year's launch of their limited premium craft flower series, the 'Orbital' Indica and 'Crossfade' Sativa collections, featuring rotating rare and limited-edition cannabis strains for discerning consumers.
The Orbital and Crossfade collections showcased a series of indica and sativa strains developed with local craft growers. Each strain offered high THC potency and was cultivated using specialized techniques, including slow hang drying, hand-trimming, and gentle curing.
[Image of RIFF's 'Crossfade' bud]
A Thriving Time for Canada's Cannabis Beverage Market
Canada's cannabis beverage market is expected to see significant growth as more consumers seek alternative, convenient ways to enjoy the benefits of cannabis without smoking or vaping.
According to Statista, the Canadian cannabis beverage market, valued at around 386.1 million U.S. dollars in 2018, is projected to reach approximately 1.11 billion U.S. dollars by 2025. The market's growth has been fueled by the legalization of recreational cannabis use in 2018, which opened new opportunities for innovation and product development in the cannabis drinks sector.
The RIFF Brand and High Potency
RIFF has carved a niche with high-potency products, some reportedly offering THC levels over 35%. The brand caters to experienced cannabis consumers who prefer high THC content, specific terpenes, unique genetics, and distinctive aromas. RIFF's flower products carry an average of 19% THC or higher, showcasing the brand's commitment to offering high-potency products.
About RIFF
RIFF, known for its dedication to innovation, supports local artists, sponsors events, and curates experiences that embody the RIFF lifestyle. To connect with the RIFF community or to learn more about their new offerings, visit whatisriff.ca.
About Tilray Brands
Listed on Nasdaq and TSX as TLRY, Tilray Brands Inc. operates on five continents, inspiring and empowering its global community with products that cater to their mind, body, and soul. From cannabis research, cultivation, and distribution to hemp-based foods and alcoholic beverages, Tilray’s diverse product portfolio supports over 20 brands in more than 20 countries.