Truss Beverage Co. Introduces 6 New Products
Cannabis-infused beverages primed to capitalize on the $8bn1 adult-beverage category this summer
TORONTO -- Just eight months on from the launch of Canada's widest portfolio of cannabis-infused beverages, Truss Beverage Co. is making another splash in the category with the introduction of six new products to its existing brand offering. As the cannabis market in Canada continues to grow, the joint venture of Molson Coors Canada and HEXO Corp. (TSX: HEXO) (NYSE: HEXO) has made innovation a top priority to meet the fast-evolving needs of Canadian cannabis consumers.
The six new products will be rolling out to retailers over the next few months and arriving just in time for summer, the largest adult-beverage season of the year. While cannabis beverages were in their infancy in Summer 2020, the arrival of new flavours continues a year of category-defining product development for Truss. With awareness of the category at an all-time high amongst potential cannabis consumers (87 per cent2), Truss expects Canadians to embrace cannabis beverages throughout the summer of 2021 and beyond.
"Eight months ago we launched the largest and most diverse portfolio of cannabis beverages in the industry. Today we're back, adding a whole new line-up of innovation and increasing our offering in Canada by an additional 50%," said Scott Cooper, President and CEO of Truss Beverage Co. "With summer approaching, the biggest adult beverage market of the year, this is great news for legal age consumers."
Proudly made in Belleville, Ontario, the new CBD and THC products are full of flavours inspired by the approaching summer season, as well as feedback and insights gathered from Truss' community of consumers:
- House of Terpenes™ Valencene & Sparkling Tonic
- XMG™ Citrus and XMG™ Watermelon
- Veryvell™ Honey Green Iced Tea
- Little Victory™ Lemonade
- Mollo™ 5 Lime
"We're delighted with the reception to the portfolio to date," said Scott. "We've sold over two million units and took leadership of the category in early 2021 with a 43 per cent market share3. The category shows no signs of slowing down and we expect it to continue to evolve and grow well into the remainder of 2021."
Since the legalization of cannabis 2.0 products, cannabis beverages have become a welcome option for consumers, for offering both consistency and an alternative way to consume cannabis. 44 per cent of current legal age Canadian cannabis consumers say they will buy beverages in addition to other cannabis products4, and 35 per cent consume cannabis beverages because it means they don't have to smoke5.
"The summer season is a huge buying opportunity for the cannabis beverage category," said Lori Hatcher, Head of Marketing at Truss Beverage Co. "We've worked in close collaboration with our community of consumers and budtenders to bring together a selection of fresh, new beverages made with natural flavours that are perfect for those outdoor summer occasions. We're so excited to bring these to market over the coming months and to see the reception from consumers as they continue to navigate this fast-evolving category."
Everyone's experience with cannabis is personal, so for Canadians of legal age starting to explore cannabis beverages this summer season, Truss advises to start low and sip slow.
Products from the Truss Beverage Co. lineup are available at authorized local cannabis stores and authorized online retailers. The new products will begin rolling out over the next four months. To learn more, visit www.TrussBeverages.com.
About Truss Beverage Co.
Truss Beverage Co. is a joint venture between MolsonCoors Canada and HEXO Corp., a licensed producer of cannabis products in Canada; formed to lead innovation in the development of non-alcoholic, cannabis-beverages for the Canadian market. Produced through Truss/HEXO Cannabis-Infused Beverages, a division of HEXO, the Truss portfolio will have a range of products for Canadian consumers of legal age, providing a variety of taste experiences for multiple beverage occasions.
Truss Beverage Co. will deliver on its promise to be the cannabis beverage specialist through extraordinary products and marketing that reinforces its commitment to responsible adult use.
1 Monthly retail sales of beer, wine and liquor stores in Canada from 2015 to 2020 (in billion Canadian dollars) - 2019 figure reference, May - August
2 Findings of a survey conducted by Truss Beverage Co. from Nov 4, 2020 to Nov 9, 2020 with a sample of 1,500 Canadian cannabis non-rejectors online who are members of the Angus Reid Forum.
3 Truss internal proprietary market share tracker from February 1, 2021 through February 28 2021, representative of dollar share.
4 Deloitte Nurturing New Growth, Cannabis 2019
5 Findings of a survey conducted by Truss Beverage Co. from Nov 4, 2020 to Nov 9, 2020 with a sample of 1,500 Canadian cannabis non-rejectors online who are members of the Angus Reid Forum.