Embracing Competition: Boston Beer's Approach To A Booming Cannabis Beverage Industry

At the recent Benzinga Cannabis Capital Conference in Miami Beach, Paul Weaver, head of cannabis at Boston Beer Company SAM, discussed his views on competition within the cannabis-infused beverage market.

Rather than seeing competition as a threat, Weaver embraces it as an opportunity to refine products, expand the market and keep a business sharp.

"If someone were to actually come out with a copycat brand of TeaPot, then it just keeps us to make sure that we've got a better tasting product, that we've got better marketing, that we've got the best team that's pushing our product," he said.

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Boston Beer launched the THC-infused TeaPot brand last year with an understanding that there was already a wide range of flavors and product types available in the cannabis beverage market. For Weaver, it would be naive to assume that one flavor could cater to the entire category.

"We've got seltzers and teas, you've got like funky hard soda kind of place. So, I think there's a wide palate that the beverage consumers universally like to try different stuff," he explained.

For Boston Beer Company — maker of Samuel Adams, Truly Hard Seltzer and Twisted Tea — the focus isn't on outcompeting other brands. Instead, it prioritizes growing the market as a whole.

"It's all about distribution," Weaver stated. "It's all about getting these products in the hands of consumers who didn't even know they existed."

By increasing the availability and awareness of cannabis-infused beverages, the company aims to embrace competition, focus on growth and expand the market for everyone involved.

The cannabis beverage market is expected to rise from $1.2 billion in 2023 to roughly $5.9 billion by 2033.

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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.