There is competition brewing for Canada’s lead on the cannabis beverage market as Canopy Growth Corporation (Nasdaq: CGC) (TSX: WEED) and HEXO Corporation (Nasdaq: HEXO) (TSX: HEXO) will lose market share to The Boston Beer Company, Inc. (NYSE: SAM).

Last week the company announced plans to take the edge off of Canada’s cannabis beverage market through tea. The company will be launching TeaPot, a new line of cannabis-infused iced teas. The product line is made with real lemon black tea and infused with Pedro’s Sweet Sativa from Entourage Health Corporation (TSX Venture: ENTG) (OTCQX: ETRGF), a high-profile Canadian Licensed Producer (LP).

The Boston Beer Company expects the beverage line to be available in select Canadian provinces in July and we should see strong consumer demand for it. The cannabis beverage will be sold under Entourage’s retail brand, Color Cannabis.

According to Headset retail data, Canada’s infused beverage market share has increased by nearly 850% since 2020 and is approximately twice the size of the United States (US) cannabis beverage market with strong growth continuing to project forward in the coming year.

The Boston Beer Company is executing on a strategy to become the most innovative consumer-focused beverage company and it will be well positioned to capitalize on the US cannabis beverage market once federal legislation allows for it. This comes with good timing as the company lost a good portion of market share in the hard seltzer vertical.

Photos courtesy of Boston Beer Co.