Coca-Cola could change the cannabis industry

The beverage giant has already brought about massive cultural change… is cannabis next?

They are a nearly $100 billion company, present in 200 countries (more than the United Nations' 193), and on average over 10,000 Coca-Colas are consumed every second. They are the world leader in beverages, change and growth. Although they flirted with the cannabis industry in 2018, nothing came of it. But with Constellation and Diageo being big players in the industry, Coca-Cola could dramatically change the cannabis industry.

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Most people forget that Coca-Cola pioneered the bottled water movement. While other soft drinks and beverages scoffed or feared the concept, they swooped in and released Dasani. The brand was a leader for years, only recently losing out to Pepsi's Aquafina. They have the political influence, distribution channels and resources to reach mainstream audiences across multiple companies. And they know how to talk to customers.

The cannabis industry has produced some mid-sized companies, but it is largely made up of small family-run businesses. When building a business, they have to learn how to develop products for a wide audience, which can be difficult. And they have to deal with running a business and distribution. Like the alcohol companies, Coca-Cola largely knows how to make, market and sell products.

As Gen Z turns away from alcohol and gravitates toward cannabis, Coca-Cola is well positioned to convert this market into lifelong habits. There is also an opportunity to play up the “healthy” side of the company (water) and market CBD beverages and microdosing options. Unlike rival Pepsi, whose relationship with food has hit and miss, Coca-Cola has stuck strictly to beverages. With the marijuana beverage market slowly growing, Coca-Cola could become a dominant player for consumers.

From developing the now widely used six-pack container in 1923 to the Big Gulp, they know and understand consumers. While Tab failed to take off, Diet Coke is now the top seller. They have the data to give consumers what they want at an attractive price.

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The marijuana industry already has major mainstream players shaping the future of legalization and mainstream consumption, and Coca-Cola, which has a strong reputation across all generations, could take the industry to the next level.