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Pot producer Canopy Growth enters U.S. vape market

Credit: REUTERS/CHRIS WATTIE

Canopy Growth Corp launched its first-ever cannabidiol (CBD) vape 'Whisl' in the United States on Tuesday, betting on rising demand for alternatives to tobacco and cigarettes.

Sept 14 (Reuters) - Canopy Growth Corp WEED.TO launched its first-ever cannabidiol (CBD) vape 'Whisl' in the United States on Tuesday, betting on rising demand for alternatives to tobacco and cigarettes.

The U.S. e-cigarette and vape market was valued at $15 billion last year and a "growing emphasis on adopting safer alternatives to smoking" is expected to drive 28% annual growth through 2028, according to Grand View Research.

CBD, a non-psychoactive compound derived mainly from the hemp variant of cannabis, saw a massive rise in popularity last year as more people turned to it for relaxation during the months-long isolation caused by COVID-19, lifting sales of pot producers.

Canopy has looked to capitalise on the increased demand and launched various products such as CBD-infused beverage line in Canada and the United States and even a new line of cannabis-infused soft chews and drops for dogs.

Canopy said its Whisl pods will be available in three variants, each targeting mood management during different parts of a day. Each pod will contain 200 milligram of a purified form of CBD, sourced from licensed hemp providers within the United States.

Canopy said its nicotine-free vaporizer will be available in more than 3,000 Circle K convenience stores in 21 states from Oct. 1.

(Reporting by Sahil Shaw in Bengaluru; Editing by Maju Samuel)

((Sahil.Shaw@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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