Companies plan CBD-infused meatless burger2 Jul 2019
North American Cannabis Holdings (USMJ) and Kali-Extracts have released a presentation on their plans to introduce a meatless hamburger infused with CBD in partnership with West Coast Venture Group (WCVC).
The menu at WCVC's Illegal Burger Restaurants is said to include burgers made with all-natural beef that is never frozen and all sourced from suppliers who use no antibiotics or growth hormones. The company has $3 million in annual sales.
WCVC says it is poised to capitalise on the plant-based protein alternatives market that has recently caught investors' attention with the recent IPO of Beyond Meat. WCVC believes it has one more differentiator to bring to the meatless hamburger sector.Late last year WCVC entered into a partnership with USMJ. USMJ spun its cannabis-themed restaurant off last fall to capitalise and expand the initiative in a partnership with WCVC. In turn, USMJ is partnering with Kali-Extracts, the owner and operator of a US patented cannabis extraction process. Kali-Extracts is currently utilising its cannabis extraction expertise in the development of pharmaceutical products. While the introduction of pharmaceutical products is a long-term process, Kali-Extracts is developing a number of more immediately commercial CBD extract products. Adding to the list of Kali-Extracts extract products will be working with USMJ to develop a CBD-infused plant-based protein burger for introduction through USMJ's partnership with WCVC. The first CBD-infused plant-based protein burger is expected to be introduced later this summer. Forbes reports that the CBD market is expected to reach $16 billion by 2025. At the same time, Mordor Intelligence expects the plant-based protein market to reach $9 billion by 2024. The USMJ and Kali-Extracts approach with WCVC is claimed to be uniquely positioned to target the intersection of these two multi-billion markets.