Sales in USA legal markets should almost triple to US$16 billion by 2020 from US$5.4 billion in 2015, according to market research firm Euromonitor International, and Constellation says cannabis globally could be worth US$200 billion in 15 years.
"Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world", Coke said in its statement on Monday.
To expand the range of products the company intends adding to the beverage substance contained in marijuana - cannabidiol (CBD).
Coca-Cola's potential foray into marijuana beverages follows a two investments by Constellation Brands, the conglomerate behind drinks like Corona and Svedka, totaling more than $4 billion, into Canopy Growth, the largest publicly traded marijuana firm.
Bloomberg says Molson Coors Brewing is starting a joint-venture with Quebec-based Hydropothecary Corp., and Diageo, PLC, maker of Guinness is looking at a possible deal with at least three Canadian cannabis producers.More news: Barcelona vs. PSV Eindhoven - Football Match Report
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Coca-Cola has already been diversifying as consumption of soda continues to decline.
The discussions with Aurora are focused on CBD-infused drinks to ease inflammation, pain and cramping, according to the BNN Bloomberg report. There are no guarantees of any deal between Aurora and Coca-Cola, according to the report.
BNN Bloomberg is reporting that Coca-Cola Company, one of the most noticeable brand names in the world, is considering the cannabis market.
While marijuana remains illegal at the national level in the US, there is growing acceptance of the use of CBD derived from marijuana to treat illnesses ranging from chronic pain to anxiety and epilepsy.
Canada is set to legalize cannabis on October 17 after both houses of Parliament voted to make the drug available for recreational use.