(TDB) - The cannabis drinks sales in the US are set to pass the $1billion mark within four years, a new report has claimed, as loosening regulation attracts greater innovation and investment.

The CBD Drinks Report, which has been launched by drinks experts Zenith Global and Beverage Digest, said US sales of cannabis-based drinks was worth $86 million last year- but sales were likely to pass the key $1 billion barrier in 2023, jumping to around $1.4 billion by 2024.

“Key growth drivers for cannabidiol [a key active component of cannabis known as CBD] drinks include loosening regulatory implementation, investment by major brewers and innovation by numerous start-ups,” Zenith global chairman Richard Hall said.

“This has led to far greater awareness and availability.”

The weed-infused drinks category has already been tipped for major success in the US as more states allow recreational use of the drug. There are now ten states, where cannabis is legal, following Michigan’s decision to legalise the drug after last year’s mid-term elections, with a further 33 states allowing medicinal use of the drug.