Welcome Note

Welcome Back Gardeners to the 104th edition of Herbal Profiles!

Happy Friday yall! Hope everyone enjoyed the short week. I have begun to put together a directory of brands, it currently has a little over 200 brands in there! If you know any brands, please leave a comment on the spreadsheet or shoot me an email and I will get it added. I do plan to add some more columns like format (shot, enhancer, spirit, rtd, etc) to the spreadsheet as well as a ‘minimum thc’ column too. So it’s still very much a work in progress. But take some time and review it and hit me any brands you see that are not currently included!

And don’t miss the latest episode of the Free Spirits Podcast. 

Let’s get into it.

-Lars

The subreddit I moderate with Chris Fontes hit 1,200 subscribers! Subscribe over on Reddit and follow along there!

The Free Spirits Podcast with David Gonzalez and myself just dropped episode 13 of season 2 with Hyde’s Hail Mary Founder, Micah Hyde!

If you could take the time to drop a review of the podcast or even just share it with a friend or two, it really does help us grow and continue to bring you this show.

You can find us on Youtube, Apple, Spotify or wherever you get your podcasts!

Any comments or questions? Leave comment on this post or shoot me an email. Would love to hear from you!

News Roundup

• On Tap: THC-infused drinks redefine the bar experience - MJBizDaily reports on the rise of THC drinks being served on draft in bars across multiple states. Industry leaders point to on-premise consumption as a key driver of social normalization and consumer education in the infused beverage space.

• Texas lawmakers strike deal to consider ban on THC products in 2025 legislative session - Texas legislators have agreed to consider a bill in 2025 that could restrict or ban hemp-derived THC products. The deal follows months of debate between industry stakeholders, regulators, and public health advocates.

• THC drink maker announces landmark sponsorship deal with University of Louisville Athletics - A hemp-derived THC beverage brand has signed a sponsorship deal with the University of Louisville’s athletic department. The partnership is believed to be one of the first between a collegiate sports program and a THC beverage company.

• THC Beverages: A Look at the Rapidly Growing Market - Cannabis Science & Technology provides an overview of the growth in the THC beverage category, including consumer trends, regulatory developments, and technological advancements in formulation. The article emphasizes the market’s rapid evolution and diversification.

• Crescent 9 THC Seltzer Tops Nielsen Ratings: No. 1 Selling THC Drink in Stores Nationwide - Crescent 9 has been ranked the top-selling THC beverage in U.S. retail stores, according to new Nielsen data. The company reports nationwide distribution across more than 20 states and cites growing consumer demand for consistent, low-dose options.

📰 Got news? Submit it here! 📰

Any other questions or inquiries you can respond to this email or DM me on Twitter 

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THC Beverages in 2025

Two+ years ago, THC beverages were largely written off as a dispensary-bound curiosity, often cited as ~1% of the legal cannabis market per long-running coverage like Marijuana Venture’s analysis of beverage share. Or a niche product with no long term function, both by professionals and consumers. Today, the category has crossed a milestone few expected this quickly: $1.0–$1.3 billion in legal U.S. sales in 2024, according to Whitney Economics’ U.S. THC Beverage Report 2025. Whitney also pegs total market potential at $9.9–$14.9 billion, underscoring how far the space has come, and how much room remains.

Receipts: How Fast This Grew

The U.S. THC Beverage Report 2025 estimates 500–750 active brands nationwide, with only ~20 scaled into double-digit millions in revenue. Most hover around $2 million, a sign of both fragmentation and a thin “middle class” of operators. Distribution is no longer dispensary-dominated either: Whitney’s toplines show a hemp-retail majority (convenience, grocery, on-/off-premise, and DTC) versus a shrinking dispensary share, an inversion of the early days when dispensaries controlled the cooler and the category was largely viewed as a niche category and one that wasn’t economically viable due a myriad of reasons.

The “rounding-error” view persisted into 2023, again, ~1% of total regulated cannabis sales was the common refrain in trade coverage like Marijuana Venture. But normalization arrived fast once brands began to pivot to hemp-derived THC. In Minnesota, municipal liquor stores publicly credited THC offerings with lifting performance, highlighting how mainstream shelves are shaping trial and repeat. The elusive ‘soccer mom’ archetype that all the THC bros said didn’t actually exist, actually exist. They just didn’t want to shop in a dispensary (and who can blame them, it’s hardly an enjoyable experience). That retail access, plus on-premise experiments and direct-to-consumer, is a big reason the category now clears a billion.

The Regulator Moment

Normalization was not just consumer-led. The Center for Alcohol Policy published a national survey of Americans’ views on hemp-derived THC beverages, finding strong awareness and clear preferences for how these products should be overseen. Meanwhile, lawmakers have been busy: more than 80 bills regulating hemp beverages appeared in state legislatures this year, as reported by the Washington Post citing state-policy trackers. Alcohol-tier stakeholders are also weighing in, American Beverage Licensees issued a policy memo on intoxicating THC products that reads like a playbook for placing these beverages squarely inside the existing alcohol-licensing framework.

Why Engagement Matters Now

This is exactly why HBA is urging brands to engage alcohol regulators proactively. Meet them with data: clear dosing and serving guidance, verified third-party testing, age-gating, labeling, and retail guardrails that mirror the alcohol world (server training, ID checks, traceability). If alcohol administrators take formal oversight and standardize on-/off-premise rules, the industry could unlock much more of that $9.9–$14.9B potential far sooner than waiting for federal clarity. Whitney’s forecast for 2025 growth, with acceleration in 2026 as rules settle, assumes access keeps widening. Your outreach helps make that true.

The Inflection Point

Crossing the $1B threshold is a huge milestone as it is obviously proof of concept. Consumers want these products; retailers can move them; regulators are deciding who holds the keys. Two years ago, this was largely a dispensary-only niche. Today, it’s a genuine category with mainstream velocity. The next phase will be shaped by how well operators organize around standards and regulator relationships, or, if they don’t, by bans and overreach that slow everything down.

Recent Free Spirits Podcast Episodes ICYMI