Charlotte’s Web Holdings is currently developing new CBD social elixirs, exploring its entry into the CBD wellness beverage market. The elixirs have an expected launch date later in the calendar year.

“Entering the beverage category is reflective of our increased focus on new product categories and formats to drive our topline growth,” said Jacques Tortoroli, CEO of Charlotte’s Web. “This allows us to enter this fast-growing portion of the market.”

The company looks to introduce CBD sparkling elixirs powered by Charlotte’s Web full-spectrum hemp extracts derived from the company’s proprietary patented hemp cultivars. The beverages will be developed with formulations blended with other functional botanicals and natural flavors and are vegan, gluten-free, dairy-free and non-GMO.

According to The Brightfield Group, the CBD beverage market is expected to reach $1.3 billion in 2026.

Charlotte’s Web’s executive suite has substantial experience in the beverage category. Tortoroli has over 20 years of global beverage experience through previous roles with PepsiCo, Pepsi-Cola International and, more recently, with family-owned Bacardi. Charlotte’s Web Chief Financial & Operating Officer Wes Booysen has more than a decade of experience in the beverage industry at Molson-Coors where he was most recently CEO and managing director, Asia Pacific and ‎Africa.

Charlotte’s Web Holdings, headquartered in Denver, specializes in innovative hemp extract wellness products under a family of brands, which includes Charlotte’s Web, CBD Medic, CBD Clinic and Harmony Hemp. Charlotte’s Web product categories include full-spectrum hemp CBD oil tinctures, CBD gummies, CBD capsules, CBD topical creams and lotions, and CBD pet products for dogs.  Charlotte’s Web products are distributed to more than 14,000 retail locations, over 8,000 health care practitioners and online through the company’s website.