Elev8 Brands Inc. (OTCMKTS:VATE) has announced a rollout of its latest hemp-infused single-serve coffee and expansion into the CBD whole bean coffee.
Introduction of new coffees
The company which is popular for commercial development if hemp and CBD infused beverages indicates that it is eager to expand into the single-serve coffee market. Over the past year, the company has received numerous requests on the same, and they are delighted to roll out the latest products. Elev8 Hemp expects to roll out the products from October and will begin with the Pumpkin Spice and House Blend hemp coffees. The rest of the flavors will hit the market in the middle of the fourth quarter.
Statista indicates that single-serving coffee making machines like Keurig are among the most popular brewing machines alongside the standard drip coffee machines. Reports indicated that in 2018, 26% of coffee drinkers in America were using single-serve coffee machines.
Expanding into single-serve market
Elev8 Hemp CEO, Ryan Medico, stated that they are always having a plan of expanding into the single-serve market. He added that this is an exciting prospect and they are delighted to create CBD infused Whole bean coffee. Medico said the plan is to venture into as many areas as possible with tea and coffee, which the company was missing. He added the product would most likely be available by November.
In 2019, Blessed Bean Coffee LLC has experienced exponential growth. The company is into the single-serve private label market. To meet demand, the company acquired an automated single serve machine with a production capacity of up to 1200 cups per hour.
The president of Blessed Bean Coffee, Robie Leavitt, indicated that they are expecting growth in revenues with the latest single-serve machine. Back in July, when the company launched its private label drop shipping program, it also witnessed an increase in revenue. Since then, the company has attracted numerous private label customers as well as secured a huge two-year deal.