FinancialBuzz.com News Commentary
NEW YORK, April 16, 2024 (GLOBE NEWSWIRE) -- The market for breathalyzers is witnessing significant growth due to the essential role these devices play in enforcing alcohol regulations and ensuring public safety. Breathalyzers, by providing a quick and accurate measurement of blood alcohol content (BAC) from a breath sample, are crucial in numerous public safety campaigns, including drink-driving laws and workplace compliance. This has led to their increased adoption by law enforcement agencies, businesses, and individual consumers alike. Recent technological advancements have further bolstered the market. Innovations include the development of more portable, user-friendly models that connect to smartphones, providing real-time data and analytics. Advances in fuel cell technology have also enhanced the accuracy and reliability of these devices, making them a more trusted tool in efforts to combat alcohol-related incidents. These technological improvements not only refine user experience but also expand the potential applications of breathalyzers in both medical and professional settings. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Anheuser-Busch InBev SA/NV (NYSE: BUD), Tilray Brands, Inc. (NASDAQ: TLRY), Molson Coors Beverage Company (NYSE: TAP), MGP Ingredients, Inc. (NASDAQ: MGPI)
Additionally, the rising use of alcohol and prevalence of alcohol-related crimes and abuses
around the world led to more stringent legislation for the comprehensive testing of alcohol levels by government agencies. It is a major factor in the widespread use of breathalyzers, and it is likely to be responsible for further growth as many countries still lack proper regulatory laws against alcohol and its abuse. For instance, according to the National Survey on Drug Use and Health’s 2022 report, in the United States, in 2022, 48.7% of individuals aged 12 and older, equating to 137.4 million people, reported consuming alcohol in the preceding month. Among these, adults aged 26 and older had the highest rate of alcohol consumption at 53.4%, which translates to 118.2 million people. Young adults between the ages of 18 and 25 followed, with a consumption rate of 50.2% or 17.5 million people. Adolescents aged 12 to 17 had the lowest percentage, with 6.8% or approximately 1.8 million reporting alcohol use in the past month.
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), a developer of marijuana and alcohol breath testing devices, just announced that, “it has shipped its Industrial Series Contactless Alcohol Breathalyzers (“CAB” devices) for certification testing and is rebranding the “CAB” name under the new “Breath Logix” product series. The Breath Logix product series is part of the Company’s portfolio of marijuana and alcohol screening devices.
The Breath Logix Industrial Series-Alcohol breath detection device is an autonomous wall mounted unit that is ruggedized and designed for the workplace (Figure 1). A breath sample can be delivered either by straw (Figure 2) or in contactless mode. These devices have been delivered to globally recognized certification laboratory, CE cert GmbH in Germany, for independent alcohol standards testing which is a step required before sales of the device can begin. The regulatory process for certification of alcohol breath detection devices is well established, and will aid in an analogous process for the Company’s marijuana (delta-9 THC) breathalyzer products.
The Breath Logix Industrial Series is a weather resistant device with a host of requested features including patent pending pre-calibrated cartridge technology (See Figure 3) which will allow site safety administrators to easily maintain their devices, and eliminate the need for costly calibration equipment and time-consuming site visits from technicians for maintenance. This device can be used for pre-access alcohol testing, random testing, start-of-shift testing, pre-employment testing, return-to-work testing and post-incident testing. The device is currently being piloted as a solution for the 24/7 sobriety program which exists in several states.
The Breath Logix Alcohol device automatically checks the sobriety of a user and can take a picture to confirm and record identity while a breath sample is being delivered. Upon detection of positive breath alcohol result, the device will deliver a precise Blood Alcohol Content (BAC) level on the screen, and send a real-time alert via text message, e-mail and to a dedicated web portal. Furthermore, the system logs user BAC for incident reporting and historical investigations. The Breath Logix helps organizations save money by deploying an autonomous alcohol screening device which eliminates the need for dedicated alcohol screening administrators using conventional handheld devices.”
Anheuser-Busch InBev SA/NV (NYSE: BUD) reported last year that together with UFC®, the world’s premier mixed martial arts organization and part of TKO Group Holdings (NYSE: TKO) announced a new multiyear marketing partnership. Effective January 1, 2024, the brewer will become the exclusive "Official Beer Partner of UFC." With this sponsorship, in the U.S., Bud Light will bring easy enjoyment to 21+ fans with 360-degree programming, including custom social and digital content, broadcast integration, on-site presence, and more.
Tilray Brands, Inc. (NASDAQ: TLRY) announced last year that it has closed its all-cash acquisition of eight beer and beverage brands from Anheuser-Busch (NYSE: BUD), including the breweries and brewpubs associated with them. The acquired businesses include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. Irwin D. Simon, Chairman and Chief Executive Officer, Tilray Brands, said, “Tilray’s diversified growth strategy is a purposeful and strategic adaptation to current market realities given delayed federal cannabis legalization in the U.S. When federal cannabis legalization does happen, we believe that Tilray will be ready to dominate as a leading global CPG company with the resources, infrastructure and operations, distribution, brands, sales, and marketing know-how to lead the revolution of cannabis CPG in the mainstream.”
Molson Coors Beverage Company (NYSE: TAP) announced back in January that it is excited to introduce Madrí Excepcional to beer lovers in Canada starting this February. Following a wildly successful debut in the United Kingdom in 2020, Madri Excepcional has quickly become one of the most popular brands on the British pub scene and in grocery stores across the U.K. Inspired by El Alma de Madrid, Madri Excepcional is the first collaboration between Molson Coors and La Sagra brewery near Madrid. The outcome is a European-style lager positioned within Molson Coors' roster of high-end offerings and has been cited as the company's most successful new brand launch of the past several decades.
MGP Ingredients, Inc. (NASDAQ: MGPI) reported back in February results for the fourth quarter and full year ended December 31, 2023. “We are very pleased with our performance for the quarter and full year and remain confident in the long-term sustainability of our business model,” said David Bratcher, CEO and president of MGP Ingredients. “Our strong financial results for the quarter and year reflect continued strength in each of our business segments and the dedication of our team. Demand for our new distillate and aged whiskey was strong, which resulted in brown goods sales increasing 39% and 26% for the fourth quarter and full year 2023, respectively, as compared to the prior year periods. In our Branded Spirits segment, we continued our premiumization efforts and are pleased that sales of our premium plus portfolio grew 50% in the quarter and 24% overall for the year, which in turn drove further gross margin expansion across the portfolio. As for our Ingredient Solutions business, we remain encouraged by the traction our specialty wheat proteins and starches continue to gain. The results across all three business segments for the fourth quarter and full year demonstrate the continued success of executing our long-term strategy.”
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