A recent article released by the Arcview Group states that “it has become clear that the legal cannabis market is about much more than inhaling the smoke of smoldering cannabis flower." This could not be truer. This statement was made in an article titled "The Tasty future of Cannabis Edibles."
In this article, the Arcview Group released statistical data surrounding the cannabis-infused edible market that was produced in a study that was performed by the Arcview Group and BDS Analytics.
This article and the report by Arcview Group came to the conclusion that cannabis edibles and the market surrounding them was worth more than 1.4 billion dollars this year alone in the US. Their predictions state that the market could be worth 4.1 billion by 2022.
One of these reasons is because cannabis edibles are quickly becoming a favorite amongst cannabis patients. Unlike other consumption methods utilizing edibles allows patients to microdose with cannabis. Edibles also do not produce a smell and can be consumed discreetly.
In some states in the United States where cannabis has been legalized for more than just medical purposes and even in some that only allow for medical cannabis certain types of cannabis edibles have been banned from the shelves.
In Colorado, gummy cannabis edibles are not allowed to be in the shape of anything that may be appealing to children such as the shape of bears, or other animals. In the state of Washington, however, they took it a step further and banned the sales of all cannabis-infused gummies, chocolate, and hard candy products.
The report by Arcview and BDS Analytics predicts that there is going to be a significant shift in the type of products that cannabis consumers and patients are buying in the coming years.
The report suggests that based upon recent trends that cannabis flower will go from making up 50% of cannabis sales to account for just 36% by the year 2022.
During that same time, however, they predict that cannabis edibles will go from making up 12% of cannabis sales to 14% of sales. This does, however, make you wonder where the remaining percentage of bud cells are predicted to go.
Could it be that more cannabis consumers and patients will turn to methods of consumption that do not require inhalation or ingesting cannabis directly?
It could possibly as there has already been a significant increase in the number of patients that are turning to products such as cannabis-infused topicals to relieve pain rather than utilizing flower or edibles which both produce a psychoactive effect.
One thing we do know however is that whether it is in brownies, gummies, chocolate, drinks, or a five-star meal cannabis consumption via edibles is an increasingly popular trend in the cannabis space.Posted: Wednesday, October 24th, 10:00am 22 days ago
Parker is a cannabis enthusiast to the core who shares a keen interest in listening to what others have to say and understanding what’s important to them. Those who know Parker know that his passion for health and wellness runs deep, and his love of Canada even deeper!