Synopsis: Is the U.S. Market for Weed Edibles Actually Booming?
This week’s Hot Article, Is the U.S. Market for Weed Edibles Actually Booming?, written by Randy Robinson and published by Merryjane.com, shows that even with the setbacks recently suffered by the edibles market, this sector is technologically-booming and here to stay.
Since 2014, ten US states have made it legal for adults 21+ to purchase and consume edible products infused with THC. These variably regulated food products are now being consumed in reportedly record amounts. Edibles and concentrates dominate the cannabis market as the fastest growing segments in the retail space. Edibles sales more than doubled nationally immediately after California legalized adult consumption in 2017.
As demonstrated by the number of edibles products currently on the market, variety is powerful. With so many edibles products from which to choose, cannabis users have many options to select from in determining which products work best for them. Whether they like to eat or drink their THC, consumers have a variety of options available to suit their consumption preferences, including candies, chocolates, gummies, teas, coffee, powders, and trail mix.
Due to initial misuse of edibles shortly following legalization, legal THC dosages are geared toward usage by new consumers and consumers with lower tolerances. During the industry’s legal infancy in Colorado, emergency room visits spiked due to adverse reactions to edible THC products. There were two reported THC edibles related deaths; one was ruled as accidental due to a fall and the other a murder. The resulting pressure on regulators forced the state to define firm dosage restrictions on edibles products, with shapes and sizes of edibles also affected during this post-legalization period.
Although a period of regulatory adjustment for edibles post-legalization stifled growth in the edibles market, it certainly did not stop overall market growth. Technologies previously reserved for commercialized food markets continue to be leveraged in the cannabis industry (e.g., replacing “budder”, or cannabis-infused butter, with hydrocarbon or carbon dioxide extracts keeps dosage consistent for food producers).
Whether it be sweet or savory, the edibles market growing fast and is here to stay. Each week Zefyr publishes average national retail pricing for edibles and other single-use products sold in the retail cannabis marketplace. Check out our blog tomorrow for edible info and additional products and multi-use categories as well!