Cannabis with your cup of tea?
Increasingly, consumers are saying, “Yes, please.”
Cannabis-infused tea drinks are hot in the marketplace, and the thirst for pot tea is a fairly new phenomenon. According to data from BDS Analytics, a leading source of consumer data in the cannabis industry, it’s a 2017 thing.
But so far in 2017 (with data through March in Oregon, February in Colorado and January in Washington) we find tea capturing 8 percent of the $3.10 million beverage market, with $250,000 in sales. For all of last year, dispensaries sold just $351,000 worth of tea products — at this rate, sales of tea in 2017 will quickly surpass last year’s mark.
The tea trend has not caught on in Washington, where market share in January of this year of 2 percent (on sales of $140,000) is the same as tea’s market share for all of 2016. In the past four months, sales of coffee products have overtaken tea demonstrating Washington’s known affinity for coffee.
Compared to market behemoths like flower, candy and pre-filled vaporizer cartridges, tea remains a teacup amidst barrels. At the rate it is growing, however, the dainty cup might soon morph into something more like a thermos. One thing is for sure: the trend is warming the hearts of cannabis tea entrepreneurs in Colorado and Oregon.