Cannabis consumers are a diverse group, as clearly demonstrated by BDSA’s consumer research. At the highest level, BDSA divides respondents into:
When Colorado first launched adult-use (recreational) sales in 2014, the existing medical market opened up to a wave of new consumers, including those from the sizable illicit market as well as new consumers who previously had little or no experience with cannabis.
The popularity of CBD products has exploded in the U.S. in recent years, with sales in the U.S. cannabis dispensary channel alone rising from $8.4 million in May 2016 to $56.9 million in May 2020. And hemp-derived CBD products, containing less than 0.3% THC, are increasingly available via general retail channels, though CBD ingestibles are still officially off limits for sale in general retail channels in the U.S. and most other jurisdictions.
The legal cannabis market has exploded in recent years, with sales in the U.S. reaching an estimated $12.4 billion in 2019, forecast to rise to $31 billion by 2024. The market for cannabidiol (CBD) has also grown rapidly, with U.S. sales totaling $2.6 billion in 2019, on track to reach $18 billion by 2024. While THC and CBD are the most widely known and marketed compounds found in Cannabis sativa, a few of the other 113 currently identified cannabinoids show potential for therapeutic and recreational applications and have attracted the attention of both researchers and those in the industry.
Global legal cannabis spending is forecast to reach $47 billion in 2025, a number too big to ignore for many companies and industries. The U.S. will continue to be the largest global market, driven by more and more adult use markets opening.
- Independence Day and cannabis go hand-in-hand: “daytime fun” and well as “celebrating special events” are top occasions for cannabis consumption.
- Cannabis sales spiked in the days surrounding the July 4th holiday in 2019, increasing 31% between July 1-3, and 21% between July 4-6.
- Although inhalable products – flower and concentrates – comprised the majority of sales in the days surrounding July 4th 2019, ingestible products experienced a boost in sales before and after the holiday, increasing 27% during July 1-6 - with candy experiencing the sharpest increase of 50% during the first week in July
- Independence Day offers day-to-night festivities as well as opportunities for consumption. Inhalables are the top product choice for daytime and evening consumption, perfect for transitioning from backyard BBQs to late night fireworks!
- July 4th celebrations involve pairings of friends, food and festivities: 30% of consumers typically pair alcohol and cannabis in group settings.
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BOULDER, Colo. — May 5, 2020 —BDSA (formerly BDS Analytics), the leader in comprehensive, accurate and actionable cannabis market intelligence and consumer research, announced today that Illinois retail cannabis sales exceeded $188 million in the first quarter of 2020, reflecting adult-use sales of $109.96 million and medical sales of $78.2 million. This year’s sales are projected to exceed $693 million, an increase of 176%, based on top-line sales projections modeled from point-of-sale transaction records.
The COVID-19 public health crisis reset societies around the globe in just a few short months. With more than 150,000 deaths as of this writing, per the Johns Hopkins coronavirus resource center, no aspect of our lives remains untouched. The Easter and Passover holidays were forced online and over 22 million Americans have lost their jobs in the last few weeks. Global economies are in shambles and economists are virtually guaranteeing a recession (i.e., two consecutive quarters of negative GDP growth).
The latest Cannabis Intelligence Briefing from Arcview Market Research and BDS Analytics: CBD: Cannabidiol Escapes the Dispensary details CBD’s move from legal cannabis dispensaries to the general retail market. At present, the bulk (65%) of the $1.9 billion in annual spending on CBD products in the U.S. takes place through licensed dispensaries in legal cannabis states.
CBD: it spans product categories, retail channels, regulatory landscapes – and even species. Last month’s webinar covered the current cannabinoid market as it relates to pain management as well as pet care, both within the dispensary channel (CBD from marijuana) and in the general retail market (hemp-derived CBD). While pain management and pet care might seem like disparate angles from which to talk about cannabinoids, they actually do have some common ground. The wellness market is booming, as consumers’ approach to health care shifts; similarly, the pet industry has grown consistently as pets take on an increasingly heightened role in the American household. Both cannabinoid-based pain and pet products cross retail channels, with availability in medical and adult-use dispensaries as well as across general market retail channels. And, across pain management and pet care, cannabinoid-based products are a welcome supplement (or alternative) to other forms of medical or wellness-based solutions. Here we’ll look at some of the main takeaways from the webinar – but for the full story, you can watch the presentation and download the deck here.