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.
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.
How many products contain cannabis? Hundreds. Flower – of course – and pre-rolls. Vape pens and concentrates like shatter and Live Resin. Creams and massage oils. Chocolate chip cookies, coffee sodas, pills, strawberry taffy, powders for adding to hot tea or cold juice. Companies are rolling out myriad new products in pot-friendly states every week — it’s remarkable.
Cannabis Ingestibles cover a lot of ground, including everything from pills to slices of pie to bottles of THC-infused cold-brewed coffee. But one style of ingestible dominates the market: the gummy.
The path towards California’s cannabis pot of gold may be lined in green — moolah and ganja. But the legal commercial ferment could even be more effervescent - the pot of gold that much heavier - if not for regulations and taxes.
Among Colorado, Washington and Oregon, edibles ranked #3 in terms of market share of dollars sold during 2016, capturing 12 percent ($269.8 million) of the $2.33 billion cannabis market. Flower leads with 58 percent of the market, followed by concentrates at 20 percent.
BY KATE MCKEE SIMMONS | November 18, 2016