Gummies on the Rise: The Rapid Growth of the Most Popular Ingestible Cannabis Product

Sep 23, 2020 11:44:58 PM / by BDSA posted in Data Deeper, Cannabis Market, Cannabis Data, BDSA-Insights, Market Insights, Market, Cannabis Sales Forecast, 2020, cannabis insights

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Infused gummies make up 84% of candy ingestible sales in 2020

While sales of ingestible cannabis have grown steadily in legal markets, candies have seen particularly strong sales, with infused gummies making up 84% of candy ingestible sales so far in 2020 across Arizona, California, Colorado, Nevada and Oregon. Overall gummy sales in these 5 states have seen strong growth in recent years, from $20 million in July 2017 to almost $64 million in July 2020, a growth rate that far exceeds that of other candy ingestibles. The familiar form factor and multitude of flavors that gummy products present make them especially appealing to consumers, who report that the product type is their favorite type of ingestible cannabis.

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Legalization Prominent in 2020 Election

Sep 15, 2020 6:36:51 PM / by BDSA posted in Data Deeper, Cannabis Market, Cannabis Data, BDSA-Insights, Market Insights, Market, Cannabis Sales Forecast, 2020, 2020 Election, cannabis insights

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Six Cannabis Legalization Measures Make the November Ballot

 

Pre-COVID-19, it appeared as though citizens in as many as 12 states would have the opportunity to vote on medical or adult-use cannabis on Nov. 3, 2020. Had that come to pass, the 2020 election could have eclipsed the monumental events of Nov. 8, 2016, when eight states passed cannabis initiatives. But COVID-19 put a damper on the legalization push in the U.S., as many ballot measures lost steam due to the inability to gather signatures in person. Campaigns for legalization persisted though shelter-in-place orders stopped many signature drives, and with an October 2019 Gallup poll showing 66% support for full legalization, those campaigns that make it to the ballot seem likely to pass.

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Strong Adult-Use Growth in Canada, Medical Shrinks

Sep 9, 2020 1:50:58 PM / by BDSA posted in Webinars, Market Forecasts, Financial Market Analysis, Cannabis Market, Canadian Cannabis Market, BDSA-Insights, Market Insights, Market, Cannabis Sales Forecast, 2020

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Canada’s legal cannabis market has soared since the introduction of adult-use sales on Oct. 17, 2018. In 2019, sales of adult-use cannabis neared $1.2 billion while medical continued to grow nationally, though signs of a coming contraction in that channel became apparent as the year ended.

Even so, the market is growing more slowly than the forecast in “The State of Legal Cannabis Markets, 8th Edition” published earlier in 2020 by Arcview Market Research and BDSA. In accordance with this slower than anticipated growth, the forecast for 2020 adult-use spending has been adjusted down to $2.1 billion from the previous forecast of $2.4 billion, while medical spending in 2020 has been adjusted down to $402 million from $470 million.

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Global Cannabis Markets to Reach Nearly $20 Billion in 2020

Sep 3, 2020 2:16:22 AM / by BDSA posted in Webinars, Market Forecasts, Financial Market Analysis, Cannabis Market, BDSA-Insights, Market Insights, Market, Cannabis Sales Forecast, 2020

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The cannabis industry is faring remarkably well, despite – or, likely, because of – the global COVID-19 pandemic, according to BDSA’s analysis of retail sales tracking data year-to-date 2020.

Nearly every jurisdiction in the United States and Canada declared cannabis an essential service and most cannabis retailers remained open during the pandemic, and consumers have continued shopping, though their behaviors have changed somewhat during the crisis.

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The $20 Billion CBD Race

May 30, 2019 10:41:24 AM / by BDSA posted in Cannabis, CBD, Knowledge Center, Market Insights

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Whether or not you keep up with the cannabis industry, you’ve likely heard the term “CBD” recently. Seemingly overnight, CBD is appearing everywhere from beauty product lines to burger joints. As it turns out, there’s legitimate reasoning behind “today’s” latest hype.

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