Edibles Archives - Green Market Report

StaffJanuary 3, 2023
cann-social-tonic.jpg?fit=960%2C640&ssl=1

1min5440

31% – How many cannabis drink consumers in Illinois aware of Cann social tonic

Cann offers “social tonics” in trendy flavors with only 2 milligrams-5 milligrams per can. It was hot on the trend of microdosing cannabis when it hit California shelves in 2019.

However, the brand has been able to gain more awareness in less saturated markets it’s entered – such as Illinois – than in its home-state’s market.

Source: Brightfield Group, U.S. Cannabis Product Brand Health, Q3 2022


John SchroyerNovember 28, 2022
drink.jpg?fit=960%2C583&ssl=1

4min12950

Among the smallest of cannabis product niches are infused beverages, a sector that garners just over 1% of the entire U.S. marijuana market as the sixth most popular product category, compared to flower, which holds the lion’s share of consumer loyalty with over 40% of product sales and is easily the most popular category.

At the same time, the infused beverage market is one of the fastest-growing sub-categories of marijuana products, Seattle-based data firm Headset found in a new industry report that highlighted “triple-digit year over year growth” in Michigan, one of the newest U.S. recreational markets.

“Beverages have the potential to attract new consumer groups who may not tend to purchase the traditional inhalable product categories. There is a lot of opportunity in cannabis beverages, especially during a time when people are drinking less alcohol, particularly in the U.S.,” Headset reported. “Keep an eye on the category as it continues to grow.”

More Brands

The report cited industry data from both Canada and several U.S. state markets, which found an ongoing boom in cannabis beverage brands and products, but decidedly mixed results when it came to sales since early last year.

“Since January 2021, the Canadian market has seen a 300% increase in brands. Beverage brands grew 65% in the US over the same time period,” the report found. “This flood of new brands and products into the market could be exceeding demand and contributing to price compression within the category.”

Headset found that infused drinks sales grew by a whopping 272% year-over-year in Michigan for the first 10 months of 2022, and also grew by double digits in Massachusetts, Washington state, California, and a number of Canadian provinces including Ontario, British Columbia, and Saskatchewan.

Fewer Sales

But cannabis beverage sales also dropped during the same timeframe in other markets, including Nevada, Maryland, Colorado, and Oregon, with the biggest drop coming in Nevada, with a year-over-year decline of 21% in sales for the first 10 months of the year. Beverage sales were about flat in Arizona and Illinois, the report found.

The number of cannabis beverage brands in the U.S. may also have hit a peak already, Headset found: In January 2021, there were 111, and that shot up to 199 in mid-2022, before dropping to 183 as of October. That’s accompanied by a steady drop in product prices,

“Consumer demand for Beverages may be slowing down in the US, which may explain the brand decline we are seeing,” Headset reported.

The report also found that consumers “seem to gravitate towards the higher dose packages in the US,” noting that “half of all beverage sales go to the 100 mg per package category, similar to what we see with edibles.”

“This is likely due to the higher value; more THC for a lower price point is hard to beat,” Headset reported.

The report was overall bullish on the beverage sector, however, and noted in its highlights that infused drinks as a niche has garnered 40% more market share in both the U.S. and Canada since January 2021.


Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 4 hours

Georgia Medical Cannabis Program Rules Delayed over Technicality

@GreenMarketRpt – 4 hours

Illinois Cannabis Sales Bolstered by New Stores in January

@GreenMarketRpt – 4 hours

Bright Green Attempts to Lure Investors to Its $500 Million Offering

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.