Adam JacksonNovember 21, 2023
The company's market share in the edibles sector remains strong.
edibles Archives - Green Market Report
Adam JacksonNovember 21, 2023Adam JacksonJune 15, 2023
Predictability is key.
Debra BorchardtMay 30, 2023
A new report published by Facts and Factors has determined that the global cannabis edibles market size was worth around $20.5 billion in 2022 and is predicted to grow to around $197.75 billion by 2030 with a compound annual growth rate (CAGR) of roughly 32.041% between 2023 and 2030.
North America Leads
The report stated that the global cannabis edibles market is growing at a rapid rate and it is projected to register the highest CAGR in North America with the US and Canada acting as significant contributors. The growth is attributed to the growing legalization of cannabis consumption in the edible format in many states of the US. Canada had legalized cannabis intake for recreational purposes in 2018. Increased research into CBD edibles could also cause an increase in consumption. Europe’s market could contribute to this growth as edibles offer discreet consumption, which this market desires.
One challenge to the growth of edibles is the continuing social stigma around cannabis.
Recent Developments
In February 2023, scholars at the Johns Hopkins Medicine Institute, in a recent study, found out that CBD when consumed in edible form can restrict the breakdown of tetrahydrocannabinol (THC) resulting in longer-lasting and stronger interactions with the drug. The study also found that higher doses of CBD edibles could cause a more intense THC high.
Market Leaders
The global cannabis edibles market is led by
- Organigram Holdings Inc.
- Aurora Cannabis Inc.
- Charlotte’s Web Holdings, Inc.
- Canopy Growth Corporation
- Plus Products Inc.
- Wana Brands, Medical Marijuana, Inc.
- Tilray Inc.
- Terra Tech Corp.
- Cronos Group Inc.
- Dixie Brands Inc.
- Lord Jones LLC
- Aphria Inc.
- Nutritional High International Inc.
- The Green Organic Dutchman
- Bhang Inc.
- HEXO Corp.
- Kiva Confections,
- Americann Inc.
Adam JacksonMay 18, 2023
The bakery was ultimately shuttered due to health department violations.
Adam JacksonApril 18, 2023For the full fiscal year, Indiva reported a 6.8% rise in net revenue.
Debra BorchardtSeptember 21, 2022
Vireo sues the state of Minnesota over uneven edible law.
StaffMay 3, 2022
The fast-acting edible company 1906 has secured a seven-figure investment from Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and the leading source of financing and ongoing support for Connecticut’s innovative, growing companies. According to the company statement, it is a first-of-its-kind investment by a state venture fund in a cannabis business.
“Along with our confidence in 1906’s future prospects, CI’s investment also recognizes the increasingly important role the cannabis industry will continue to play in the economic, health, and social development of the state,” said Lauren Carmody, vice president of marketing at Connecticut Innovations. “With its track record of innovation and success, 1906 is a great addition to CI’s expanding portfolio. This investment will help accelerate the company’s ambitious plans for growth and establish 1906 as the first of many cannabis industry leaders based here in Connecticut.”
1906 edibles are different from other due to its fast onset time. These edibles typically have a psychoactive onset of 20 minutes or less. The company has six different thoughtful formulations of super-powerful plant medicines like Bliss for happiness and Go for energy. The company prides itself on its moderately dosed cannabis.
CI’s decision to invest in 1906 was prompted by the company’s leadership position as the number one cannabis pill in the U.S., successful revenue generation as well as its commitment to and leadership in the areas of employment, health and wellness, and social justice. The investment aligns with CI’s mission to promote innovation and diversity in Connecticut and supports efforts to prioritize public health, public safety, social justice, and equity. 1906 has a commitment to patient and consumer advocacy, as well as its strong stance on pressing social justice issues, has made 1906 a leading voice in the industry.
“CI’s investment in 1906 is a major milestone for the cannabis industry — institutional investors don’t need to wait on the sidelines for changes to federal laws before they participate in the cannabis market (or funding the growth of this industry),” said Peter Barsoom, CEO of 1906. “The investment from CI will help us grow our business in the state and squarely positions 1906 at the center of the cannabis movement in the Northeast at exactly the right time. We are excited to bring 1906 and our products to Connecticut.”
Connecticut Innovations joins other investors, including Arcview and Merida, in this current round of funding.
Julie AitchesonApril 18, 2022Legal cannabis loopholes are sparking both innovation and creative evasion in today’s cannabis industry, and a host of law professionals are taking pains to elucidate them for clients in cannabis who risk both profit and loss by operating within them. After doing our due diligence with some of the cannabis industry’s top law professionals, Green Market Report has composed a list of the top five legal loopholes keeping things interesting in cannabis right now.
CBD
According to Morgan Davis, founder and CEO of Davis Legal, CBD products for food and beverage consumption present one of the most commonly exploited legal loopholes. CBD is still not FDA-approved, but consumables are commonly available everywhere from gas stations to Whole Foods and online retailers. “There are some states that have enacted regulations allowing for hemp and CBD products for human consumption,” Davis says, “but a majority have not. Nevertheless, a consumer can buy hemp and CBD food and beverage products for consumption in almost every state in the U.S.”
David Feldman, CEO of cannabis strategic advisory firm Skip Intro Advisors, puts Delta-8 at the top of his loophole list, and he’s not alone. Legal Associate Demetria Hamilton, in a blog post for law firm Bryan Cave Leighton Paisner (BCLPDigest.com) states that while Delta-8 THC is derived from CBD extracted from hemp plants and has been found to provide a “high” distinct from Delta-9, it still falls under the Farm Bill’s definition of “hemp”. “In other words,” she writes, “while Delta-8 is another name for Tetrahydrocannabinols, its presence in any quantity provides a risky grey area for brave cannabis producers to work-and profit- within.”
Sex & Wellness
Both Feldman and Davis are of the opinion that the medical marijuana market is another realm where cannabis businesses find workarounds to get their products into consumers’ hands. Davis cites “period care”, such as CBD or THC tampons, which are not FDA-approved and, as “medical devices”, are prohibited from including THC or CBD yet are still available online and throughout the country. Sex and wellness is another avenue for loopholes. As “medical devices”, sex toys are regulated by the FDA, thereby prohibiting cannabis as an additive. Cannabis is also not approved by the FDA to enhance the sexual experience or treat sexual dysfunction, yet products (e.g. THC strains specifically targeted to enhance sexual experience, infused lubes, cannabis condoms, etc.) that address exactly those needs are gaining in popularity. “The loophole,” says Davis, “is that most of the companies either sell their product as a topical or “novelty item” to avoid the medical device issue. Add in some creative marketing to avoid being prescriptive and, so far, these products have avoided much scrutiny or enforcement.”
Both Davis and Feldman agree that “gift culture” has long been used as a means of circumventing legal restrictions by including cannabis gifts with a different purchase, such as a sticker, patch or poster advertising the company. A “donation economy” offers a similar workaround, and one that has been utilized in California’s medical market for twenty years. Customers make a donation in an amount equivalent to the cost of a cannabis product, then receive the product as a “free gift” as a token of appreciation for the donation.
Hospitality
“Cannabis hospitality” is a sector of the market where legal loopholes are helping cannabis consumers enjoy products outside of their homes. Restaurants or lounges may offer consumption options like joints or edibles without possessing the requisite retail license, while hotels, event spaces and even campgrounds can take advantage of private property laws to allow them to host cannabis consumption on their property. This does not extend to national parks and property owned by the Bureau of Land Management, which adhere to federal regulations and where cannabis and certain CBD products are illegal at all times. State parks may be more flexible depending on the state’s marijuana regulations. For example, information officer for California State Parks Adeline Yee confirms that “persons 21 and older may possess up to 28.5 grams of marijuana” at California state parks. Smoking or ingesting cannabis in California state parks is still illegal, however, and may only occur on private property.
Morgan Davis observes that some of today’s hottest trends in cannabis are operating in many of these legal grey areas, driven by those who choose to believe that if something is not very specifically prohibited by law, it is legal. “It’s still an exciting interval to watch,” Davis says. “The first one through the wall might get the bloodiest, but they’ll clear the path for all of the monumental ways this plant can transform lives.”
StaffMarch 5, 2021
Editors note: This is a guest post.
If you’ve grown wearisome of old-age methods of consuming CBD, you will absolutely love CBD gummies. They are like squishy candies that are sweet and flavorsome but are jam packed with cannabinoids. Compared to vapes and tinctures, it is a unique but more fun way to introduce this phytonutrient in your system.
You can also find gummies infused with other powerful nutrients such as apple cider vinegar, spirulina, turmeric, and so many more. Since they are a unique type of CBD and are available in many blends, it is overwhelmingly challenging to find the right match for you.
So, follow our guide to find out what you should look for in CBD gummies.
-
The Right Types
Not all CBD gummies are formulated the same, some are highly potent, whereas others come with better flavoring. Here are the three most common types currently available in the market:
-
High-Dosage Gummies
On average gummy usually contains 5 to 10 mg of CBD — a pretty decent dosage. CBDfx, on the other hand, harbors 50 mg/ serving, which is equivalent to a full-day requirement of CBD. If you are looking for a highly potent gummy, this is your product.
-
Gourmet Gummies
For candy-lovers who seek a burst of sweet flavors, gourmet gummies are worth giving a shot. However, they come in a huge flavor spectrum, which includes peach rings, sour gummies, fruity flavors, and so much more. They are formulated to obscure CBD’s flavor, giving you a more fun experience.
-
Nutrient-Enhanced Gummies
It is a great concept to blend flavorings, CBD, minerals, and vitamins to create a full package of nutrients. Such edibles are becoming increasingly popular for providing such a delightful way to fill nutrient gaps. So, you couldn’t be happier with this type of CBD, however, they are slightly more expensive than other types.
-
CBD Source
CBD is extracted differently, giving us three distinct types based on purity level — isolates, broad-spectrum, and full-spectrum. If you are looking for the purest forms of CBD, then isolates are what we recommend. They are devoid of terpenes and volatile organic impurities, making the product perfect for medicinal purposes.
Broad-spectrum CBD lacks THC and contains a high concentration of cannabinoids. On the opposite, full-spectrum CD offers different cannabinoids as well as THC, which is why it is known for triggering psychoactive effects.
-
Ingredients
Since we are talking about edibles, there is more than just CBD involved in the formula. Some companies use preservatives to make them suitable for long-term use. Also, there are many artificial ingredients and sweeteners to enhance flavorsome hints in the servings.
Those who suffer from allergies, or are following a strict vegan diet, should stay away from ingredients like fructose corn syrup. Therefore, read the ingredient list thoroughly to watch out for unwanted compounds before getting a bottle of CBD gummies.
Not always artificial elements are involved in the formulation as 100% organic CBD gummies are also available. Everything from the natural flavoring to the color is extracted from organic sources in such ideal products.
-
Optimum Potency
As mentioned earlier, the potency of CBD gummies does not remain the same for all types. For instance, a 10 mg CBD isolate would not be as potent as a 10 mg full-spectrum CBD. Also, the amount a person should intake in a single day varies, depending on the type of health condition you are aiming to treat. For serious problems like chronic pain and stress, you may have to consume more than usual to enjoy optimal effects.
However, if you are not sure of the dosage, then it is best to experiment with a little amount first. Starting from point zero will give you a rough idea of how much CBD your body desires.
-
Third-Party Testing
At the moment, CBD gummies are not FDA approved, meaning they don’t guarantee the quality, effectiveness, and safety of these products. Still, if you have to reap maximum benefits without having to suffer from detrimental side effects, it is best to research the product’s quality.
You can check whether the ingredients have been inspected for impurities such as molds, pesticides, heavy metals, and other unwanted compounds. Also, you can compare the lab results from COA with the claimed amount of THC and CBD to verify the concentration.
-
A Delicious Flavor
Since they are candies, they are meant to be delicious — that’s why they are formulated in the first place. They come in a myriad of flavor options, including fruity, sour, chocolate, flowery hints, etc., depending on the ingredients.
The most popular range of flavors is the fruity spectrum — apple, strawberry, pineapple, pomegranate, and so on. However, manufacturers have discovered a unique blend of flavors as well to attract the crowd, giving them something different to try. It wouldn’t be wrong to say that you will be introducing a mouthful of happiness in your body, which is an experience worth having.
Julie AitchesonDecember 21, 2020With every passing day and every new bit of legislation passed, more products containing CBD hit the shelves. Word is out that cannabinoids have real and lasting benefits, particularly when it comes to troubleshooting some of the most persistent maladies plaguing consumers today, including anxiety, insomnia, and pain. Word is also out that not all CBD products are created equal, and that the potency promised on packaging may not be an accurate reflection of the product within. According to the CBD Edibles Market Report (resulting from a collaboration between Leafreport and their partner lab Canalysis, this issue is particularly pronounced when it comes to edibles.
The report found that edibles, one of the fastest-growing categories in the CBD market, are harder to measure compared to tinctures, capsules, and other products. The reason given for this is that “CBD edibles are more difficult to formulate than CBD oil and contain much smaller amounts of CBD per piece, which means that variations of even a few milligrams can have a big effect.” “Big” is no exaggeration. The analysis, which incorporated 40 products and 21 brands, found that 63% of products tested contained more CBD than stated on the label, with only 11 out of the 40 tested edible products containing CBD levels within 10% of the claimed amount. That’s only 27.5% of products that meet industry experts’ recommendation that cannabis products deviate no more than 10% from the label.
Indeed, only 25% of the products tested had CBD levels close to the amount advertised, with a whopping 75% of products off by anywhere from 11% to 177%. Third-party testing, which involves sending products to an independent lab to verify potency and safety, used to be considered a safeguard against such wild variability, but that does not appear to be the case in every instance. One would expect that the brands with the highest accuracy rating would be from larger or more established companies, yet this, too, was not the case. Using an A through F rating system, with “A” representing products with CBD levels within 10% of what is stated on the label and “F” those products where CBD levels differed from the label by more than 30%, most A-rated brands were from relatively small or new companies (like Vermont’s VT CBD) while some of the more established (like American Shaman) received “F” ratings, and they weren’t alone. 30% of products tested received Leafreport’s worst rating.
Although third-party testing did not prevent companies that used it from putting out products whose potency did not match the label, it was a consistent factor among those that scored well. Independent test results still matter, and the responsible consumer would do well to pay them heed. For those who don’t want to take the kind of gamble on the potency that edibles represent, Leafreport’s study concludes that CBD oil is the safer option to make sure you’re getting your money’s worth.
Get the latest cannabis news delivered right to your inbox
Unpack the industry with the daily cannabis newsletter for business leaders.