Beverages struggle to gain footing and market share in marijuana retail
Cannabis-infused beverages receive a lot of hype when they are rolled out, but they seldom turn out to be the hit their financial backers expect.
Cannabis-infused beverages receive a lot of hype when they are rolled out, but they seldom turn out to be the hit their financial backers expect.
Sales of marijuana-infused edibles nearly tripled from 2018 to 2022, increasing almost $535 million to more than $1.4 billion, according to Seattle-based analytics company Headset, which tracks regulated cannabis markets.
Cannabis industry analysts and retail buyers say concentrates have made significant advances in the past 12 to 18 months—especially in more mature markets and among frequent cannabis consumers.
This goes for both stand-alone concentrates and infused products such as pre-rolls, vape cartridges and edibles.
More than three years after illicit vape cartridges caused a health scare that set back the legal vape cartridge industry, regulated sales of cannabis vaping supplies have more than rebounded, according to sales statistics and retail purchasing agents.
Flower has lost some market share to other marijuana products in recent years, but consumers aren’t replacing flower with concentrates, edibles and vapes.
In fact, flower consumption and total dollars spent in the category have increased, even as flower’s market share has decreased.
The regulated cannabis industry in the United States is well into its second decade, but how products, brands and consumers are evolving remains fluid.
New product types and cannabis consumers are created every day, while sales experts report that veteran users are buying more and seeking greater variety.
Multistate marijuana operator Curaleaf Holdings will pay $100,000 to settle a class action lawsuit in Oregon stemming from a deadly labeling mix-up in 2021.
Detroit regulators received 90 applications for the 60 recreational marijuana business licenses available in the city’s first phase of licensing.
Green Thumb Industries, one of the biggest multistate operators in the U.S., signed an agreement with Circle K – one of the largest convenience-store chains in the world – that allows the cannabis company to lease space and open medical marijuana dispensaries adjacent to Circle K locations in Florida.
Major League Baseball (MLB) and Charlotte’s Web Holdings, one of the best-known companies in the CBD industry, signed an agreement designating the Colorado company as the league’s first official CBD sponsor.
As cannabis executives watch the 2022 midterm elections, one factor that could affect races for seats in the U.S. House of Representatives – and the likelihood of federal marijuana reform – is congressional redistricting.
Schwazze, a Denver-headquartered vertically integrated multistate operator, entered an agreement to pay $2.75 million to acquire “certain assets” of Lightshade Labs, a 10-store Colorado chain.