Total spending on legal cannabis in the United States is set to more than double to $34.5 billion by 2025—and the edibles product category is outpacing that rise considerably.
In Canada, where edibles just made their debut late last year, the category is growing much faster than the overall market, which is forecast to reach $6.1 billion in 2025. .
Reasons for consumption vary but the top three are: to sleep better (48%), to relax/be mellow (45%) and to relieve pain (43%). Taste/flavor drives purchases for 38% of respondents, though low price (30%) and brand familiarity (27%) are also important factors.
Products containing CBD have begun to take off in U.S. general retail but current Food and Drug Administration restrictions on using CBD as a food additive have kept legitimate manufacturers away from offering CBD edibles in the general retail channel.
BDSA expects the FDA to lift those restrictions in 2021, opening the way for edible products in what could be a $13.2 billion market for non-THC cannabinoids in U.S. general retail.
Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.
Episode 621 of The Talking Hedge:
Your Cannabis Business Podcast.
Covering cannabis products, reviews, business news, interviews, investments, events, and more.
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
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Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.
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