US Cannabis in Food and Drink Market Report 2022
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This report provides comprehensive and current information and analysis of the US Cannabis in Food and Drink market including cannabis beverage market size, anticipated market forecast, relevant market segmentation, and industry trends for the cannabis in food and drink market in the US.
63% of recreational cannabis users with an interest in trying edibles are looking for chocolate – a statistic that somewhat contradicts the overwhelming interest, use and availability of gummies, which tend to be fruity flavors. Chocolate-focused brands can learn from the gummy boom, providing consumers with bite-sized options rather than a brownie that must be portioned. More than drinkables, edibles also win with consumers looking to replace alcohol with THC, indicating that a BFY than booze message can apply to any THC product, not just ones that directly mimic alcohol.
Inflation is putting a dent in consumers’ spending and also is impacting brands, which are choosing to absorb higher costs due to extreme competition in some states. Because taxation structures already add a significant cost to cannabis products, brands are not yet willing to risk additional sticker shock. While some brands can afford to pivot and restructure, not all brands will be able to maintain this strategy long term.
Currently, threats to the market vary by state, leaving inconsistency across states one of the market’s biggest vulnerabilities. Operating in multiple states requires each link in the supply chain to be duplicated and, sometimes, an entirely different approach to marketing and pricing.
One of the biggest opportunities for cannabis food and drink are changes in legislation, specifically related to federal legal use. While this would threaten smaller brands, those that are already competing in several states are well-positioned to become the coveted brand leader of cannabis food and drink.
Read on to discover more about the US Cannabis in Food and Drink consumer market, read our US CBD in Food and Drink Market Report 2021, or take a look at our other Cannabis research reports.
Brands include: Curaleaf, Select Cannabis, UKU Cannabis, Canopy Growth, Constellation Brands, Cresco Labs, Mindy’s Edibles, High Supply, Azuca Time Infusion, Quiq, CANN Unspiked, TSUMo Snacks, Yummi Karma, Savory Pretzel, Love’s Oven, Select Squeeze, Hervé.
This report, written by Michele Scott, a leading analyst in the Cannabis sector, delivers in-depth commentary and analysis of the cannabis in food and beverage industry to highlight current trends and add expert context to the numbers.
Cannabis food and drink are growing segments of the larger cannabis market, holding strong potential for future growth. Edibles are a far more established sub-market than drinkables, but consumers show interest in a variety of flavors and formats among each. Edibles also win out as an alcohol alternative, indicating that brands can create messaging about THC as a BFY option even if the product is not a drinkable that mimics alcohol flavors.
Michele Scott
Associate Director
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