As the cannabis market develops and expands across the United States, more new consumers will become regular consumers. Cannabis businesses must adapt to this rapidly changing consumer landscape and stay ahead of developing trends to excel in tomorrow’s industry.
Arguably the most rapidly evolving product category is cannabis-infused edibles, which is projected to make up a $2.3-billion market in 2018 and to become a $5.3-billion market within the next five years (a 130-percent increase), according to data from cannabis market research firm Brightfield Group. Given those numbers, staying abreast of changing consumer preferences is probably a wise business decision. Below are insights into the edibles categories that have bright futures and those that may see their popularity wane.
Sugar Candy – 5-Year CAGR: 15.94%
Bite-sized candies easily conform with micro-dosing requirements imposed by various states because they are small and individually dosed, making them a tempting product