As strange as it may sound, cannabis concentrates come second after cannabis flower in terms of sales, surpassing pot edibles by close to $1 billion annually. Actually, latest data shows that the cannabis concentrates sector could hit over $13 billion by 2026.
In 2017, the cannabis industry recorded $1.9 billion in the sales of concentrates while the edibles market was only about a billion. This growth potential of concentrates has had investors bothered and hot, with an Iconic Brand report showing that although the sales of edibles will more than triple in the next two years, cannabis concentrates sales could grow by nearly 10 times as much. These numbers prove that as much as consumers have been talking big game with respect to using cannabis for health and wellness, deep down inside, most of them just want to get freaking high.
Why Cannabis Concentrates?
The label “marijuana concentrates” pertains to an array