Cannabis Beverages Category Growth Outpaces Booming Cannabis Market

1.6 min readPublished On: January 17th, 2021By

In a new report out now: “Drink: Insights into the US & CAN Cannabis Beverage Market,” BDSA’s Kelly Nielsen was joined by industry expert panelists Luke Anderson of Cann, Lori Hatcher of Truss Beverages and Jeremy Marshall of Lagunitas.

In the U.S., beverages account for about 5% of total edibles sales. In Canada, in Alberta and British Columbia, beverages’ share of edibles spending has risen quickly: from 3% in January to 23% in October, according to BDSA.

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In the U.S., 19% of cannabis Consumers* consume beverages, according to BDSA Consumer Insights’ survey of adults 21+ in fully legal states conducted in the first quarter of 2020. Of those, 8% prefer beverages to other types of cannabis products. In Canada, 10% of Consumers consume beverages and 3% prefer them to other products.In Canada, 57% consume edibles and 30% prefer edibles products to others. 

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 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 in 2025.

Source: BDSA

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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