The world of recreational and medical marijuana has exploded over the last few years. And if you think that cannabis lovers are just ripping bong hits and rolling joints, then you are quite mistaken. Edibles are an entire new genre of cannabis consumption that has been becoming increasingly popular as more and more people are finding that they prefer this consumption method a lot more than others.
Why Are Edibles So Popular?
Edibles are more approachable for non-smokers mainly because they appear less intimidating as compared to smoking from a bong and they are easy to consume. A high from cannabis edibles comes on a lot more slowly, lasts for relatively longer time, and also comes down more gently as well.
Medicinally speaking, cannabis edibles are more ‘body-focused’ as compared to regular smokable weed. They are great for individuals who use them to treat things like nausea, appetite loss, and physical pain. There are lots of other reasons why edibles are a popular method of cannabis consumption as compared to smokable marijuana.
Future of Cannabis Edibles
According to recent reports, the trends suggest that cannabis edibles are expected as a $4.1 billion industry by the year 2022. Another, separate forecast projects that the edibles will become a $11.5 billion market globally by the year 2025. The edibles are already eating up the cannabis market as it has exceeded the growth expectations for years 2017 and 2018. Cannabis investors see why edibles will grow at an extremely rapid rate, those projections look very conservative.
Edibles are becoming democratized and commonplace. They are not a means to an end anymore; consumers don’t just want the resulting high, they want to enjoy the experience of consumption itself. The edibles also have a greater appeal than vaping mainly because they are relatively discreet to consume and don’t have the same harsh effects on lungs.
The Edibles Market is Exploding
Edibles are the craze nowadays. That’s why a lot of companies are using different strategies to stay ahead of the competition in this market. Advances in technology allows manufacturers to adjust things like concentration of CBD (the relaxing element) and THC (the psychoactive element) in their products to produce the intended effect. Cannabis investors and entrepreneurs are focusing on infusing a wide range of goods with cannabis, from IPAs to truffles e.g. stouts and gourmet sweets e.g. gummy bears. There are even cannabis-infused lattes and sodas available on the market.
The growing appeal of edibles is, without a doubt, a direct result of cannabis’ journey towards legalization. So far, a number of states in the U.S. have legalized cannabis for recreational use for those 21+. This means the access to cannabis is now more open. Providing producers the opportunity to not only openly source cannabis, but also choose the exact strain that they want. As the legalization of cannabis spreads across various states, the stigma that surrounds its use is beginning to decrease. It’s no longer a drug of high school dropouts or hippies. In fact, millennials are increasingly viewing cannabis as a safe form of relaxation, even safer than alcohol.
However, it is in a Precarious Situation
There are still some serious obstacles that stand in the way of cannabis industry. Most authorities want to exert federal law that bans cannabis, overriding individual state laws that have legalized it. If that ever happens, it would have a great impact on the cannabis and hence the edible industry. There are various opinions on whether this news has affected investments in cannabinoids/cannabis. According to some sources, investors aren’t spooked, while there are others that disagree.
While these challenges might make things unsteady or difficult for the cannabis industry going forward. The edible market is still booming within the industry. According to the report of BDS Analytics, the sales of edibles jumped 67% within just a year from 2016 to 2017.
A lot of entrepreneurs are acknowledging the growth in this sector and beginning to invest in cannabis edibles and tech. Many companies and cannabis investors are spending millions of dollars in the cannabis edibles market. As they know how profitable the cannabis industry will be in the coming years.
All in all, the cannabis edibles industry may be in a risky situation until the legalization of marijuana on a federal level. but for now it’s popularity is increasing at a rapid rate.