It’s prompting edibles manufacturers to invest in research and development
Sales of edibles skyrocketed across the nation in 2020 as consumers shied away from inhalable forms of cannabis during the COVID-19 pandemic in favor of more discreet consumption methods.
The surge is prompting edibles manufacturers to invest in research and development and new product lines for 2021.
End-of-year data from Seattle-based cannabis analytics firm Headset shows that for all of 2020, sales of adult-use and medical edibles grew by 60% across seven state markets – to $1.23 billion in 2020 from $767 million in 2019.
That performance meant edibles outperformed the total cannabis market, which grew a hefty 54% last year.
The seven states were California, Colorado, Massachusetts, Michigan, Nevada, Oregon and Washington.
According to Headset data analyst Cooper Ashley, edibles increased their market share from 10.65% in 2019 to 11.07% in 2020.
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