120
(Marijuana.ca – “Medical marijuana patients now able to consume marijuana and use extracts and derivatives!” www.marijuana.ca)
And so it begins, in Canada at least. The US market has already approved sale of edible forms of cannabis and the market is growing significantly.
According to ArcView Market Research, edibles and other infused products, defined as anything other than the bud itself, make up at least half of the total $6.7 billion market in North America, and the total market for marijuana is expected to top $20.2 billion by 2021 as Canada moves toward implementing legal recreational marijuana use. (Business Wire – “North American Marijuana Sales to Top $20.2 Billion by 2021, Grew 30 Percent in 2016” www.businesswire.com)
Now, as consumers and patients continue to look for more discrete and health conscience ways to take their required dosage or even just to enjoy it recreationally, the growth in edibles in one form or another has seen measured gains. In Colorado alone, where edibles are legal, the state logged over $1 billion in total marijuana sales in 2016, with recreational sales accounting for approximately $875 million. Edible sales increased 53% as depicted in the chart below for Q1 year-over-year comparative, outperforming the 11% increase in sale of marijuana flower. Washington State has also seen a rise in edible sales of 121% over the past year. (Forbes, Debra Borchardt – “Marijuana Prices Fall In 2016 As Growers Flood The Market With Pot” www.forbes.com)