In our last Marijuana Market Watch article, we discussed cannabis investments and told you the top five cannabis stocks to watch this year. We already know that the cannabis market is booming and projected to expand to an astounding $70.6 billion by the year 2028, nevertheless, it’s not only the dried flower that’s pushing this growth. Researchers worldwide are taking an active interest in the medicinal properties of the plant and that is pushing growth perhaps because it is bolstering the social and cultural acceptance of marijuana. Parallel to increased social and cultural acceptance is the development of cannabis products that counter behaviors associated with stigma, i.e. smoking. In this manner, cannabis edibles in particular have gained serious traction.
Less Stigma Surrounds Weed Edibles
Edibles have the advantage of being a consumption method that can be associated with behaviors acceptable in the most conservative of cultures for example: snacking, chewing gum, or mints. Manufacturers have developed packaging that resembles big-name breath mints or candies, and to this end they’ve been highly successful.
Cannabis Trends and Projections in the Edibles Market
In 2019, the Zion Market Research report, Cannabis Edibles Market – Global Industry Analysis:
“The global cannabis edibles market is expected to generate around USD 13.654.3 million by 2025, at a CAGR of around 30.5% between 2019 and 2025. The growing acceptance of cannabis is the key factor likely to drive the cannabis edibles market globally in the future.”
However, marijuana edibles continued to grow at a faster rate than projected, and in 2020, Data Bridge Market Research group released their report of the market trends, Global CBD Edibles Market – Industry Trends and Forecast to 2027, which showed even higher numbers, “Data Bridge Market Research analyses the market to account to USD 5160 million by 2027 growing at a CAGR of 24.30%.”
While the numbers seem to change constantly, one truth remains clear: the importance of edibles in cannabusiness is expanding. Nevertheless, there are some risks associated with edibles that could negatively impact the market.
Risks Associated to Cannabis Edibles Market Growth
According to the Visual Capitalist, the edibles industry faces four types of risk to market growth: regulatory risks, competition, taxes, and consumer concerns.
- Regulatory Concerns – While it is almost impossible to die from a cannabis overdose, health problems including gastrointestinal issues and nausea can present as well as cardiovascular issues and extreme intoxication. Regulation by government agencies could help in this regard but limitations on potency, and absorption rate could dent industry growth as it works to adapt to varying regulation standards.
- Competition – The edibles market faces serious competition and requires a large amount of capital to enter. This ultimately may reign in the market growth as would-be market entries with valuable and delicious products can’t even get in the door. With difficult entry, the market faces threats of stagnation and lack of diversity.
- Taxes – As local governments hurry to enact and enforce taxation on cannabis products, it may backfire and end up driving current consumers and potential consumers toward black market products.
- Consumer Concerns – Stories circulating from the media about the aforementioned health concerns from overdosing on edibles could impact the market industry as well.
How to Safely Consume Your Edibles
Safely consume your edibles so there is no need for worry. It’s important to remember that when you consume cannabis through ingestion instead of inhalation, the rate of absorption is different. It’s a bad idea to take an edible, and then get impatient and eat another. Until you learn how your body absorbs edibles, be cautious and take a lesson in patience.
Edibles enter your body through your bloodstream by being absorbed through your body’s fat stores. This means they can take up to a few hours to actually kick in. Eat a meal beforehand because edibles on an empty stomach have been known to cause nausea. Eating foods high in fat prior to taking an edible has been linked to faster cannabidiol absorption. Although this method doesn’t involve inhalation, you can still experience dry mouth, so keep yourself hydrated (water!) and avoid alcohol.
B2B Cannabis Edibles Expo
In spite of the concerns mentioned the industry is plowing ahead. The Beverage Trade Network has created a live event focusing on cannabis edibles, the B2B Cannabis Edibles Expo, which will take place in San Francisco, California, and Chicago Illinois in November (2021). If you have a mind to travel and an interest in the edibles industry, this could be an exciting first-time event to witness. According to event coordinators, brands, dispensaries, chefs, and cannabis food professionals will be in attendance.
Naked Cannabis Edibles Selection
We love edibles and are proud of how the industry has grown. A far cry from your questionable-tasting pot brownies made in your dorm room kitchen back in the day, our selection of edibles with surprise you and make you a believer that weed edibles can taste delicious and give you the relief you want.
We offer edibles in a variety of forms: gummies, chocolate, brownies, cookies. Consumer favourite Bee Baked gummies are a hit with our community, but we’re happy to share that we’ve added other players to our edibles stores. Bliss, Buudabomb, Dose, Canndy Edibles, Ether Edibles, Potluck, and Mary’s are all available now!
Our edibles selection not only includes a variety of flavours and textures but a variety of effects. We offer cannabidiol (CBD) edibles for consumers who aren’t looking for the euphoric head high but instead a relaxation of their bodies for sleep assistance, anxiety, or treatment for pain. Our tetrahydrocannabinol (THC) infused edibles include both indica and sativa strains as well. Taylor your edibles experience to be the one you want.
