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Nearly $3 Billion of U.S. Cannabis-Infused Product Sales Predicted for 2020 – Olean Times Herald

WASHINGTON–(BUSINESS WIRE)–Apr 20, 2020–

“As alternative ways to consume cannabis beyond combustibles gain popularity during the current coronavirus (COVID-19) crisis, not surprisingly we are seeing a spike in consumption of edibles and other infused products,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “We anticipate demand for innovative non-combustible ways to consume cannabis both recreationally and medicinally to continue to grow.”

Key findings from the report include:

  • Infused cannabis products will approach $3B in U.S. sales in 2020.
  • Infused cannabis products represent 14% of sales and are the third most popular cannabis product type in the United States behind flower and vape.
  • Solid edible products, led by gummies, comprise >90% of the top-selling infused products.
  • Infused product consumers are much more likely to primarily source their cannabis products from cannabis dispensaries than the overall population of cannabis users (37% vs. 15%).
  • Quality metrics like dosage and ingredients are of paramount concern for infused product purchasers.
  • Advancements in manufacturing processes such as CO2 extraction and emulsion are used to meet industry standards – increasing bioavailability, consistency and stability of infused products.

About New Frontier Data:

New Frontier Data is an independent, technology-driven analytics company specializing in the global cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators, researchers and policy makers. New Frontier Data’s reports and data have been cited in over 80 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C., with additional offices in Denver, CO and London, UK.

New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry worldwide. For more information about New Frontier Data, please visit: https://www.NewFrontierData.com.

About SōRSE Technology:

SōRSE Technology is a water-soluble emulsion technology designed for product developers to provide consumers with a better cannabis experience with greater bioavailability, near-perfect dosing, shelf-stability, and safe ingredients. Their patent-pending technology converts oil into SōRSE, a proprietary water-soluble emulsion, for seamless integration as an ingredient in food items, beverages, topicals, and medical applications.

CONTACT: Caroline Kowalski

KEYWORD: DISTRICT OF COLUMBIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES ALTERNATIVE MEDICINE OTHER RETAIL HEALTH SPECIALTY FOOD/BEVERAGE RETAIL

SOURCE: New Frontier Data

Copyright Business Wire 2020.

PUB: 04/20/2020 08:00 AM/DISC: 04/20/2020 08:01 AM

Written by homegrownreview

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