Along with cannabis legalization has come a seemingly endless choice of ingestion methods: a wide array of edibles, vapes, capsules, tinctures, oils and more. And, of course, there is raw bud—still by far the most popular product. Meanwhile, big money is pouring into yet another delivery method: cannabis-infused beverages.
But do very many people really want to drink their weed? It remains an open question. Grand View Research, which studies cannabis markets, forecasts that annual worldwide sales of cannabis beverages will hit $2.8 billion by 2025, representing a compound growth rate of nearly 18%. Meanwhile, the overall market for legal cannabis will grow to more than $70 billion by 2028, a compound growth rate of nearly 27%, Grand View estimates.
Sales of cannabis beverages are dwarfed not only by weed sales, but also by other categories of edibles. Still, there’s clearly a market for drinkable weed, whether the kind that gets you high or CBD elixirs sold as “wellness” products. But how big a part of the overall cannabis market beverages will become depends on whether it’s merely a novelty-driven fad.
It might well be. This week, Derek Prentice, founder The Proper Cannabis Co., which makes pot-infused beverages, was remarkably candid in an interview with MJBizNews, a trade publication. The market for cannabis beverages is “a little stagnant right now,” he said. “I think in the short term, people just aren’t turning to beverages first when it comes to…
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Along with cannabis legalization has come a seemingly endless choice of ingestion methods: a wide array of edibles, vapes, capsules, tinctures, oils and more. And, of course, there is raw bud—still by far the most popular product. Meanwhile, big money is pouring into yet another delivery method: cannabis-infused beverages.
But do very many people really want to drink their weed? It remains an open question. Grand View Research, which studies cannabis markets, forecasts that annual worldwide sales of cannabis beverages will hit $2.8 billion by 2025, representing a compound growth rate of nearly 18%. Meanwhile, the overall market for legal cannabis will grow to more than $70 billion by 2028, a compound growth rate of nearly 27%, Grand View estimates.
Sales of cannabis beverages are dwarfed not only by weed sales, but also by other categories of edibles. Still, there’s clearly a market for drinkable weed, whether the kind that gets you high or CBD elixirs sold as “wellness” products. But how big a part of the overall cannabis market beverages will become depends on whether it’s merely a novelty-driven fad.
It might well be. This week, Derek Prentice, founder The Proper Cannabis Co., which makes pot-infused beverages, was remarkably candid in an interview with MJBizNews, a trade publication. The market for cannabis beverages is “a little stagnant right now,” he said. “I think in the short term, people just aren’t turning to beverages first when it comes to…
