Edibles were the cannabis product of 2020.
According to cannabis analytics firm Headset, data shows how sales of both recreational and medical edibles jumped by 60% across California, Colorado, Massachusetts, Michigan, Nevada, Oregon and Washington. In total, sales reached $1.23 billion in 2020 from $767 million in the prior year, reports Marijuana Business Daily.
This means that edibles surpassed the entire cannabis market that improved by 54% on an annual basis.
Cooper Ashely, a data analyst from Headset, explained that edibles advanced their market share from 10.65% in 2019 to 11.07% in 2020.
What caused the rush for edibles in 2020?
The global COVID-19 pandemic inspired consumers to avoid inhalable products and opt for edibles.
The newly-established enthusiasm for edibles is inspiring producers to further support research and development of new product types, according to Marijuana Business Daily.
“We’re seeing the edibles space get a little more sophisticated, and we expect that to continue,” Ashley said.
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