Katelyn Baker
Well-Known Member
The success of cannabis edible products may be one of the surprises that occurred when marijuana was legalized. Unfortunately, the same hasn't happened for cannabis infused beverages.
According to Headset Cannabis Intelligence, total sales of cannabis beverages in the marijuana market is a relatively small at 1.66%. That's half of what it used to be in 2014, when beverage sales were 4% of the market and topped out at 5% in December. Since, then cannabis beverage sales have slumped.
"Total unit sales have increased steadily for beverages, but percent of market share continues to drop," said Cy Scott, Founder of Headset Intelligence. "I expect the little spike in the first couple months of sales was due to the newness and novelty of the products, as well as a very limited selection of edibles."
Scott also pointed out that edibles are seen as more convenient than beverages. "At the end of 2014 there were only 35 edible products, now there are nearly 600 to choose from, edible selection is growing much quicker and taking up more and more shelf space," he said.
The average price per item for beverages is under $20 and this month the average item price is $17.32. Even though sales and prices are falling, the market stays crowded. There are 84 distinct products spread over 10 brands. Yet, 85% of the all sales go to the top 3 brands.
The top three selling brands are Legal Beverages with 36% of the market share followed by Zoots with 29% and then Cannabis Quencher with 20% of the market share in dollars. The top three products by units sold are all Zoots flavors.
Customers won't buy beverages if they don't taste good," says a white paper prepared by Le Herbe, the maker of the beverage Formula 420. "Cost and taste will remain a major challenge for cannabis beverages but can be overcome by organic sun grown cannabis and proper beverage recipes like "Formula 420."
Their argument for beverages is that when a person smokes marijuana , they purchase 20 mg of THC, but only use 2-56%, with the rest going in the garbage. When a cookie with 20 mg of THC is consumed, only 6% is used and the effect is delayed. The Le Herbe beverage delivers 50-75% for the same 20 mg of THC.
Le Herbe believes consumers will eventually switch from most of he cannabis edibles that border on junk food, like cookies and brownies to healthy cannabis drinks.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Marijuana Drinks Not Causing A Buzz
Author: Debra Borchardt
Contact: 1 (866) 436-7237
Photo Credit: None Found
Website: Forbes
According to Headset Cannabis Intelligence, total sales of cannabis beverages in the marijuana market is a relatively small at 1.66%. That's half of what it used to be in 2014, when beverage sales were 4% of the market and topped out at 5% in December. Since, then cannabis beverage sales have slumped.
"Total unit sales have increased steadily for beverages, but percent of market share continues to drop," said Cy Scott, Founder of Headset Intelligence. "I expect the little spike in the first couple months of sales was due to the newness and novelty of the products, as well as a very limited selection of edibles."
Scott also pointed out that edibles are seen as more convenient than beverages. "At the end of 2014 there were only 35 edible products, now there are nearly 600 to choose from, edible selection is growing much quicker and taking up more and more shelf space," he said.
The average price per item for beverages is under $20 and this month the average item price is $17.32. Even though sales and prices are falling, the market stays crowded. There are 84 distinct products spread over 10 brands. Yet, 85% of the all sales go to the top 3 brands.
The top three selling brands are Legal Beverages with 36% of the market share followed by Zoots with 29% and then Cannabis Quencher with 20% of the market share in dollars. The top three products by units sold are all Zoots flavors.
Customers won't buy beverages if they don't taste good," says a white paper prepared by Le Herbe, the maker of the beverage Formula 420. "Cost and taste will remain a major challenge for cannabis beverages but can be overcome by organic sun grown cannabis and proper beverage recipes like "Formula 420."
Their argument for beverages is that when a person smokes marijuana , they purchase 20 mg of THC, but only use 2-56%, with the rest going in the garbage. When a cookie with 20 mg of THC is consumed, only 6% is used and the effect is delayed. The Le Herbe beverage delivers 50-75% for the same 20 mg of THC.
Le Herbe believes consumers will eventually switch from most of he cannabis edibles that border on junk food, like cookies and brownies to healthy cannabis drinks.
News Moderator: Katelyn Baker 420 MAGAZINE ®
Full Article: Marijuana Drinks Not Causing A Buzz
Author: Debra Borchardt
Contact: 1 (866) 436-7237
Photo Credit: None Found
Website: Forbes
