America’s cannabis industry has achieved a great deal despite its young age. Initially, smoking cannabis flower was the most common consumption method, but as the industry matured, cannabis companies started developing alternative marijuana products. Customers can now buy a wide variety of cannabis-infused edibles and concentrates, which were a lot safer than flower because they do not involve smoking. However, if the cannabis market has proved one thing, it’s that it is constantly in flux, with customer preferences evolving and companied coming up with new products to meet demand.
These days, edibles and beverages are winning over more new users compared to other consumption methods. This is partly because consumers are turning away from flower and vapes due to the respiratory risks they present, industry observers say. Dominic Cundari, general manager at Michigan-based ArborSide, says that he sees new users, plenty of them with years of smoking cigarettes behind them. who don’t want to put another combustible in their bodies. Consequently, they have been turning toward edibles, which present a significantly reduced health risk. Despite national trends that skew toward concentrates and flower, Cundari says edibles have been outselling concentrates at his store.
Cannabis-infused beverages have also seen a surge in popularity as customers seek alternatives to alcohol. Beverages are relatively new to the market, mostly because the technology needed to brew consistently smooth cannabis drinks still hasn’t been perfected, and experts say the beverage segment is poised to experience significant growth. Edibles are also looking at a lucrative future, Cundari and other industry players believe, partly due to the ease of use, popular brands, familiarity and new innovations. America’s cannabis space doesn’t have many well-known brands because of strict advertising limitations, but Cundari believes branding will play a major role in attracting and retaining customers.
With Michigan’s recreational cannabis market steadily maturing, more cannabis companies are promoting their products. People are becoming accustomed to seeing these advertisements, says Cundari, and this will help promote their brands and make them more recognizable.
Jeff Finnerty, the head of marketing at Ayr Wellness, a multistate operator based in New York, has also noted the increased customer interest in infused beverages and edibles. Innovations such as nano-emulsification, which allow beverage companies to finally infuse cannabinoids into water, as well as familiarity are partly responsible for this shift, he says. He notes that beverages and edibles are especially popular with new users who may be nervous about smoking or vaping and find beverages and edibles more familiar.
Entities such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are at the forefront of pushing the path of innovation in the cannabis drinks space; these companies stand to reap major benefits as these drinks carve out a larger share of the total marijuana market.
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