New data released by Nielsen shows that people who live in states where marijuana is legal snack more than their counterparts in states with prohibitionist laws. The uptick in the sales of snacks was noticed for sweet and well as salty snacks.
This study suggests that legalizing recreational marijuana can create a boom for the confectionary and snack segments of the food and beverage industry in the U.S.
While snacks sales saw a modest 6 percent increase in states where marijuana is still prohibited for recreational use, states that tolerate adult-use marijuana registered an increase of 7.2 percent in the sale of snacks.
In total, candy sales generated approximately $6.5 billion during the period under review. For this item alone, an increase of 2 percent was observed in states with legal recreational marijuana while those without these laws saw a modest 1.3 increase in the sale of candy.
It appears that salty snacks are the preferred option for cannabis users who get the munchies because the states where adult-use marijuana is legal generated $30 billion from the sale of salty snacks alone.
Nielson used this data to assert that no other single factor was responsible for the difference in the sales of snacks in the states where recreational cannabis is legal.
This claim may be credible because there is ample anecdotal and scientific evidence proving that consuming marijuana boosts one’s appetite and enjoyment of food. The data collected by the census divisions of the U.S. federal government also points to the fact that people get the munchies in states where recreational-use marijuana has been legalized.
Currently, 11 states and Washington, D.C. have legalized recreational cannabis while more than half of the union has given the nod to medical marijuana. Each round of elections now appears to bring more states on board either for recreational or medical marijuana, so the entire country could soon have legal marijuana in some form.
However, the federal government still maintains cannabis as a Schedule I drug although recent events, such as the congressional subcommittee hearing on how to end prohibition may suggest that the federal government could soon revise its position on marijuana.
Analysts posit that players in the cannabis industry, such as Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) and Organigram Holdings Inc. (TSX.V: OGI) (NASDAQ: OGI), will not regard the findings of this study as anything new since the industry has known for long that cannabis has a positive effect on those with poor appetite.
About CNW420
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have a questions or are you interested in working with CNW420? Ask our Editor
CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com
