In a recent report dubbed, “Understanding the CBD Market in State-Legal Cannabis,” the rate of growth experienced by the CBD market has been expounded upon reports Green Entrepreneur. While CBD has been prevalently used by smoking, recent trends have indicated otherwise.
To be more specific, pre-roll and vape pens are still doing fine, however there are five other infusions that are performing fairly well, including the likes of beverages, capsules, edibles, topicals and tinctures. Of the five, edibles take the lead – especially in the form of gummies, which presently hold the largest total market share.
This is followed by tinctures, sublinguals and topicals; all of which amount to millions within Washington and Colorado. Besides the more popular mediums of delivery, capsules and beverages have seen maintained growth. The reason beverages may be doing well, as reported by the news outlet, rests in consumers yearn to rid their alcohol consumption habits.
When comparing the sales between CBD and THC goods, its “non-inhalable” CBD products that paves the path within the cannabis market, as it grew by roughly 60 percent compared to THC’s mere 10 percent.
Finally, the report shared specs of the prices consumers can expect. The relationship between CBD concentration and price supposedly rise together for products containing up to and excluding 500 mg of CBD per package with $0.08/mg. However, any concentration above 500 mg will gradually increase, with $0.02/mg.