As we kick off the new year, we are assessing up-and-coming trends in the industry. Along with expanding legalizations and craft cannabis, considerable focus is going into infused cannabis products, including the use of CBD.
Some infused products going into this realm might surprise you. In the cannabis manufacturing sector, it’s good news in the way of innovation since demand is high, so to speak.
Recent statistics show exponential growth in this particular cannabis industry, something worth looking at a little more in detail.
What Kind of Growth Will Cannabis-Infused Products Have?
According to financial forecasts, the cannabis-infused product market will become a $25 billion market by 2027. While this estimate looks out seven years, one can easily see things are going to evolve quickly with cannabis products throughout the 2020s.
Part of this evolution is the expanding legalizations. However, there is a more present challenge regarding the appropriate route of administration for cannabis products. Not everyone can smoke it due to other underlying health problems.
Infused products are now the game-changer in ingesting cannabis, with a focus on edibles and now beverages. It also extends into things like CBD oil extract. The use of this in further products is becoming very much in demand for cannabis manufacturers.
For those who can’t take too much THC, CBD is becoming a stronger market for infused products. People can reap the benefits of cannabis without worrying about the THC effects when above 0.3 percent.
What is the Latest in Cannabis-Infused Edibles?
The cannabis edibles market is nothing new and already strong. However, new products keep entering the marketplace every year. First waves offered chocolates and gummies. Nowadays, you can find some interesting variations.
One of the most popular right now is infusing CBD and THC into cookies. Miniature sandwich cookies are one bestselling option this year. Joining this are more variations on gummies, including many with real fruit flavors for added taste.
Another major option is the advent of cannabis drops, proving any kind of candy can be made now and infused with some level of THC. Not that the cookie market is stuck in one specific niche. Cannabis-infused macarons have also hit shelves, giving more variety, not including aesthetically pleasing concoctions to offer as gifts.
What About Cannabis-Infused Beverages?
We’ve written about cannabis beverages over the last year or two. Now it’s growing further, albeit with specific brands dominating this category. CBD-infused seltzers are the most significant now, with many brands trying to mimic the popularity of White Claw.
Despite these cannabis-infused drinks making up only 1% of all cannabis product sales, brands like Creative Waters, Sprig, Mountainjoy Sparkling, DRAM Rose, and Queen City Hemp are all entering this arena.
Maybe some of these beverages are trying too hard to be like another White Claw. Distinguishing themselves from all the rest is sure to become the biggest marketing challenge.
How Big is CBD Extract Oil?
No doubt about it that the CBD industry is going strong, with CBD extract oil being significant in infused products. Finding CBD oil in products seems to be growing more than those with THC.
There also seems to be more diversity in the type of products using CBD. Many of the typical products found above are available, yet items like salves, skin creams, beer, and bottled water stand out from the usual.
Even coffee is a newer entry in the infused cannabis brands market. Perhaps one might wonder what kind of response that brings mixing Cannabidiol with caffeine. Products like this prove there’s a market for everything in cannabis, giving manufacturers assurance they’ll be busy for years to come.
To learn more about the latest cannabis trends, contact us at MaxQ Technologies, Inc.