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The overall cannabis market across legalized U.S. state markets is valued at $25 billion, with 40% sales growth for 2021. Cannabis-infused foods and beverages have also seen strong growth.
As numbers show that U.S. consumers are ready for cannabis, and initial FDA-requested testing regarding cannabidiol safety isn't raising any red flags, CBD product developers should be ready to compete in this growing market.
Sales for all regulated cannabis products are expected to top $27.1 billion in 2021, up around 25 percent from 2020, according to Kelly Nielsen, vice president of insights and analytics, BDSA.
Rebecca Maestas, brand development manager for LivWell Enlightened Health, presented her expertise in understanding customer needs — for both the business-to-business and business-to-consumer channels — during Cannabis Products Exchange, hosted virtually April 27-28.
Mile High Labs has launched the Mile High Innovation Lab, a product development platform built to support brands in developing, launching and scaling new products in the health and wellness industry.
Chris Walsh, president and CEO, Marijuana Business Daily, discussed the transformation of the U.S. cannabis market during Cannabis Products Exchange, held virtually April 27-28.