Market research firm BDSA reported edibles brought in nearly $2.75 billion, up about $105 million from 2021.

Several newer markets saw strong expansion in 2022, and growth in new and emerging markets is expected to ramp up in the coming years.

Using Menu Analytics, cannabis retailers and investors can gain insight into the menu-listed pricing and availability of brands and products at a local and store-specific level.

BDSA said the New York market is expected to benefit from cross-border buying as adult-use consumers from southern Connecticut and northern Pennsylvania look for more convenient buying opportunities.

Maryland voted in November to legalize possession of up to 1.5 oz. of cannabis for recreational use, as well as owning and maintaining up to two plants out of public view.

Cannabis Products recently spoke to Brendan Mitchel-Chesebro, analyst, BDSA, about recent market conditions and expectations for 2023.

Despite an inflationary environment and recession concerns that dampened consumer spending, legal cannabis sales in the U.S. will reach $27 billion by the end of 2022, a jump of 7% over 2021 sales.

The company’s Retail Sales Tracking solution is based on sales data from its cannabis retail partners across the U.S.

Emerging markets are expected to be a major driver of sales through 2026, as the number of non-legal states rapidly dwindles.