Boulder, Colo.-based BDSA announced an update of its cannabis market forecast, a five-year rolling global forecast by country, state, province, channel and category. Cannabis sales for 2021 will near $31 billion, an increase of 41% more than 2020 sales. Further, BDSA forecasts global cannabis sales to grow from $30.6 billion in 2021 to $62.1 billion in 2026, a compound annual growth rate (CAGR) of more than 15%.
Some 50 years removed from the Hippie Movement of the ‘60s and ’70s, medical and recreational marijuana, pain-relieving edibles like gummies and tinctures are being used by a diverse consumer base in a growing $30 billion cannabis market.
ALT (Advanced Liquid Technology) launched an adaptable liquid cannabis beverage enhancement that can be added to any drink for a customizable experience, it says.
Despite regulatory challenges, the use of THC in beverages is seeing a slight uptick. Nielsen suggests that consumers often turn to marijuana products because it doesn’t cause a hangover and is low- or zero-calorie.
New line of flavors mimics cannabis essence without THC, CBD
June 9, 2020
Bell Flavors & Fragrances released a full line of cannabis-inspired and terpene flavors and fragrances designed to recreate the flavor and aroma of familiar terpenes, such as linalool and limonene, as well as well as popular cannabis strains like blackberry kush, blue dream and pineapple express.
In 2019, sales of legal cannabinoid-containing products in the U.S. generated between $12-$13 billion; however, cannabis-infused beverage account for between 1.5 and 3 percent of the greater cannabis market. Although still a small portion, analysts see potential for growth of this category should legal restrictions change.
Outbound Brewing has released a new non-alcohol product line that includes small-batch traditional non-alcohol brews, CBD-infused (20 mg broad spectrum hemp), and cannabis-infused (10 mg THC) options, with just 30 calories in each bottle.