04.03.20
U.S. retail sales of cannabis and CBD products reached $14 billion in 2019, and are on pace to increase 18% a year to $33 billion in 2024, according to data published in “Cannabis and CBD: U.S. Retail Market Trends and Opportunities,” a report by market research firm Packaged Facts.
Cannabis products can be segmented by delivery format—i.e., the method by which the product’s desired compounds are ingested. The most common delivery format, flower—smoked in the form of buds or pre-rolled cigarettes—accounts for nearly 40% of retail sales.
Another smokable product, vaporizer cartridges with concentrated THC or CBD compounds, comprises the second largest share. However, this share is declining as concerns about vaping-related lung illnesses rise and as states increasingly restrict sales of both nicotine- and cannabis-infused vaping products.
The fastest annual gains are projected for those delivery formats—namely edibles and topicals—that stand to benefit the most from the easing of federal restrictions on hemp and cannabis. Major retailers—including foodservice establishments
Cannabis products can be segmented by delivery format—i.e., the method by which the product’s desired compounds are ingested. The most common delivery format, flower—smoked in the form of buds or pre-rolled cigarettes—accounts for nearly 40% of retail sales.
Another smokable product, vaporizer cartridges with concentrated THC or CBD compounds, comprises the second largest share. However, this share is declining as concerns about vaping-related lung illnesses rise and as states increasingly restrict sales of both nicotine- and cannabis-infused vaping products.
The fastest annual gains are projected for those delivery formats—namely edibles and topicals—that stand to benefit the most from the easing of federal restrictions on hemp and cannabis. Major retailers—including foodservice establishments
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