Cannabis sales in 2021 & beyond...

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Written By: Jefferson

Cannabis may be the most versatile plant on earth. From its ability to produce green alternatives like hemp, to its lifesaving effects on our endocannabinoid system we have yet to discover its full potential in shaping our future. The versatility of the plant is also true for the range of ways cannabis users choose to consume it.. With so many choices available on the market for new cannabis users as well as investors the marijuana landscape can seem quite daunting, consider this your guide to how America consumes our favorite plant.

The cannabis market can be broken up into four main categories. Flower, concentrates, edibles, and topicals take up most of the market share while accessories and products for animals take up the remainder of the nearly 25 billion dollars made in 2021 alone. For investors looking to break into an already oversaturated market, choosing which products will stand out, or become profitable can mean the difference between owning a yacht, or drowning in debt.

FLOWER

In 2021, dried cannabis flower and pre-rolls in the U.S. accounted for more than half of all transactions. The easiest and most widely used way to consume cannabis offers the most versatile of experiences with effects felt almost immediately and lasting somewhere between 2-5 hours. With newly legal states currently deciding on regulations and legislature, we may see a slight change in sales figures in the coming years.

VAPE CARTS AND CONCENTRATES

Concentrates are extremely potent and derived from the cannabis plant itself. By using either heat, pressure, or solvents the THC is extracted from the plant along with terpenes and other organic compounds, and used in a variety of cannabis products including vaporized cartridges and resin. Because of the multiple uses and the wide variety of products available on the market today, concentrates were responsible for an estimated 5.1 billion dollars in revenue last year. For companies that grow their own flowers, diversifying your product portfolio to include these products can be a very profitable way to minimize waste and maximize sales.

EDIBLES

Cannabis infused foods and drinks claimed just under 10% of the profit share in 2021 with a record profit of 2.3 billion. Infused products metabolize in your liver quickly and its effects can be delayed up to two hours while lasting upwards of six. Liquid edibles, such as sodas and syrups proved to be the most sought after forms of edibles with sales topping 367 million in revenue. These numbers will continue to rise with sales figures expected to top 8 billion by 2027. With less strain on users lungs, easy conceivability, and longer-lasting effects investors can expect that the popularity of edibles won’t be fading anytime soon.

TOPICALS

While cannabis beverages are preparing for the inevitable corporate takeover of their industry cannabis infused topicals and beauty products have already felt the heat. With CBD products being used to sell everything from lotions to wrinkle cream and sunblock, the average non-cannabis smoker still has plenty of opportunities to purchase cannabis and hemp derived products. Hemp based topicals aimed towards women and pets accounted for almost 2.4 billion in sales last year alone due in part to its non-psychoactive effects and wide availability to niche markets.

Cannabis sales are affected seasonally as well with the highest earnings reported during the summertime months. When the temperature climbs, sales of dried flowers follow suit due to being used primarily outside at events and gatherings. During the colder winter months sales of edibles and concentrates slowly rise while topicals see similar sales year-round.