Cannabis edibles are positioned to become one of the most popular products in legal cannabis markets in the coming years. The sector of the market has already grown substantially in states that have allowed for these products.
Cannabis Edibles in Canada Could be a Year Away
Unfortunately, in Canada’s newly legalized market cannabis edibles are not allowed on the shelves. At least not yet. Regulators and officials in the country have one year to figure out how they will regulate edible cannabis products. In addition they must propose regulations for cannabis concentrates such as shatter. This also includes oil that is commonly used in cannabis vape pens. In the meantime, product manufacturers and entrepreneurs are rushing to figure out what cannabis edible products consumers will want most. However, at the same time, they are trying to be patient until they find out what products will be available when regulations are established.
Some Ganjapreneurs Just Can’t Wait
Some entrepreneurs in the sector, however, are already making moves. One example is Neil Marotta, the CEO of Indiva. Indiva recently entered into a licensing deal with Rudy Edibles which produces a variety of different cannabis-infused sugars and salts. It is products such as this that have the exponential potential for success. This is especially true seeing how many individuals who are curious about cannabis would never be caught smoking a joint. Like Neil’s grandmother though the thought of adding salt to food or sugar to a cup of coffee or tea with cannabis sparks a lot of curiosity.
22 Billion Could Come Sooner
For a market that could be worth more than $22 billion by 2020, it is products such as this that will be the fuel to take it there. With Canada expected to begin sales of cannabis edibles next year, it is likely that the market will see this number exceeded by the time 2020 rolls around.