A brief trip down edible alley reveals the enormous transformation that the infused edible product industry has undergone. Modern day cannabis edibles have stepped out of the shadows of the home kitchen while stepping into the light of regulation. The recent implementation of Prop 64 legalized recreational marijuana in the state, becoming the impetus for cannabis infused edibles manufacturers to produce a precisely dosed, lab tested, compliant product.
Cannabis Infused Edibles are Profitable in the Future
According to Arcview Market Research 10% of the state’s 2017 cannabis sales were from cannabis infused products, totaling $180 million. Dispensaries are reporting that between 25%-60% of their profits come from the sale of cannabis infused edibles. This supports the idea that cannabis infused edibles will continue to offer something for everyone. Furthermore, the appeal to non smokers captures that market securing a healthy slice of a 7 billion dollar a year industry in California.
In addition to a thriving financial outlook for the future of cannabis infused edibles, there’s also uncertainty. Companies are focussing efforts on customer experience because it will help them to create transparency and connect with the cannabis connoisseur in this highly competitive market. An example of this is Dandelion in San Francisco that has an open kitchen to allow customers to watch the chocolate making process.
Purity is at the Forefront of Innovation
As the industry evolves, one constant has remained, the purity process. The extraction process used to isolate THC is the focus of much of the scientific process and progress for many cannabis infused edibles manufacturers. Different schools of thought regarding the extraction process circulate with one main goal, removal of pesticides and toxins from the raw material prior to processing. Therefore, extraction technology is at the forefront of innovation and the future of cannabis infused edibles.
The future of cannabis infused edibles involves an entire team of Ph.D. level scientists and a high tech laboratory. Therefore, it is a stark contrast to the industries home baked roots. As brands adjust their business models to comply with the new regulations and standards, consumers adjust their expectations as well. Cannabis infused edible products will be competing on many different levels for shelf space moving forward. Buyers will be considering taste, reliable dosing, purity of product, and brand recognition. Premier brands such as Dr Raw Organics that have invested in extraction science will rise to the top of this young industry because they have made quality and compliance their priority.