Edible Marijuana Sales Continue to Rise, With Gummies and Mints Topping Sales
On Wednesday, Feb. 22, Arcview Market Research released a statement about its research report showing the growth of cannabis edibles sales last year totaling at $6.9 billion, a 30 percent increase from 2015. According to the report, sales are projected to increase to $21.6 billion by 2021.
In 2016, gummies accounted for 26 percent of sales in the edible market, according to BDS Analytics. Americanna’s Sour Leaf Gummies topped sales in recreational marijuana shops in Colorado, selling 223,000 units. The product also ranked No. 1 in sales overall, accounting for $3.8 million in sales in terms of dollars for cannabis products sold at stores.
In Washington State, the industry saw a 121 percent increase in sales last year, according to data from Headset Inc., a cannabis analytics firm. Mr. Moxey’s Mints and Zoot's ZootRocks hard candies were among the top two sellers in the state.
Botanica, the producer of Mr. Moxey’s Mints, sold over $700,000 peppermint-flavored mints last year.
"Mints were very challenging to get right, which is why not many companies make them," Tim Moxey, Botanica's Chief Executive Officer, told Forbes.