Share of Beverages in the American Market for Cannabinoid Food Products
Three-quarters (75%) of cannabinoid food product consumers reported having consumed gummy candies containing therapeutically active hemp components in the past six months, compared to 8% who reported using cannabinoid non-alcoholic beverages (teas, carbonated cannabinoid drinks, etc.) over the same period.
In anticipation of the “launch” of the cannabinoid food products market in our country, the editorial team of a specialized electronic publication for national hemp growers asked experts from the information and analytical platform “Hemp Consulting” to assess the prospects for developing various segments of the new niche of hemp nutraceuticals opening in Ukraine. As usual, the provided information is published without any changes or omissions.
In all countries with a legal cannabinoid product market, about half of the market is occupied by sales of leaves and flowers of therapeutically active hemp, as consumers obtain the best price/quality ratio by purchasing this product. After obtaining therapeutically active raw materials, the buyer decides whether to use it as an ingredient in soups or salads, infuse it with food-grade alcohol to use as a low-alcohol/alcoholic beverage, brew cannabinoid tea, etc. Another half of the market is made up of high-added-value products, where either cannabinoid leaves and flowers or their extracted derivatives from therapeutically active raw materials are used.
It is in this high-added-value niche of cannabinoid food products that various deviations are observed in different countries around the world. Since there is currently no such sales statistics available in Ukraine, we can use the information provided by our colleagues from “BDSA Consumer Insights” (BDSA), specializing in data collection and analysis of various segments of the U.S. hemp market. According to their data, from Q1 2022 to Q1 2024, sales of beverages containing phytocannabinoids grew more slowly than the overall category of cannabinoid edibles.
In the tracked markets of various administrative-territorial units of the country, the total retail sales of beverages containing therapeutically active substances extracted from hemp plants amounted to approximately $50 million in Q1 2024. According to BDSA, this accounts for about 6% of the total sales of edible cannabinoid products and 1% of the total sales of therapeutically active hemp in the U.S.
Despite the fact that in recent years the variety of brands of beverages made from the therapeutically active properties of hemp has significantly expanded, according to BDSA, cannabinoid gummy candies continue to make up the lion’s share of sales of food products with significant therapeutic potential and are the most consumed type of cannabinoid food products. In particular, surveys found that three-quarters (75%) of cannabinoid food product consumers reported having consumed gummy candies containing therapeutically active hemp components in the past six months, compared to 8% who reported using cannabinoid non-alcoholic beverages (teas, carbonated cannabinoid drinks, etc.) over the same period.
