- The report explores the growth, competition, and consumer trends, for lesser known cannabinoids
- The report highlights a 5.4% revenue increase in the edible market for 2023, with total sales reaching $2.097 billion
- As consumer preferences shift towards edibles for their therapeutic effects and consistent experiences, the industry product landscape is set to evolve
With the increasing acceptance of cannabis use in society, the popularity of edibles—products containing cannabinoids that can be consumed as food or drink—has surged. While many consumers are familiar with edibles containing THC (tetrahydrocannabinol), known for its euphoric effects, or CBD (cannabidiol), recognized for its therapeutic benefits, there is a growing interest in edibles infused with non-intoxicating minor cannabinoids. These lesser-known cannabinoids offer unique properties and potential health benefits, driving significant market growth.
BayMedica, a subsidiary of InMed Pharmaceuticals (NASDAQ: INM), specializes in rare cannabinoids, and has published a report on the expansion of the minor cannabinoid market in 2023. Link to a full copy of…
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