Month: June 2023

Despite the somewhat tumultuous industry, one thing remains consistent across cannabis markets – the sales of California cannabis gummies, and edibles in general. The product category continues to grow in sales as displayed by recent data from New Frontier Data. 

National edibles sales have increased steadily over the years, up 31% from $2.2 billion in 2020, to $2.9 billion in 2021, and another 18% to $3.4 billion in 2022.But amidst this growing product category is its very own group of rising trends. Including trends that not only target specific diets or lifestyles (think vegan, or sugar free) but effect onset times, and beyond. 

So, if you’re an edibles company, an already licensed brand looking to differentiate or increase sales, or an aspiring cannapreneur – what are the trends you should be targeting? Keep reading to learn more, and find out how white label cannabis edibles and private label cannabis edibles can increase your profit margins, overall. 

2022 Cannabis Edible Sales Growth 

Another leading market researcher BDSA, recently dove even deeper into the edible sales category to distinguish distinct trends. From that data, the following was found from 2022 sales- 

• Candy was the biggest edible subcategory accounting for 73% sales 
• Chocolate followed with 9% of sales
• Beverages and capsules were tied at 7%
• Infused foods accounted for 4% of sales, while “other edibles” accounted for less than 1%

Even more than just individual product trends, for current and future California edibles brands it’s also important to understand the demographics feeding into these trends. The New Frontier Data also gave us insights into who’s buying California cannabis gummies and other edibles too. Those stats included the following information –  

• Women accounted for the majority of the demographic at 57.63%
• Men accounted for 42.37% of sales 
• The majority of edible consumers were between the ages of 35-54
• Following were the ages of 18-34 at 28.68% with consumers 55+ accounting for 27%

So now that you know more about the growth of the edibles category overall, and the demographics driving that growth, let’s get into the emerging trends that are ripe for capitalizing on. 

You could say, certain concentrates are heating up in popularity like the heat it takes to consume them (up to 600℉ for some dabbers!). In 2022, according to Headset data, concentrates and vape pens accounted for over 30% of total sales in comparison to edibles, flowers, and pre-roll categories. 

Even more, live resin and rosin products accounted for 46% of the concentrate segments market share. 

So if you’re in the cannabis industry, or looking for the most cost-effective and prosperous entry to market – concentrates could just be the category to enter (or expand into!). Here, let’s explore various types of wholesale concentrates California brands can white label or private label, and how My Green Network can help. 

How Concentrates Can Differ 

First and foremost – even as we see retail price drops across the board, due to the elevated nature of concentrates they continue to command a higher than average retail cost. That means, when keeping your manufacturing costs low and with current California concentrate prices, they often offer higher margins for manufacturers. 

As for differences between product to product, there’s a variety of concentrates you can produce or tap into for higher price points, or varying consumer types. Before we get into just how concentrates like shatter or rosin can vary, let’s talk on a broader scale of how concentrates differ from brand to brand or from one cannabis manufacturer in California manufacturer to another. 

• Extraction methods and capabilities – There are two main categories now emerging for extraction method types that consumers are seeking. Solventless, and non-solventless. Solventless is a part of the “clean weed” movement and offers the purest of extracts considering it uses no “solvent” like butane, or propane, to extract the plant’s precious oils – only ice water is used. As consumer desire for clean products continues to increase, so will sales of solventless cannabis. 
• Flower source and type – Your end result will only be as quality as what it begins with. So sourcing quality flower, even flower that’s specifically cultivated for high resin, or terpenes, is ideal for concentrate purposes. 
• Final consistency and quality – Again – not all flower, or processes will result in a premium final consistency or quality. So, when considering where to source California rosin be sure to check samples from the cannabis manufacturing companies you’re considering. 

So why does quality in concentrates matter especially from a brand perspective? Because don’t forget California concentrate prices are some of the highest on the shelves today. So, a consumer is expecting quality in return, or might not be a returning customer – or spread good word of mouth for positive promotion.