Though the marketplace for legal cannabis in the United States is a mere five years old, the sector is growing and evolving at a rapid clip. Currently valued at about $15.3 billion, BDS Analytics projects the legal cannabis category will see a 25% CAGR over the next four years, with a $29.5 billion valuation by 2022. Comparatively, cannabis beverages are only a sliver of that pie, projected to be worth $1 billion in 2022.
With much of the cannabis space still in constant flux, BDS Analytics VP of consumer insights Jessica Lukas closed out the second day of BevNET Live Summer 2019, held June 13 in New York City, by breaking down the state of the market for both THC and CBD beverages and offering her predictions for what the next five years of cannabis drinks look like. In her presentation, Lukas discusses how edibles have taken significant market share from flower, how consumers think about dosing, and how CBD drinks are poised to breach the mainstream through conventional channels.