Last year, cannabis-infused beverages have seen an uptick in sales of 40% amid the coronavirus pandemic.
“People are very mindful of the impact of alcohol on their health and their looks,” remarked Tracey Mason to Mjbizdaily. Mason is the co-founder and CEO of cannabis-infused, alcohol-free wine company House of Saka, based in California’s famed Napa Valley wine making region.
Data from Headset has revealed that sales of marijuana-infused beverages increased 40.3% last year versus 2019 across recreational markets in California, Colorado, Nevada, Oregon (medical and adult use) and Washington state.
Cannabis-infused beverage sales saw a jump from $67.8 million in 2019 to $95.2 million in 2020.
According to LeafLink, prices for marijuana beverages are trending down.
As of January 2021, the average wholesale price for cannabis-beverage products on LeafLink was $8.58 per single serving. This is down 1.1% from $8.67 in January 2020.
Throughout 2020, the wholesale price of infused beverages sold on LeafLink fluctuated from a a high of $8.75 in April to a low of $7.59 in June.
“A beverage is not something you have to smoke or light up,” said Lindsay Levin, chief marketing and sales officer for Fluresh in Michigan, speaking to MJbizdaily.
“Beverages are approachable,” he added.
Matt Melander, chief financial officer of Massachusetts’ Levia has said the familiarity of beverages can help bring new consumers to marijuana. “Everyone knows how to crack a can top,” he said.