In 2019, retail sales of cannabis products were expected to reach $14.4 billion, up 24% from 2018 levels. Of the major markets for cannabis (which includes marijuana and hemp), smokable and vaporizable products will remain the leading outlet, accounting for 64% of retail sales in 2019. Demand for these products is supported by expanding legalization of adult-use marijuana across the U.S. However, demand is restrained by restrictions in a number of states limiting the sale of inhalable cannabis-infused products, as well as by rising concerns about vaping and its connection to lung illnesses.

Health products (e.g., capsules, supplements, tinctures) account for the second largest share of retail sales, supported by consumers’ increasing familiarity with and trust in THC- and CBD-infused products for their purported health benefits. Among the fastest growing markets are food, beverages, cosmetics, and toiletries, as legalization of hemp has promoted the inclusion of CBD in these items. Pet products—while remaining a niche market for CBD—are also seeing rapid expansion as consumers turn to CBD to help relieve symptoms such as anxiety and pain in their pets.

The fastest annual gains are projected for those delivery formats—namely edibles and topicals—that stand to benefit the most from federal legalization of hemp-based CBD. Major retailers—including foodservice establishments in certain states—are increasingly offering CBD-infused food, beverages, cosmetics, and toiletries that appeal to consumers because these products have the therapeutic benefits of CBD without the psychological effects of THC.

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Table Of Contents

  • Executive Summary
    • Report Scope
    • Report Summary
      • Market Size
      • Regulatory Landscape
      • Market Trends by State
      • Cannabis and CBD Food and Beverage Trends
      • Cannabis and CBD Retailers
      • Use Trends
  • Market Size
    • Sales of Retail Products Containing Cannabis
    • Cannabis Sales by Delivery Format
      • Flower
      • Vaporizer Cartridges
      • Tinctures
      • Edibles
      • Pills & Capsules
      • Topicals
      • Ingestible Oils
      • Other Delivery Formats
  • Regulatory Landscape
    • National Legal Overview
    • Industrial Hemp
      • 2018 Farm Bill Legalizes Hemp
      • Farm Bill Builds on 2014 Iteration
      • CPG Applications
      • Industrial Hemp Activity by State
    • State-Level Cannabidiol (CBD) Product Laws
      • A Trend Toward Limits
    • Medical Marijuana
      • Medical Marijuana: Access
      • Medical Marijuana: Possession & Use
      • Medical Marijuana: Production
      • Medical Marijuana: Sale
    • Recreational Marijuana
      • Recreational Marijuana: Access
      • Adult-Use Marijuana: Possession & Use
      • Adult-Use Marijuana: Production
      • Adult-Use Marijuana: Sale
    • Regulation in the Pipeline
      • SAFE Banking Act
      • STATES Act
      • MORE Act
  • Market Trends by State
    • Arizona
    • California
      • Setting the Table for Success
      • Disappointing Results
    • Colorado
      • Table Colorado Adult-Use and Medical Cannabis Sales, 2014-2019E (million dollars)
    • Connecticut
    • Florida
      • Table Florida Dispensary Locations, by Company, 2020
    • Illinois
    • Maryland
    • Massachusetts
    • Michigan
    • Nevada
    • New Jersey
    • New York
    • Nevada
    • Oregon
    • Pennsylvania
  • Cannabis and CBD Food & Beverage Trends
    • Food & Beverage Applications Increasingly Common
      • Table CBD-Legal States: Labeling and Registration Restrictions, 2019
      • Table CBD-Legal States: Food and/or Beverage Restrictions, 2019
      • Table States Where CBD Is Heavily Restricted, Illegal, or Unknown, 2019
    • Canada CBD-Infused Beverage Product Innovation
    • Tilray and AB InBev
      • Everie Non-Alcoholic CBD-Infused Beverages
      • Future Product Development
    • HEXO and Molson Coors
      • Truss
    • Canopy Growth and Constellation Brands
      • The Constellation Angle
      • Gearing up for Launch
    • U.S. CBD-Infused Food and Beverage: Store Visit and Tasting Notes
      • Store Visits Reveal Innovation Afoot
      • Lifeway Kefir Shop: CBD Smoothie Boosts
      • Ruby Room: CBD Foods and Dog Treats
      • Goddess and the Grocer: Owned-Branded Baked Goods Fit into Broader Brand Mix
  • Cannabis and CBD Retailers
    • Multi-State Operators
      • Multi-State Operators and the Cannabis Supply Chain
    • MSO Footprint: Nascent Growth
      • Table Active Cannabis Dispensary Locations: Top MSOs, 2019
    • Acreage Holdings, Inc.
      • Geographical Footprint
      • Recent Acquisitions
      • Branded Products Strategy
      • Innovation: Quick-Dissolve Cannabis Tablets and Wellness Beverages
    • Charlotte's Web Holdings, Inc.
      • Retail Expansion
      • Product Line Expansion
      • Pet Products
      • Marketing Campaign
    • Cresco Labs
      • Cresco Labs
      • Retail Branding Strategy
      • Sunnyside
      • Sunnyside: Illinois Retail Snapshot and Store Visit
      • Branded Product Strategy
      • Cresco Family of Brands
    • Curaleaf Holdings, Inc.
      • Competitive Strategy
      • Geographical Footprint
      • Recent Acquisitions
      • Retail Branding Strategy
      • Branded Product Strategy
    • Harvest Health and Recreation
      • Geographical Footprint
      • Recent Acquisitions
      • Branded Products Strategy
    • Green Thumb Industries Inc.
      • Geographical Footprint
      • Recent Acquisitions
      • Branded Products Strategy
    • iAnthus
      • Geographical Footprint
      • Recent Acquisitions
      • Branded Retailer Strategy
      • Branded Product Strategy
    • MedMen
      • Geographical Footprint
      • Recent Acquisitions
      • Branded Retail Strategy
      • Branded Product Strategy
      • Loyalty Program
    • Trulieve
      • Entering New Markets
      • Florida Remains Lynchpin
      • Products
  • Use Trends
    • Attitudes Toward Legalization
      • Two-Thirds of U.S. Adults Say Marijuana Use Should Be Legal
    • Use by State
      • Table Top 20 States: Percentage of Adults Using Cannabis in Last Year and Last Month, 2018
      • Table Top 20 States: Numbers of Adults Using Cannabis in Last Year and Last Month, 2018
  • Appendix
    • Cannabis Applications
      • Medical Marijuana
      • Adult-Use/Recreational
      • CBD & Other Hemp-Derived Products
    • Definitions
      • Cannabis
      • Cannabidiol (CBD)
      • Cannabis Product Delivery Formats
      • Hemp
      • Hydroponics
      • Marijuana
      • Multi-State Operator (MSO)
      • Tetrahydrocannabinol (THC)
      • Vertical Integration