Consumer Trends Shift the Cannabis Market Spotlight on Extracts
As the cannabis industry continues to mature, consumers are beginning to demand fresh, new products. Traditionally, most consumers smoked cannabis via joints or other paraphernalia. Now, while it still is the most popular method, the number of users simply smoking cannabis is quickly diminishing. Each year, reports have shown that more users are beginning to use cannabis alternative products such as edibles, concentrates, and extracts. The concentrates and extracts markets are gaining traction particularly quickly. For instance, when Colorado began its legal adult-use cannabis sales, flower dominated the marketplace. By the end of the first year, flower accounted for 67% of Colorado's overall cannabis sales, according to BDS Analytics. However, four years later, flower sales plummeted and have accounted for just 44% of total sales. During the same time span, the concentrates market closed the gap as its market share increased from 15% to 31%. Similarly, California witnessed its flower sales falter during the first four months of adult-use sales. California's flower sales fell from 43% in the beginning to 40%, while concentrates narrowly rose from 30% to 31%. Just like every other global industry, consumer trends change each year and people begin to demand for innovative products. Consumers within the cannabis market are now demanding more potent and cleaner alternatives to smoking the plant. Furthermore, according to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. AREV Brands International Ltd. (CSE: AREV), Auxly Cannabis Group Inc. , Liberty Health Sciences Inc (CSE: LHS), Nightfood Holdings, Inc. , United Cannabis Corporation
Liberty Health Sciences Continues To Expand Its Line Of Top Brands; Introducing Papa's Herb™ï and Lemon and Grass
Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, today announced that it is continuing to expand its product offerings by introducing two additional top brands: Papa's Herb(TM)ï (www.papasherb.com) and Lemon and Grass, subject to Florida Department of Health approval.
Liberty Health Sciences To Introduce Zentient As New House Brand Along With All-Natural Line of Pretty Pistil Products
Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, today announced that it will be introducing Zentient to all of its dispensaries as its new house brand of products along with a Pretty Pistil, subject to the Florida Department of Health approval. Pretty Pistil will be replacing all of Liberty's Solei branded products.