The cannabis business is on fire lately, and one area in the space could have serious potential to heat up: edibles.
According to new research by Arcview Market Research, spending on edibles in the U.S. alone topped $1 billion last year. With just days left before Canada legalizes the recreational use of marijuana, Arcview estimates that number could reach $4.1 billion by 2022 for the two nations.
“The edibles market is up for grabs. We’re already seeing mainstream beverage companies scrambling to take advantage of part of this significant opportunity,” the report stated.