Women Are the Main Buyers of Cannabis-Infused Beverages in the Industry Right Now
There has been an enormous shift regarding the way people feel about cannabis. This is a positive shift that has empowered the cannabis industry, such that experts and cannabis enthusiasts all around the world expect great returns from the market.
The industry is blossoming, but it hasn't risen to the heights some people might have expected, but this doesn't mean it will stay that way. The rise of cannabis would have been much better than it is right now if cities, states, and countries didn't have such stiff legal hurdles that restricted its usage and economic growth for so long.
The cannabis tracking firm referred to as "Headset" curated a report on the cannabis beverage industry which unveiled some key findings. The data reported show that in the U.S, the cannabis market had held a stable share, but it started to experience a decline in late 2019 and the early part of 2020. While the numbers are still pretty incredible they weren't quite as impressive.
Also, at the start of the COVID-19 pandemic the numbers weren't impressive (this was a general impact on almost all industries). The Coronavirus did changed many things for a lot of industries, so it is not shocking that cannabis also took a hit. However, at this low juncture a certain class of products started doing really well in the market. This group of cannabis products have been leading the charge on sales, overall revenue, projected growth, and so on. The group of cannabis products being referred to above are cannabis beverages. Ever since the pandemic began, they alongside other edibles have taken a huge leap in terms overall growth because of the peculiarities of the risk other methods of consumption imposes especially during a pandemic.
We all know cannabis beverages are killing it in the cannabis industry but do you know that survey shows that women are overwhelmingly the main buyers of this cannabis product?
Why are women overwhelmingly the primary buyers of this cannabis product? Let's find out!
The love and preference for cannabis beverages
Despite the statistics showing that COVID-19 negatively impacted cannabis, consumers are still enjoying cannabis beverages because we all love a good drink, and cannabis beverages are a lot safer than some of the other means of consumption.
The beverage sector of the cannabis market experienced a turnaround, and the firm Headset maintains that the products will get to an all-time high as COVID-19 restrictions are being relaxed.
The Headset report also indicates that more consumers are beginning to give the products a try, with more people tossing them in their bags. There is a higher number of cannabis beverage purchases from 1.6% in 2018 (January) to 2.8% in 2021 (February).
Cannabis beverages are steadily making their way into the market and topping the sales chart, which is an indication that more customers are enjoying and buying THC-infused drinks.
The report details that more than 20% of shopping carts are filled with only cannabis beverages, a significant improvement from 2018. In previous times, emphasis was on cannabis edibles and the plant itself, but this situation is gradually changing, and women are the ones propagating it.
It was discovered that women represent the highest number of cannabis beverage buyers. In fact, in every cannabis beverage category, women spent more money than men, making them the main customers for cannabis-infused beverages.
Interestingly, Headset also released data about doses which had two significant categories influencing purchases:
There is the low micro-dose dose
High maximum dose
Most of the increase in sales for the 10ml beverages comes from the 0-5mg "Micro-dose," which has also risen from 14.4% to 18% in sales. Thus far, in 2021, cannabis beverages with over 100mg (high maximum dose) account for 59.8% of the market share. Then products with less than 5mg were the second-largest category with 19.5% market share.
These numbers that reflect market shares, sales, and buyers' preferences are significant because they explain the rise in demand for cannabis-infused beverages. More importantly, these numbers are made possible by women who are beginning to prefer cannabis beverages to other types of drinks.
California cannabis beverages
Now the fact that women are buying these beverages doesn't mean it's women globally. It is interesting to note that most of the purchases from women regarding cannabis beverages are from California.
Now the state of California is the first state to legalize cannabis. Hence they have made tremendous progress in producing an array of cannabis products that are easily accessible. So women in California have more access to marijuana (plant and products) because of California's proactive integration of cannabis in their societies.
Increase in sales
In January, the California cannabis beverage sales skyrocketed at $15.5 million, which is up to six times greater than the $2.7 million in January 2018.
The increase in sales has also encouraged competition. Now, customers have multiple options to choose from at pocket friendly prices.
There are also many cannabis beverage success stories, such as Lagunitas Brewing Company Hi-Fi Hops that sells mainly products with 10mg of THC or less (this depends on a per-serving basis). Most of the products available cut across mocktails, flavored water, and affordable sodas infused with cannabis in 10mg and 100mg package sizes.
With these facts and figures regarding cannabis beverages, the alcohol industry is beginning to move towards cannabis infusion, making this an exciting time for marijuana enthusiasts.
Why women love cannabis-infused beverages
The availability of options makes them the most preferred option because some women prefer being spoilt for choice.
Cannabis-infused beverages taste amazing. These are drinks blended with a variety of beautiful flavors that creates a most pleasant taste. Some beverages have a combination of cannabis with mango, pineapple, blue raspberry, etc.
These beverages are also a great alternative to alcohol. Women love to unwind after a long day with a "Safe" drink they can enjoy without the alcoholic content. Cannabis beverages are produced to offer relaxation of the mind, so women do have a great time with them.
CBD drinks do not lead to psychoactive effects; they only help you unwind. THC does give psychoactive effects because of the psychoactive compounds it contains but not all cannabis drinks contain THC.
Bottom Line
Although cannabis beverages are still a tiny part of the marijuana market, it is a rapidly growing sector, and women are investing in it through their consistent purchases. Women are the dominant customers with lots of Gen-Xers, making the cannabis beverage industry enter into an era of incredible business boom for the beverage companies.
If you haven't enjoyed a cannabis-infused beverage, you've got to try one! You will be amazed at the swiftness with which you join the women propelling this cannabis product forward.
Cheers to cannabis beverages and their continuous growth in the industry, and cheers to the incredible women boosting the cannabis beverage sector!
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