MMM…GUMMIES
Consumers love cannabis gummies—especially new ones
Cannabis-infused gummies are still the most popular edible product in the game, according to Headset’s latest report, reaching almost $1 billion in sales and 70% of the US edibles market last year, reports MJBizDaily.
The data
- The report tracked data from California, Colorado, Nevada, Oregon and Washington state
- Overall edibles sales grew by more than 20% in 2021 to $1.38 billion
- Cannabis sales overall grew by 18.4%
- All other edibles segments declined except for infused caramels, chews and taffy—which grew even faster than gummies
The takeaway
Gummies are especially popular among new consumers. “They’re easier to use,” said Derek Lilley, head of merchandising at Chicago-based MSO Cresco Labs. “And some consumers don’t like smoking – full stop.”
Note: Headset is the Official Insights Partner of Business of Cannabis. Learn more.
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HEMP ➡️ CANNABIS
New York approves plan to accelerate cannabis cultivation
A bill that would give New York state hemp growers adult-use cannabis cultivation licenses passed in both the Senate and Assembly, and is now headed to Gov. Kathy Hochul’s desk for final approval, reports Spectrum News 1.
It’s a big step in creating the framework for cultivation licensing in the state ahead of adult-use sales, which are coming in 2023 at the earliest.
“With the passage of this bill, we have the opportunity to create a responsible start to the adult-use cannabis industry by authorizing temporary conditional cultivator and processor licenses to current New York hemp farmers,” said Assembly Majority Leader Crystal Peoples-Stokes. “This authority will help secure enough safe, regulated, and environmentally conscious cannabis products to meet the demand of the adult-use cannabis market when retail dispensaries open.”
REMORSE OF COURSE
Ascend Wellness accuses MedMen of having ‘seller’s remorse’ in court filings
New York’s Ascend Wellness has filed two new claims requesting MedMen’s counterclaims be dismissed, reports The Deep Dive. The initial lawsuit says MedMen breached their contract when they terminated a deal to sell their New York license to Ascend for $73 million.
According to the new documents, MedMen reneged on their deal after already accepting $8.5 million from the company through a rough patch to cover operating costs and pay debts. They call MedMen’s counterclaims, which accuse Ascend of donating to incoming Gov. Kathy Hochul’s fundraiser to accelerate the approval of the acquisition deal before its expiration date, “nothing more than seller’s remorse.” Hochul’s office denies any kind of agreement or meeting occurred with Ascend.
“Relying on nothing more than two false allegations in an attempt to plead its infirm counterclaims, MedMen has knowingly fabricated a narrative,” read the new filings.
