ONGOING ACTIVITY
Every year, consumer-backed, state-led legislation progressively opens new markets for cannabis industry growth. As of early 2022, 23 U.S. states have new or expanded cannabis legislation under consideration.“Speaking to legal cannabis markets only (regulated, dispensary channel), continuing opening of markets at the state level and the eventual federal level will continue to have the greatest impact on cannabis market performance,” says Lukas. “As more markets legalize, availability increases, and the numbers of people who consume grows. So with that, demand for ingestibles will rise, too. Federal reforms such as the SAFE Banking Act, STATES Act, and others are also likely to improve the performance of legal cannabis markets, making it easier to operate within and across state borders.”But remember that innovation is another path forward to grow infused foods, advises Lukas. “Inhalables are still king, so infused edibles that mimic the fast-acting effects (onset and offset) of inhalables are likely to attract a broader section of the consumer base and increase overall edible sales,” she says. “Further, innovations focused on catered experiences continue to drive category growth, with fast-acting, minor cannabinoids, solventless, terpenes, and beyond offering opportunities for brands and retailers.”