MJBizMag November-December 2022 - 78

Flying Off the Shelves
Cannabinoid Growth
The use of minor cannabinoids in cannabis products sold by
retailers continues to grow. Companies in many markets are
including CBD, CBN and CBG in their products.
Market share in edibles category
Products containing minor cannabinoids are taking more
and more market share in the marijuana edibles category.
States: CA, CO, MA, MI, NV, OR, WA
CBD
Market
share
Percent
Wana is the No. 1 edibles brand in
Colorado and Michigan. Courtesy Photo
The edibles category is less developed
than other marijuana retail segments
such as flower, and therefore it remains
dominated by a handful of players.
A TALE OF TWO GUMMIES
Two of the biggest names in gummies
are Oregon-based Wyld and Coloradobased
Wana. Wyld is among the topfive
sellers in all regulated marijuana
markets covered by Headset, and
it is No. 1 in Nevada, Oregon and
Washington state, while Wana holds the
top spot in Colorado and Michigan.
" Wyld is certainly a fierce
competitor, and there are a number of
good brands out there. For established
brands like Wana, there's enough brand
loyalty and recognition ... that we're
not only able to maintain but also grow
in the markets that we're present in, "
Hodas said.
" That said, Wyld has a different
marketing approach to their brand.
So, there will be a little bit of that Coke
and Pepsi (dynamic), where people
will prefer one over the other, " he
added.
Wyld CEO Aaron Morris told MJBiz's
" Seed to CEO " podcast that he prefers
to not get caught up in rivalries.
change
from 2021
CBN
28.8% 10.4%
10%
32%
CBG
2.7%
125%
Sales of edibles containing cannabinoids
The use of CBD in marijuana products has blazed a path
for the acceptance of CBN and CBG.
$40M
$30M
CBD
$20M
CBN
$10M
CBG
JFMAMJJASONDJFMAMJJASOND JFMAMJJASONDJFMAMJJA
2019
2020
2021
2022
Source: Headset
$3.6M
$12.9M
August 2022
$34.6M
" We focus on us. I think the world
wants to pit Wyld, Kiva and Wana
against each other. The businesses
are operated and built for completely
different angles. Wana already
sold, " Morris said, referring to the
$300 million cash offer Canada's
Canopy Growth Corp. made to buy
76 November-December 2022 | MJBizMagazine
the company in the event of federal
legalization in the U.S. " I think the core
differences in our strategy and how we
operate is our long game. We're looking
at buying, not selling. "
Morris added: " We want to be the
brand that sits in the middle. We don't
want to be too niche. "

MJBizMag November-December 2022

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