Industry News

Concentrates on Track to Outsell Flower by 2023

Written by Asia Mayfield

The urge for cannabis concentrates shows no sign of abating. Some analysts predict concentrates will outsell flower by 2023.

Legalization has created a swath of new options for consumers. Do-It-Yourself concentrates are often inconsistent and expensive. Technically, you can make products like butane hash oil at home, but it is seriously dangerous, and the process benefits from being performed in a lab by experienced technicians. It’s not unusual to find concentrates reporting 95% or higher THC content levels, or others meticulously designed to impart a specific physiological effect.

As well as delivering a potent dose of cannabinoids, concentrates are more discreet. In social situations, it’s impossible to smoke a joint in private. Everyone in your vicinity can catch a whiff of what you’re doing. You can puff your vape pen, however, in the middle of a busy street. It’s very difficult to tell the difference between a vape pen with a cannabis oil cartridge and one with nicotine oil.

Concentrates are incredibly versatile. They can be vaped, eaten, and applied topically. There are even concentrates designed to appeal to today’s health-conscious crowd. High-THC extracts are, perhaps, the most popular, but CBD products are quickly eating into the market.  CBD oil is being talked about like it’s aspirin. Everyone from professional athletes to stay-at-home moms are touting its benefits.

Manufacturers love concentrates as well. An article in the The Motley Fool: “The second reason derivative products are such a big deal is that they offer considerably better margins than dried flower. Whereas dried flower has shown a penchant for oversupply and commoditization in more established U.S. markets…derivatives, such as oils… aren’t facing oversupply or pricing pressures.”

Major industry players are diversifying their range by offering vape pens, oils, etc. As cannabis concentrates continue to reach more consumers, either due to their more discreet nature, higher potencies, or a manufacturer’s ability to design products with specific therapeutic intentions, their market surge shows no signs of slowing.

 Image source: Cannabis Info

About the author

Asia Mayfield

Asia Mayfield is a freelance writer who focuses on the cannabis industry. She can be reached at [email protected]