Is the future of cannabis gummies fast-acting?

Despite representing a small slice of the overall cannabis market, fast-acting marijuana gummies are a powerful force, generating significantly higher sales per stock-keeping unit (SKU) compared to traditional edibles.This segment of the marijuana market is capturing consumer interest and commanding premium prices.

ADVERTISEMENT With a faster onset time, consumers aren’t trying to guess when they’ll feel the effects and are less likely to consume too much.Fast-acting products account for about $74 million, or 3%, of the $2.6 billion gummy market.

That’s according to an analysis by Colorado-based market intelligence firm BDSA that was commissioned by Azuca, a New York-based company that develops rapid-release solutions, emulsions, activators and other products for cannabis edibles and beverages.Although they make up a smaller portion of the market, fast-acting gummies significantly outperform traditional edibles, generating four to five times more sales per SKU.

“What the data confirms is that fast-acting is leading the conversation,” Corinne Butler, senior vice president of growth for Azuca, told MJBizDaily.“They’re priced higher, sell faster, get more shelf space and get repeat purchases.” Fast-acting gummies command premium price Consumers are willing to pay 31% more for fast-acting gummies, which get premium shelf space at high-volume marijuana retailers.

Fast-acting products generate about 50% of sales for the brands that have them in their portfolio, according to the BDSA study.“Fast-acting is … how you get placement and insulate yourself against price compression,” Butler said.

“This (study) is proving that premiumization has the best ROI (return on investment) potential.” Bryant Ison, vice president of marketing for Las Vegas-based Planet 13 Holdings, said he’s surprised the study found consumers are willing to pay a premium for fast-acting gummies.He hypothesized that i...