Marijuana Edibles Industry Overview
The explosion of marijuana edibles to consume both medical and recreational marijuana created a brand new market offering a variety of baked goods, candies, desserts, cold beverages and frozen foods. The popular magazine “High Times” even has a unique cook book called “Official High Times Cannabis Cookbook”. This industry is poised to see significant growth as more and more states shift towards legalization.
There is plenty of money to be made which has been proven in legalized states like Colorado and Washington where many pot users turned to edibles because they don’t like to smoke or inhale marijuana any longer. Scientists proved the “high” effect lasts longer and can be stronger if its consumed opposed to inhaling it. Patients who are prescribed medical marijuana have also shifted to edibles for that reason alone.
The Keys to Success: Quality Testing and Regulations
Earlier this year a college student took his own life after consuming “too many” marijuana edibles. There are several other stories that raise concerns, however with any product in a brand new industry that alters your mindset such as alcohol and marijuana, regulations and guidelines are vital to its success.
Colorado’s Marijuana Enforcement Division (MED) provided a new set of rules in September 2014. The new proposed rules, almost 30 of them, are related to every aspect of the edible industry. Here are a few of those aspects:
- Start-up licensing fees
- Production caps on greenhouses or outdoor growing
- Responsible Vendor Training
- Product Testing
- Hand-washing requirement
- Single serving size does not have more than 10 milligrams of active THC
Colorado issued over 18,000 marijuana occupational licenses. With the new rules in effect, any individual that holds a license must comply with the new training standards at any shop, cultivation center, testing facility or manufacturer. Currently there a little less than 500 licensed medical marijuana shops and close to 250 recreational marijuana stores.
Washington, which just legalized recreational marijuana as July 8th, hasn’t caught up to Colorado’s stricter regulations yet. The Washington state Liquor Control Board enforces rules that require recreational marijuana products to be labeled clearly, an easy to read and understand serving size and the product must be approved by the board before selling.
Addressing Concerns
The end goal is not to create any extra burden on business owners; however it is to ensure safe consumption of edible marijuana. Many business owners aren’t thrilled about the additional expense associated with more regulations, but the overall consensus is that this will be great for sales in the edible industry.
Marijuana testing facilities can only test products from licensed growers and cultivators. This raises a major issue for caregivers and home growers. MED has not yet determined whether they would permit caregivers access to testing services.
Another concern besides increased costs includes but not limited to is the possibility of competition from black markets causing an increase in prices.
Marijuana Edible Companies
- Latteno Food Corporation (LATF: OTC Pink Sheets) is a very risky and speculative company and we do not recommend them. However they offer an extensive variety of edible products and are located in California.
- Dixie Elixirs, LLC is a private company which is affiliated with Marijuana, Inc. (MJNA: OTCBB). They manufacture and distribute medical marijuana products such as THC-infused beverages, cannabis sub-lingual and cannabis capsules.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
