NJ’s Cannabis Industry Expands: Infused Beverages, Edibles Drive Growth
The New Jersey cannabis market is experiencing rapid growth, with significant developments in the cannabis-infused beverage segment. As the state’s cannabis industry anticipates nearly doubling its revenue from $555 million in 2022 to a projected $1 billion in 2023, cannabis beverages are poised to play a crucial role in this expansion, according to research from Stockton University.
Expanding Product Offerings
In 2023, the New Jersey Cannabis Regulatory Commission (NJCRC) announced an expanded market for edibles and infused beverages. This development follows a waiver application by some Class 2 manufacturers, allowing them to produce caramels and chocolates. Once the public comment period concludes, all Class 2 licensees will be authorized to make a variety of edibles, including baked goods, savory snacks, infused oils, butters, jams, and low THC (5 milligrams per serving or less) infused beverages. Previously, only lozenges, syrups, drink drops, pills, tablets, and capsules were permitted, according to Rob Mejia, a teaching specialist in Cannabis Studies at Stockton University.
Market Demand And Consumer Preferences
The introduction of low-THC cannabis beverages aligns with shifting consumer preferences. According to a survey by New Frontier Data, 69% of …