Colorado CBN Infused Edibles Q2 Market Snapshot
Despite only 13 CBN products being in the market during Q2 2021, the revenue generated by CBN products grew 38% to $2.2M of sales in the quarter. The increase in sales was largely a result of the significant growth of the three Wyld CBN SKUs which were responsible for $526k of the $653k in total revenue growth.
While Wyld has continuously demonstrated market dominance across all regulated states, CBN’s growing success in Colorado can also be also be attributed to Cheeba Chews which launched its Sleepy Time 1:2 (CBN:THC) Chocolate Taffy in April of 2020. Not only has it become the company’s best-selling product, but it also sells for an average of $28.52, and an EQ price of $0.29.
Similar to the Oregon market, CBN edibles are grabbing significantly higher average EQ prices. According to Headset the average EQ price for 100mg edibles in CO was $0.17 per mg, but CBN edibles with 100mg THC are averaging $0.27 per mg. New market entrants during the quarter from multi-state brands such as Dabba, Mr. Moxie’s, and Sunderstorm are likely to spur the continued growth of CBN edibles in Colorado.