Top Brands In $2.2B Cannabis Edibles Market Include Wyld, Incredibles, Wana And Kiva

As edibles rise in popularity across the cannabis industry, gummies have emerged as the preferred product for most consumers.

In 2023, 84% of cannabis consumers favored gummies, up from 45% in 2022. This growing demand has led several brands to dominate the edibles market, with the top ten brands capturing substantial market share in the week of August 25 to 31.

According to recent data, Wyld led the charge, securing 8.4% of the total market share. Close behind, Incredibles held 5%, followed by Wana and Kiva-Camino with 4% and 3.5% respectively. These four brands collectively captured nearly 21% of the market.

This information is from a recently shared New Frontier Data report.

Consumer Trends

The popularity of edibles extends beyond loyal cannabis consumers. In 2023, 70% of individuals considering trying cannabis for the first time indicated that they would opt for edibles.

Additionally, more current consumers are choosing non-flower cannabis products, with 21% reporting in 2023 that they only use non-flower forms, up from 17% in 2022.

For established brands like Wyld, Incredibles, Wana and Kiva, these trends present opportunities to secure a dedicated customer base. Consumer loyalty is high in this segment: 45% of consumers stated they always or usually buy the same brand of edibles. Only 7% reported rarely purchasing the same brand twice.

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Word-of-mouth remains crucial for the cannabis market. 60% of consumers rely on friends' recommendations when choosing which edible to buy.

With the edibles market on the rise, brands that dominate a market that has been estimated $2.2 billion dollars.

In addition to the top four, Smokiez, Good Day Farm and GRON are also key players. Brands like Off Hours and AYRLOOM complete the podium.

Read Also: Inside Grön’s Marijuana Edibles Factory: What Can We Learn About Choco-Nomics And Multi-State Expansion?

Top 10 Edibles Brands By Market Share:

1. Wyld – 8.4% market share
2. Incredibles – 5%
3. Wana – 4%
4. Kiva-Camino – 3.5%
5. Smokiez – 2.6%
6. Good Day Farm – 2.4%
7. GRON – 2.2%
8. Copperstate Farms – 2.1%
9. AYRLOOM – 2.1%
10. Off Hours – 1.9%

Read Next: Cannabis Company AYR Wellness Launches Gluten-Free Vegan Edibles, Targets $2B Market

Photo: Main Chart from New Frontier Report