The second most established company in Florida’s medical marijuana market, Liberty Health Sciences (CNQ: LHS), just announced that a new line of products is getting ready to hit the market. The company confirmed that, at this moment, it is awaiting approval from the state’s Department of Agriculture (FDACS) and Department of Health to start distributing its products across its stores in the Sunshine State. The new products will include an assortment of edibles, such as cookies, chocolates, pretzels, chips, bars, lozenges, gummies and several other baked goods and beverages.
The launch of this new line of cannabis edibles is planned for this coming November, and will start from the very beginning with a full product roll-out state-wide. Liberty Health will start with the launch of the Big Pete’s brand, which will offer its cannabis-infused cookies, and Clarity Brands will launch its tetrahydrocannabinol (THC) gummies, cookies and energy bites. “We are excited to partner with some of the best edibles companies in the country to better serve our customers who have been anxiously awaiting the new rules for edible sales in the state,” said Victor Mancebo, CEO of Liberty Health. “There is strong demand for edibles among our patients and we anticipate it will make up a significant portion of our overall sales in the coming months. We are also happy to provide our customers more alternatives as to how they can consume and enjoy our products for a myriad of health benefits.”
Liberty Health has been working on expanding its market reach in one of the most profitable states in the country when it comes to medical marijuana. Just recently, the company built a state-of-the-art commercial-grade kitchen at its Gainesville-based LHS360 production facility to be able to prepare products like cookies, gummies and beverages. Cannabis ventures are working in diversifying their offerings by increasing the number of edibles and cannabis derivatives in the market and, based on a recent report from ArcView Market Research and BDS Analytics, the cannabis edibles market will be four times its current size across US and Canadian markets by 2022, for a total of $4.1 billion.