The secret is out.
Juva Life Inc. has announced the launch of its in-house line of cannabis concentrates.
It’s called Secret Sauce, and the extracts are available in California.
Juva is a Vancouver-headquartered cannabis company that does business in the Golden State.
Its cultivation facility is located in Stockton.
“Expanding upon our successful five-star delivery service and flower products, Juva’s first in-house branded product represents a strategic decision to expand into high-growth product categories like concentrates,” Juva founder and CEO Doug Chloupek said in a media release Wednesday (March 30).
The release includes a reference to a report about the growth in the market share of concentrates.
The report was prepared by Arcview Market Research and BDS Analytics.
The paper noted that from a legal market share in the U.S. of 10 percent in 2014, concentrates are expected to represent 27 percent of sales in 2022.
The report noted that a “growing consumer preference for vaping versus smoking that is also happening with tobacco consumption, and the concentrates revolution will affect every aspect of the legal cannabis business”.
“For consumers, it’s a discreet and healthier choice that will likely make cannabis consumers of people who would never dream of inhaling smoke,” the paper stated.
Concentrates are extracts or a concentrated form of THC or tetrahydrocannabinol, the substance that brings a high among cannabis users.
THC levels range from 40 to 80 percent.
That’s about four times the typical THC of 20 percent in other products.
A lot of concentrate users consume concentrates by vaping, which involves inhaling a vapor produced by an electronic cigarette.