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Trends in the industry for the cannabis enthusiast to know

Trends in the industry for the cannabis enthusiast to know
The Siliconreview
20 October, 2021

In recent years, cannabis has become very high in demand. The popularity of this product is constantly growing each day with more and more people learning about the benefits of using cannabis in their everyday lives. There are many cannabis strains available for users to choose from and it can be difficult for someone who has never consumed cannabis before to know exactly what they are looking for. If you are one of these individuals, this blog will help you get started on your cannabis journey and provide some insight into the different trends that are occurring in the cannabis industry.

More legalization

For the longest time, cannabis use and possession were illegal and people who were caught with this substance were criminalized. The FDA classed cannabis as a schedule 1 drug which put it in the same category as deadly and highly addictive drugs such as heroin and crack. Society, influenced by the mass media, started stigmatizing marijuana and the substance developed a nasty reputation. Today, we see a completely different reality and finally, that negative stigma attached to cannabis is being shed and people are starting to wake up to the truth about this drug. We now see the legalization of cannabis spread around the US and many other countries around the world. A lot of research is also being done on the health benefits which is further pushing for more legalization, especially for medical use. Cannabis is no longer criminalized in the US and many places around the world have legalized cannabis for medical use but not recreational use.

More sales

Cannabis has always been in demand before legalization, however, now that people can legally consume, there is more innovation in the industry. People are buying cannabis for recreational use as well as for medical use which has made cannabis sales skyrocket in recent years. On July 4th of this year alone, more than $400 million worth of cannabis was sold and experts are predicting that the cannabis industry has the potential to grow as much as $130 million per year in the near future. More sales results in more investments and more innovation in this industry which will create a better experience for the consumer.

More consumption methods

Traditionally, people consumed cannabis via joints, blunts, bongs, and “space” cookies however in recent years, there has been massive innovation in the industry and many new consumption methods have hit the market. Now there are even online stores like Grasscity that sell products such as vaporizers like the terp pen, tinctures, topicals, pills, cannabis oil, dab rigs, and a wider variety of edibles that even includes alcoholic beverages. This is wonderful for the consumer who is now afforded more choices and can now experiment and find the right method of consumption to meet their needs and requirements.

Variety of pricing

The newly legal cannabis market has introduced a variety of prices as well as potency. The price of cannabis depends on the strain and particular grade however, cannabis has always managed to remain affordable. Once legalization started to become more widespread, we have seen the price of recreational cannabis decrease and medical cannabis, although still affordable, is more costly because of the processing that the cannabis undergoes to make a certain consumption product such as tinctures of CBD oil. The affordable price means that users are not negatively impacted by legalization and can afford to consume cannabis recreationally as well as medically to treat certain health conditions.

More medical marijuana products

The spotlight shines bright on medical marijuana and the positive results of research and studies have created a demand for medical marijuana among people who suffer from various health conditions that range from minor to more severe. There are so many medical marijuana products on the market including topicals, tinctures, tampons, gum, teas, coffee, and even cannabis skincare. This gives consumers options and freedom to choose a product that best suits them.

The future of cannabis in our world looks bright. The truth about this amazingly versatile plant is being exposed and people in society are embracing this substance for many reasons. The industry will continue to grow and as growth develops, so will technology and innovation in the industry.