As more states open up to legalize cannabis, it's easy to see that the green industry is booming. There are more and more people who experience the benefits of cannabis. But with this growth, new trends are emerging every year. Many recent developments are having a positive impact on the cannabis market. Large-scale legalization and regulation in America are generating optimism in the market.
Cannabis is already legal or in the process of being legalized in over 25 countries around the world and its continued legalization is a historic moment in the development of the food and beverage sectors. Some have compared it to the fall of the prohibition on alcohol, but with much longer-lasting effects on health, science and biotechnology.
1. The increasing popularity of CBD products
CBD is a cannabinoid or chemical compound found in cannabis plants, such as hemp and marijuana. It is usually extracted from the plant using solvents or CO2 extraction. Once isolated from the plant, CBD can be added to foods and beverages or consumed as an oil. It is also used in topical creams and ointments to treat inflammation and pain. CBD is one of over 100 cannabinoids found in the cannabis plant. The most common are tetrahydrocannabinol (THC) and cannabidiol (CBD). THC is responsible for the psychoactive effects associated with cannabis use, while CBD has no such side effects – it is not psychoactive. However, both compounds have their health benefits when consumed individually or together.
The popularity of CBD products has grown in a short time, and the industry has developed significantly as there are so many different CBD products we can now see on the market. Today we have the opportunity to choose different forms of CBD: oil, tinctures, creams, balms and the popular CBD product "edibles". CBD can be consumed in many different ways, but one of the most popular methods is the use of dry herb vaporizers. Dry CBD flower is a popular product that raised dry herb vaporizers’ popularity to a whole other level. Dry herb vaporizers have never been so sought after, they’re available in all shapes and sizes, and most importantly, they are considered a healthy alternative when it comes to cannabis consumption.
2. Cannabis edibles becoming more popular
While the initial CBD products on the market range from food and drinks with mood-altering tetrahydrocannabinol to brands containing the healthful cannabidiol, there are a large number of other cannabinoids that are not yet well researched. The possibilities for putting them into food and drinks are wide – with different properties and potential effects that are still being researched. As the industry evolves, the increasingly complex range of products will serve different demographics and countries.
However, cannabis edibles are becoming increasingly popular due to their numerous health benefits and immediate effects. They are considered a better option for consuming CBD compared to smoking and other methods. We can now easily buy CBD products in the form of brownies, cookies, and candies, you can also make them at home using cannabis in the form of oil or dried products.
Note: If you are a beginner, always read the note to make sure you start with a small dose at first.
3. The rise of cannabis tourism
Nowadays, many popular destinations are increasingly creating events and activities related to the consumption of cannabis to attract visitors. The tourism sector has also been quick to respond to the growth in demand for cannabis and CBD products by creating experiences that incorporate these elements.
They also respond to the anticipated economic potential related to increased hotel occupancy, tax revenue, business expansion, job creation, and public health and safety benefits that could be associated with the sale of cannabis.
New business models focus on agritourism, culinary tourism, and events like cannabis festivals. Tourists can choose farm routes, hotels that offer CBD products for breakfast, city tours, cannabis festivals, wine and marijuana combinations, "CBD yoga" and other packages that combine accommodation and the experience of consuming cannabis.
The potential for cannabis tourism is widespread worldwide. Over 19 US states and the city of Washington have legalized recreational cannabis, along with Canada, Mexico, Uruguay, and other countries.
4. The impact of the cannabis industry on the economy
An increased number of CBD product sales has been recorded during the past five years. Many states are now turning the cannabis business into a main source of income and a possibility of new job openings. When it comes to the economic impact of cannabis, it is important to know that it comes from a few different factors, such as:
Increased number of new job openings
Increased revenues without tax
Reduced government spending