The Latest Trends in the Cannabis Industry
The cannabis industry is a successful industry that is ever-changing and has undergone a massive and notable shift in the past few decades. Before the cannabis industry was more underground because legalization was still a myth however, the demand was high. Now, legalization is spreading along with the demand for cannabis and cannabis products which has created a booming industry that is lucrative for entrepreneurs and investors. Technology and innovation have also played a key role in the development of the cannabis industry and we can see that now, there are many more devices, accessories, and consumption methods available compared to how things were before legalization. What’s even more important, all of these products have become more accessible and affordable, so nowadays it is very easy, for example, to buy a bong that suits your budget. That being said, it is clear that this is an industry that will likely always keep evolving, and as technology keeps growing, so will innovation. Like any other industry, the cannabis industry is full of trends and this article will highlight the latest trends in the industry.
Mass legalization
The legalization of cannabis is by far the most exciting trend in the industry. Since the start of legalization, the cannabis industry has grown significantly and the stigma has started to fade in most countries across the world. People are starting to embrace cannabis and the media is releasing information that shines a light on the many health benefits of cannabis consumption which is further growing the demand. We’ve already seen legalization spread to many regions and this will accelerate into mass legalization soon. This will result in the cannabis industry seeing a massive boom and strengthening its position as a powerhouse market in the economy. Mass legalization will also result in more job creation which will further strengthen the economy and empower many people looking for employment within this unique and interesting new industry. We will see more businesses being launched and thriving in this profitable industry and 2022, we can expect more legalization to spread in places like South Africa which is proposing more lenient laws for cannabis as well as many parts of Europe.
New unique products
There are many cannabis products available on the market for consumers to enjoy and these products vary from cannabis flowers, cannabis devices, cannabis accessories, and different consumption methods as well. Some of the more popular cannabis products you will find include gummies, cannabis-infused drinks, lighters, crushers, cannabis-inspired fashion, cannabis-infused skincare products and so much more. We have seen many new products and innovations being introduced thanks to technology and we will likely continue seeing innovations in the market in times to come. The development of new cannabis products means more opportunities for businesses to create their unique market and generate profits. Innovation within the industry also means that users will get to enjoy a unique and fun experience.
Record levels of consumption
Right now, the cannabis industry is at its peak with record levels of consumption across legalized nations. More and more people are using cannabis recreationally and medically which has been fuelled by the amount of research and studies being released to the public highlighting the benefits of cannabis. Legalization has also contributed to the incline in consumption because now the stigma is starting to fade amongst people who were previously opposed to cannabis due to strict laws against the herb. Furthermore, we see the media embracing cannabis more and normalizing the portrayal of cannabis as a normal thing as opposed to a super drug that causes users to act out in outlandish and ridiculous ways. It’s safe to predict that cannabis consumption will continue to rise if things keep moving at this pace and according to stats, Iceland tops the list of countries with the highest consumption levels. Other countries include Jamaica, Nigeria, France, and the US.
European Union will follow
As much as the world has largely begun embracing cannabis and supported legalization, many parts of Europe still hold onto the strong stigma surrounding this substance. It is predicted though that the European Union will soon join the trend and begin the legalization process which will further solidify the strength of the cannabis industry and potentially skyrocket the value of the global cannabis market. Additionally, people in Europe will be able to explore a more natural form of healing certain medical conditions as opposed to consuming pharmaceuticals that have been proven to be harmful when consumed for long periods.
