Trends to Pay Attention to in The Cannabis Industry
The marijuana market has been around for years now, but it is starting to gain more momentum. There are now several states that have legalized the drug for recreational purposes and there are even more who have approved the drug to be used as medicine.
One thing to keep in mind is that with every new market, new trends emerge, some trends are forgotten, and the market can fluctuate quite a bit. This is important for potential cannabis business owners or investors, and more so for people already in the industry. If you are a cannabis business owner or want to invest in the industry, here are a few cannabis trends to pay attention to in 2021.
One trend that is to be expected is the increased legalization of marijuana, whether it be recreational or medical. So far, there have been 19 states that have legalized the use of recreational marijuana, as well as Guam and Washington D.C. In terms of medical marijuana, so far 37 states have approved the legalization for medicinal purposes.
As time progresses, we can expect more states to begin legalizing; there is speculation that Hawaii, Minnesota, and Connecticut might legalize next. Across the states, the support for marijuana to be legalized among citizens is quite overwhelming, with 31% of Americans agreeing with medicinal legalization, and 91% agreeing with recreational legalization.
Increase in Consumption Methods
The next trend that is going to be more prevalent as time passes is an increase in the available marijuana consumption methods. Already there are many to choose from, such as bongs, joints, tinctures, edibles, dry herb vaporizers, marijuana bath bombs, and tablets, and more than this, many of these methods are available online at sites, like Grasscity, making it even more accessible. The list of consumption methods will increase.
This is because people are continually looking for more effective ways to consume cannabis. More than this, it has been shown that traditional methods of consuming cannabis aren’t the healthiest, and there is a shift in society for healthy living. When it comes to marijuana consumption methods, this can be seen by the fact that dry herb vaporizers or edibles are becoming more popular than using a bong for example.
CBD Products Becoming More Popular
As mentioned above, there is an increased desire in society for healthy living, and there are marijuana products that make this possible, or aid in this pursuit. One product, in particular, is CBD, and market research has shown an increase in popularity of CBD-related products. A possible reason why CBD products are gaining popularity so quickly is that they’re more widely accepted than marijuana products that contain THC. This is because CBD doesn’t contain any psychoactive properties, so it won’t get you high and is completely legal.
CBD also provides a range of benefits, such as reducing anxiety and depression, helping with pain, aiding in the ability to focus, and more.
Branding and Advertising Changes
Many people outside of the marijuana industry might not know this, but advertising and marketing within the marijuana industry are quite challenging. This is because marijuana is still a controlled substance, so it is still illegal under federal law, which means that it can’t be openly advertised. This applies to social media as well, however, brands can post images of marijuana on social media at least.
What the industry will see shortly is a change of branding and advertising laws as marijuana is legalized in more states. This will most likely happen sooner rather than later, since the industry is growing at an exponential rate, and there would be no reason to limit the growth of an industry that is providing many benefits to the economy.
Better Growing Methods
Finally, a trend that is already being seen is better growing methods. Growing methods in the past were far from sophisticated, and because the technology being used wasn’t efficient, it was also very expensive. However, with legalization and the growth of an industry, growing methods are beginning to change and advance. Now, not only is growing marijuana much cheaper, but it’s also possible to grow a variety of different strains, as well as increase the speed at which growth takes place.