6 Consumer & Cannabis Industry Trends
Estimated 4-minute read
The world seems to move at a fascinating speed, quite literally and figuratively. Industries expand, trends rise and fall, and cannabis is not the exception. For better or for worse (some may argue), the internet has made us more connected than ever, and what’s fashionable somewhere only needs a couple of hours to reach the other side of the world.
As far apart as we are, we cannot deny that a great deal of what we do affects others, and as cannabis expands and starts being decriminalized in several countries, people share their experiences, markets collide and business opportunities arise.
In this article we’ll review new cannabis trends that have been expanding around the world this year, but first, let us have a little context.
Covid Pandemic AKA The Cannabis Renaissance
Back in March, The Guardian wrote an article stating that the pandemic created a new generation of stoners. There was a standard when covid hit; as people isolated, went into lockdown and started working from home, anxiety and depression cases started to rise. Given the fact that weed helps ease symptoms of anxiety, some people started turning to cannabis and using it as a self-medicating thing to cope with everything that was going on around them.
In the United States, legal marijuana sales increased by 120% through 2020, Headset found on their data analytics. Obviously, there’s multiple factors at play, starting with the fact that medical cannabis was made accessible in 37 states, as well as other 18 states that now allow recreational use. Secondly, decriminalization and de-stigmatization in general helped people give cannabis a chance. And third, the lockdown Covid experience lit up what The Guardian calls a “cannabis renaissance” in houses that were neutral about weed.
Will pandemic stoners keep consuming cannabis as regularly as they did during lockdown? Or is this habit only temporary? Nobody can know for sure, but what’s certain is that weed helped them cope in a time where we all needed to feel something good, and by doing so they helped the cannabis industry spark.
Cannabis Industry Trends
It is no secret that the legalization of medical and recreational marijuana has been in the global trend for almost a decade starting with Uruguay, who was the first country in the world to legalize recreational marijuana back in 2013.
This year, decriminalization continues in countries like Mexico and legalization expands in countries like the United States.
The EisenAmper private enterprise quoted a report by the National Organization for the Reform of Marijuana Laws, where it confirmed that American lawmakers enacted more than 50 new cannabis-related reform laws in 2021 alone. It is safe to say that the public and political support is huge, so EisenAmper is positive that legalization will keep moving forward.
According to Fortune, legal sales of marijuana are expected to top $33 billion by the end of 2022. The study was carried out by MJBiz, a leading B2B cannabis industry that has a news outlet for professionals in the recreational and medical cannabis industry in the United States.
EisenAmper marks that there has been an increased development for intellectual property (IP) by those who are involved in the growing and retailing sector.
IP involves assets such as patents, copyrights, trademarks and name identities; in fact, HØJ fits into this category! Our products such as KLIP & KØL are patented and exclusively designed to transform the user experience at every stage that weed goes through.
Weed Consumers Trends
The post-covid new normal has impacted every single country around the world, as well as many industries. Clutch Creative Co. is positive that this “cannabis renaissance” came here to stay, so here’s a few consumer trends that you don't want to miss out.
Since the pandemic hit, the two of the largest growing and evolving consumers in the cannabis industry include women and Millennials. According to a research done by Akerna, women make up one-third of the entire population of cannabis consumers in the U.S, and nearly half of them are under 40.
Clutch Creative Co. marks the trends as following:
- Women tend to microdose or consume lower-dose (25mg or less) infused foods and beverages.
- Women tend to buy topical products such as lotions, creams, and oils more than twice that men do.
- Women over 30 tend to buy less flowerbud than men.
Grand View Research has been claiming since 2020 that the cannabis-infused market could be worth up to $3 Billion by 2025. Nowadays the market is still relatively small, but dispensaries have been thinking ahead with CBD infused drinks, and when legislation steps up their game, they could even be selling THC infused beverages.
Earlier in this article it was mentioned that we don’t know for sure if pandemic stoners will keep consuming cannabis regularly; however, Clutch Creative Co. is very keen to bet on it. The design company affirms that cannabis retail sales are expected to remain steady as more markets are given the chance to kick off and keep expanding.
So there you have it, six interesting projections for the cannabis market for this 2022 and the years to come. What are you most excited about?
Author: Mary Jane
Connors, L. Daily updates on the Coronavirus and its effects on cannabis markets. Headset. Retrieved from https://www.headset.io/posts/headset-coronavirus-and-its-effects-on-cannabis-markets
Clutch Creative Co (2022). Cannabis Consumer Trends for 2022. Retrieved from https://www.clutchcreativeco.com/cannabis-consumer-trends-for-2022/
Grand View Research (2020). Cannabis Beverages Market Worth $2.8 Billion By 2025 | CAGR: 17.8% Retrieved from https://www.grandviewresearch.com/press-release/global-cannabis-beverages-market?mod=article_inline
Klein, H. and Bentivegna, M.C. (2022). Cannabis Industry Trends for 2022. Eisner Amper. Retrieved from https://www.eisneramper.com/cannabis-trends-0422/
Morris. C. (2022). Legal marijuana sales in the U.S. expected to hit $33 billion this year. Fortune. Retrieved from https://fortune.com/2022/04/11/legal-marijuana-sales-33-billion-2022/
Winkie, L. (2022). How the pandemic created a new generation of stoners. The Guardian. Retrieved from https://www.theguardian.com/us-news/2022/mar/30/pandemic-marijuana-use-increase-covid
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