The CBD industry is set to hit $22 billion in worth by the time 2022 rolls around. That’s pretty impressive considering that statistic only focuses on CBD. The marijuana industry encompasses everything from CBD oils to vapes. Plus, it is expanding as new products are developed and legalization becomes more widespread.
Marijuana industry trends point to significant growth in the industry as more products hit the market. Investors, distributors, and consumers all win as the cannabis industry continues to thrive.
The CBD Market is Exploding in Popularity
Hemp farming has been legalized nationally, making CBD a more easily obtainable option for those looking to buy cannabis-related products. CBD’s health benefits are attractive to a wide range of consumers, making the target market considerably larger than other cannabis industry products.
It has been said that the CBD market could potentially surpass sales from all other cannabis markets in the coming years.
Understanding the full breadth of the CBD market can help individuals realize the true extent of products, some which could be a great fit for them. It isn’t just CBD oils.
Other CBD products include lotions, shampoos, face masks, and healing balms. And this is only naming a few of the products available for purchase already. Varied options make CBD attractive to an expansive group of individuals.
CBD presents health benefits such as pain relief and a reduction in depression and anxiety. While studies are still being conducted, CBD is even an option for treating substance abuse.
Restaurants Showing Interest in Cannabis Menu Items
Is cannabis on the menu? It might be, given the rising interest restaurants are exhibiting toward cannabis-infused foods and beverages. A Baum and Whiteman trends report showed that restaurant goers are showing an increased interest in cannabis-based dishes and drinks. Restaurant owners are reacting positively as they look to bring consumer wants to fruition.
Mainstream eateries have yet to sign themselves up for this trend. However, it is noticeably popular among juice bars, cafes, and bakeries. Common infusions restaurateurs and toying with include hemp, oils, extractions, and cannabis.
Will a cannabis beverage be replacing your go-to cocktail as a favorite drink? Only time will tell as more restaurants respond to consumer interest.
Industry Trends Point to Highest Sales and Rising
As more marijuana products come to market, the audience of consumers is expanding. Demand is increasing from those using recreationally to those using due to medical reasons.
As legalization becomes more widespread, companies are able to expand their market and scale their production. From pharmaceutical cannabis products to vape, industry sales are skyrocketing.
International trade opportunities are becoming more desirable, and possible. If the international trade legislature lines up, there could be access to even more variety. This would only result in even further industry growth, boosting sales higher.
Not Just Flowers: Other Markets are Becoming More Prevalent
Vapes, edibles, and drinks are making a rise in popularity as alternatives to just the flower. Edibles, in particular, are a great alternative to smoking marijuana for those looking to try it for the first time.
Other methods of consumption are expected to trend upwards as smoking marijuana becomes the less popular go-to for consumers.
Gummies and chocolates are common edible options. These can be bought as CBD or THC.
These other markets are carving out their places to either serve the medicinal audience or those looking for alternatives to alcoholic beverages. Cannabis may even begin to rival alcohol use due to fewer side effects and health benefits. With cannabis, there are no worries of calorie dense beverages or hangovers after a long night out.
Investors Showing Increased Interest in the Cannabis Industry
Corporations such as Planet 13 Holding are a true testament to the ever-expanding variety of investment opportunities in the cannabis industry. As marijuana trends nationally and internationally, legalizations become prevalent, and new products are formulated, investment options surge.
Investors are looking to place their bets on products, new product design and formulation, and distribution. Keep in mind, individuals can invest in cannabis businesses through buying stocks.
As the cannabis industry expands there is room for growth in various businesses that deal with the weed first hand and those that serve the industry in other ways. Investment opportunities are ample and growing if you know where to put your money.
Other Cannabis Trends to Look for in 2019
The five trends mentioned above certainly aren’t where cannabis trends end. Although the cannabis market is fluctuating due to legalizations and regulations, the industry shows continued healthy growth.
More Cannabis Trends to Investigate this Year:
- Luxury cannabis products are on the rise as demand increases
- Terpenes, a compound found naturally in cannabis, is becoming a popular focus by producers
- Traditionally conservative states are beginning to legalize marijuana to varying degrees
- Cannabis skincare products are being tested and brought to market
- Branding is becoming important and necessary as the industry becomes more crowded
Whether you’re an entrepreneur, an investor, or simply a dedicated consumer, keeping an eye on industry trends will help you to prepare for what could unfold in the coming years.
Keep an Eye on Growth of the Cannabis Industry
As growth in the cannabis industry soars, weed stocks become more lucrative and consumers become eager for more options to hit the market. The industry doesn’t appear to be slowing down at any point in the near future.
While the market is growing and new directions within the industry are becoming identifiable trends, it’s wise to keep an eye on the latest news surrounding cannabis. Check out our blog to keep an eye on industry trends.