Depending on where you live, you might have noticed an uptake in cannabis-infused products available online as well as in dedicated physical stores. There’s also much more talk about cannabis and the various strains used in the production of cannabis items, from delicious edibles like gummy bears and brownies, all the way to traditional pre-rolls. You know we’ve come a long way when we can call a marijuana roll a “traditional” item, right?
With so many markets rapidly changing due to the pandemic and new customer behaviors and preferences, it’s no wonder the cannabis market is adapting, too. For connoisseurs and enthusiasts out there, as well as the cannabis newbies, the following trends will likely dominate the industry in 2021 and redefine the role of cannabis in our lives.
Greater legalization across the globe
Aside from medical cannabis doctors, which has been legal for a while in many countries in an attempt to alleviate the pain so many terminal patients are going through, the world is now moving towards overall legalization. The Netherlands and Canada are leading the race, with many other countries like Uruguay advancing as well.
The movement has been a long time coming, and with it, more brands are now able to legally set up shop and sell their products offline, online, and find trusted distributors. This, however, also means paying taxes for all cannabis businesses, which means that the industry is helping the entire economy blossom, so to speak.
More investment and funding opportunities
Although some countries still prohibit the commercial sale of cannabis products and only allow private use with a limited number of plants on the premises, the legalization in other countries like Canada is changing how the economy perceives cannabis brands. They are now one of those businesses with immense growth potential, and more investors are eager to have a go and work with local brands.
Additionally, legalization is also enabling banks to provide business loans to entrepreneurs looking to join the cannabis industry. This alone is making this niche quite profitable and increasingly popular among younger business leaders wanting to make a name for themselves.
Improved product availability
The hush-hush nature of the cannabis industry is rapidly switching to a much more transparent, over-the-counter type of process. Legalization has enabled dedicated cannabis experts to grow various strains and create products for their target audience, but it’s also possible to market their products online via branded websites and online stores.
For greater convenience, brands can now offer a cannabis delivery service as a way to be even more competitive in the quickly developing local marketplace. This kind of availability is making it possible for brands to reach more people, help those who need cannabis products for medical reasons, but also grow during crises the likes of the pandemic.
Product diversification at its peak
Spreading legalization combined with more money from investors and banks means another logical result to dominate 2021: more products to choose from. The aforementioned pre-rolls and edibles are far from the only portions of the industry that are evolving.
We should also look forward to cannabis-infused beverages becoming another norm, easy to find in pretty much any store specializing in cannabis products. We can also expect more options for cartridges with different flavors, but also CBD tea products, pet products for pain relief and reducing anxiety, chocolate-based CBD products, candy and lollipops, topical products, etc.
Industry growth inspiring less stigmatization
In 2021, one major trend dictating all others will be the growth of the cannabis industry and more cannabis businesses opening across the world, where the use and sale of cannabis are legal, of course. Although this growth is visible through the previous trends, including product diversification and funding, there’s another resulting perk of this growth: a mindset shift happening everywhere to embrace a more positive view of the practice.
Although in most cultures, there has been a fair amount of understanding and respect for people with terminal illnesses using cannabis-infused products, the same could not have been said for regular users. Now that the industry is expanding, we’ll see less stigmatization and more acceptance for everyone involved.
People are now moving towards more diversity in how they regulate stress and what they do to relax. With cannabis products now more widely available (with better-regulated ingredients to ensure customer trust and product quality), more people are eager to try cannabis in its many, soothing and uplifting forms. Perhaps this brief overview of where the industry is headed in 2021 might inspire you to give new brands a try or to join the playing field with your own cannabis-infused idea.