As the global cannabis industry continues to evolve, so too do the ways in which cannabis may be consumed. As such, check out six of the cannabis trends that we've identified for 2020.
Trends in the cannabis industry evolve really fast. Due to cannabis legalization in many states, more and more people start consuming marijuana for both medical and recreational purposes. That's why changes that are happening in the whole industry touch every aspect of it. Let's have a closer look at what is happening in the cannabis market in 2020.
1. Expansion of legalization
At the beginning of 2020 Illinois became the 11th state in the U.S that legalized recreational cannabis. This year nearly 20 states are moving towards some form of marijuana legalization and regulation, whereas 10 states are considering cannabis decriminalization bills at the moment. As of January 2020, there were nearly 1,000 cannabis-related bills moving through state legislatures processes in America. Today, cannabis is legalized in one form or another in 47 states and the District of Columbia. According to Vox, at least 18 states are going to loosen their laws regarding cannabis use in 2020.
It is easy to predict that the cannabis legalization movement will grow even stronger in 2020. Today activists are working hard to make marijuana legalized in more states. There is a chance that it will become legal in Connecticut, New Jersey, New York, Rhode Island, New Mexico, and Minnesota. According to the cannabis industry statistics, around two-thirds of the population supports federal legislation of marijuana. This figure is likely to rise during 2020 because more and more people get aware of the potential benefits of cannabis
2. Personalized cannabis consumption
All people experience various effects of using cannabis. For some of them, it is a great remedy to have a good sleep, whereas for others it can be a source of anxiety. Such controversial effects of marijuana are caused by its complex compound. This plant contains over 100 different chemicals called cannabinoids that interact with the endocannabinoid system in our bodies and produce certain effects. Studies show that due to the individual differences, every person reacts differently to those chemicals. Today cannabis manufacturers realize pot's variability and try to offer products that will perfectly fit consumers. That's the reason why cannabis personalization will be in trend in the nearest future.
Some scientists argue that genetic variations in DNA are related to certain cannabinoid effects. For instance, if you have a genetically higher risk of Alzheimer's disease, you will be recommended strains with high α-pinene levels because they are considered to improve memory.
Bad if you don't want to have DNA testing in order to choose the best cannabis strain for yourself, there is another way to personalize your experience. There is an app that allows its users to journal feelings after taking different strains. This app crowdsources your data and then provides you with recommendations of strain type that could fit best for you.
3. Increased CBD consumption
Today people are talking about CBD more than ever before. CBD or cannabidiol is a non-intoxicating chemical derived from cannabis. By interacting with the body's endocannabinoid system it promotes psychological balance. The cannabis market research shows that CBD is used by roughly 7% of Americans and its sales continue to grow. This way, the hemp-CBD market will mature in 2020.
4. Cannabis lounge
There is a growing number of places that are beginning to open up to the idea of marijuana consumption lounge. The first cannabis lounge in Illinois was approved in January, whereas in Nevada it was launched late last year. The demand for visiting a cannabis lounge keeps growing in 2020 as people want to have a social place to enjoy pot.
5. Boost in concentrates sales
According to the information provided by BDS Analytics, in 2018 cannabis concentrates overtook sales of the dry flower with 37% of all pot sales in comparison to 32%. It was also predicted that concentrates will hit $8 billion in sales by 2022, which means that they will get more popular over the next few years.
Concentrates are oils infused with THC and/or CBD that offer a lot of advantages over smoking marijuana. They can be consumed with the help of vape pens which don't require time to heat up on the contrary to dry flower vaporizers. Moreover, they are less harsh on your lungs and don't have a strong smell. Using concentrates is a quick and easy way to consume cannabis, so that's why it's becoming a trend in 2020.
6. New cannabis products
Manufacturers keep producing new cannabis products to satisfy customers' needs. A lot of popular companies, such as Molson-Coors and Coca-Cola are considering creating cannabis-infused drinks. Cannabis industry projections are also related to edibles. It is believed that CBD edibles are likely to be represented in a bigger variety in 2020. Moreover, it's possible that breeders will create new types of strains to meet various consumers' needs.
Due to the rapid development of the cannabis industry, future trends involve growth in cannabis jobs and consolidations of cannabis companies. In addition, the range of customers is likely to become more diverse. As the information on marijuana consumption spreads quickly all over the world, people will become more aware of its benefits. Today researchers keep studying new possible uses of medical marijuana, so more doctors will probably recommend it to their patients.
Written by Tia Moskalenko, Editor and Contributor at AskGrowers
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