2019 was a year of ups and downs for the cannabis industry as it went through policing turbulence. The demand for cannabis products has never been higher since the consumer market is more aware of its effects.
Companies like Zamnesia have successfully educated consumers on popular cannabis trends like the best temperature for vaping. Since vaping has become increasingly popular with young adults the information has helped further promote cannabis use.
While it’s one of the fastest-growing sectors in the consumer and producer market, its delayed legalization affected the productivity of many companies.
As such, a lot of expectation was put on 2020 as the cannabis industry has taken root following its successful legalization. This has led to the growth of the marijuana business, hence the increasing number of emerging trends.
Despite the Covid-19 pandemic and its negative effect on the economy in 2020, we’re likely to experience more growth. The consumer market is knowledgeable of the varying types of cannabis products available.
Top Current Trends to Lookout for in 2020
Although the cannabis industry has had some hurdles, it’s still a young sector that can gravitate to any direction. However, there’re some emerging trends this year. They include:
One of the drawbacks the cannabis industry has been dealing with is legalization since several federal policies were against it. However, research now shows that more states are easing the rules and regulations governing the business.
With legalization, more investors are likely to put down their money since the banking regulations are favorable. The government is determined to support the cannabis industry and this will likely lead to full legalization.
The cannabis industry is undergoing maturation and has not reached its peak yet. With partial legalization, the industry players are turning to more professional business practices.
Executives who once worked in tech, finance, and other business sectors are being recruited to the cannabis industry. Cannabis-based companies also offer training programs to promote the development of innovative cannabis products.
When the investments in the cannabis industry increase, then this means that the industry is growing. This is because the business operations are simpler and favorable for the investors.
With the undergoing consumer education on cannabis and related products, the sales are bound to rise significantly. The demand is growing and the market is getting larger. Evolution is what we should expect from a cannabis business.
Increased cannabis products
Hemp and CBD are extracted from cannabis to create different products based on consumer preference. The medical industry has embraced CBD-based products because of the associated health benefits.
Consumers who are not looking to get high can also use THC-free CBD products to promote wellness. If getting high is your objective, there’re a variety of cannabis products to choose from.
Cannabis-infused products are here to ensure you don’t go to work or family meetings smelling like weed! There’re drinks (dietary, fruit juices, and energy) infused with cannabis to get rid of the distinct smell.
You can get rosin infused pre-rolls that burn out slower and are aromatic. There’re also edibles like fruit cakes, cookies, candy, and sweets made with CBD.
Big companies like Coca Cola are eyeing this growing industry as they plan the release of CBD-based carbonated drinks.
Research on the medical benefits of cannabis
A lot of funds have been set aside for cannabis research as a public initiative to promote responsible cannabis use is launched. The medical benefits of cannabis are also under research as its natural cannabinoids have anti-cancer and antibiotic properties.
Researchers are learning more about the cannabinoids in cannabis and how to synthesize them to create innovative products. For example, topical CBD creams are used for their antibiotic properties and others have therapeutic benefits.
Some of the compounds that researchers have found in cannabis are THCV, CBG, CBN, THCA, Limonene, CBC, Delta-8-THC, and some terpenes.
These compounds decrease susceptibility to health problems, with the latest research being on coronavirus.
The cannabis industry is growing exponentially as more medical experts are recommending the use of CBD-based products. The legalization of cannabis has also seen an increase in stock investments as the banking system supports the business.
Despite the rising interest in cannabis from the government to consumers, growers, and distributors, the industry still carries huge risks. However, a good investor likes a volatile economy and taking risks!