It’s still 2020, so naturally we could all use some good news…Like the latest trends and fads in one of our favourite industries – cannabis. The weed biz has been on the up and up, since widespread legalization has seemingly taken on the world.
With an uptick in product innovations, new user trends, and advancing research that is further opening our eyes to what cannabis can truly do. As an industry that moves faster than any before, it’s important to keep up with all the latest.
That’s why we took the time to compile the freshest trends that you’ll want to keep your sights on. So here are the 5 most monumental movements the marijuana industry has seen this year, and what’s on the forecast for a more elevated 2021.
Trend #1 – Edibles on the Rise
Weed infused edibles have been on the rise steadily for quite some time now. Which isn’t slowing down anytime soon. Edibles, once feared by many for overwhelming or intense effects, are now being more widely accepted. Especially by beginner consumers, who are hesitant to other more traditional intake methods, like smoking or vaping.
The edibles found in today’s world of weed have been fine-tuned to provide well-balanced effects with accurate dosing. Allowing a wider range of users despite their experience level, to try them.
In fact, just one recent report published that 48% of Canadians who have yet to try cannabis, would be interested in consuming edibles. Meanwhile, other sources are citing that the edibles market is expected to quadruple in the US and Canada by 2022. Forecasting sales to reach over $4.1 billion by that time.
There’s also a few specific trends that are occurring within the edibles category, too. The Deloitte 2018 Cannabis Report cited that new users were most eager to try infused baked goods the most at 51% with edible chocolates coming in second at 43%. Gummies follow closely in third for beginner consumers, at 37%
Trend #2 – CBD Craze Continues
On the topic of consumers who are hesitant to try THC, it’s no surprise that the CBD craze is continuing in 2020 and beyond. CBD offers consumers the health benefits of cannabis, without too psychoactive of a high that some may still fear. Currently, CBD product trends are also shifting from oils that can be found practically anywhere, to craft hemp CBD rich flower like CBD Dana.
Regardless of the type of product, consumers are loving CBD. As shown by experts estimating a 31.9% market growth by CBD oil alone, from 2020 – 2027. What’s helping fuel the fad could be the fact that Canada stands as one of the top hemp producers in the world.
Meaning supply is keeping up with the demand. Over the next five years, the Nation’s industry experts are projecting sales of CBD in Canada to reach $1 billion.
Trend #3 – Shifting Acceptability
Like we saw in our edibles trend, acceptability of consumption is shifting, too. More and more Canadians are now in favour of cannabis use, than ever before. Here’s exactly how perceptions shifted pre- and post- legalization :
- 43% of the population cited cannabis use as socially acceptable
- 40% of the population cited cannabis uses as NOT socially acceptable
- With 17% undecided
- 46% of the population cited cannabis use as socially acceptable
- 31% of the population cited cannabis use as NOT socially acceptable
- With 23% undecided
Since the survey was conducted just one year after legalization, the industry is expecting that the shift of socially accepting cannabis use will continue positively.
Trend #4 – Health And Wellness
Even though some citizens may see consuming cannabis as just as a social or recreational activity, actual user reports are proving quite the opposite. In fact, most Canadian users are using the plant for health and wellness purposes. The same 2018 Cannabis Report from Deloitte surveyed actual consumers and found below to be the top reasons the group is elevating with weed:
- 66% consume to help with relaxing or sleeping
- 62% consume to help reduce stress and anxiety
- 48% consume to improve their mood
While over half of the respondents (58%) did indicate they consume to ‘have fun with their friends’, the information goes to show that health and wellness purposes still reign supreme.
Market experts are citing that additional education into cannabis and its plethora of health benefits, may be playing a role in the use of weed by a growing number of people. In addition, to helping the shift into how citizens perceive its use, too.
Trend #5 – Cannabis Tourists
Next up on tour…are cannabis vacations. One trend that many experts are foreseeing for the industry is a rise in cannabis tourists. With big cities like Vancouver already taking part in the fresh trend. Vancouver is already offering cannabis in main street locations, like cafés and non-dispensary type retail storefronts.
Attracting a whole new set of travellers, for a new type of trip. The same is happening in Toronto, and other areas in Quebec and Ontario as regulators dealt with a surge of applications to open private stores and locations, at the beginning of legalization.
One of the biggest endeavours is Canopy Growth and their purchase of an old Hershey’s Chocolate Factory in Smith Falls, Ontario. They’ll host a tourist centre, allow visitors to get a sneak peek into grow rooms, and more. Most recently, Vice News reported on ‘luxury weed tourism’ on the up and up, in Canada specifically.
Keeping up with Cannabis Trends
To remain in-tune with the cannabis world, you’ve got to keep up with the trends. The industry is ever-evolving as it’s just in its early stages of existence. As the market keeps growing, consumer wise, in products, and culturally, you’ll continue to experience a learning curve of fresh trends. Making even the most veteran of consumers, newbies again, too.
At Greenz we’re always staying on top of the latest, keeping an inventory of the hottest strains, edibles, products and more. Join us in doing so, and check out our collection of top-quality trending goods now.