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Alternative options: the products using cannabis as a selling point

As more and more brands take advantage of the now more legal than ever status of cannabis, it’s no surprise that – on par with the unicorn and mermaid trends sweeping the continent – thousands of different businesses are touting marijuana as a major selling point on their latest products. From alternative treatments to wellbeing merchandise, luxury products to beauty items, cannabis is well and truly a staple of countless brands in 2019, and that doesn’t look set to change any time soon.

According to CB Insights, the cannabis boom is more than just a common trend. The industry surrounding legal marijuana has expanded so much in the last few years that research suggests consumer spending on specialized cannabis-based products of all shapes and sizes will reach a staggering $32 billion in just three short years. For any industry, this rapid growth is extraordinary. But especially so for a substance that, just a short while ago, was wholly illegal and criminalized across the USA, except for under specific medical circumstances.

For businesses, cashing in on the latest craze is nothing new. From the Furby toys of the ’90s to the country’s obsession with UGG boots in the 2000s, the concept of a product going supernova has never been a new one. But when it comes to cannabis, the difference is in the way in which the plant product has permeated every aspect of popular culture – from wellness to health, packaging to banking and everything else in-between. It could be suggested that this steady upward trend in cannabis is in part due to its previously being taboo, but for many consumers, this is the first time any form of single product or materials has caused such as stir.

So, as cannabis continues to grow in popularity as the cure-all, do-all product, what markets are profiting the most from the sudden influx of interested consumers? Is marijuana going to continue expanding to even more markets, or reach its peak of public interest in the next couple of years? Though these are not yet questions we can answer, we can take a closer look at the widespread use of marijuana in products to examine precisely how broad, and expansive, this trend is.

One thing to consider about cannabis as a consumer product is how those who partake in the substance prefer to consume it. With North America having a long-ingrained belief of marijuana is wrong, it takes more than simple legalization to undo decades of awareness posters and high school health classes.

Interestingly enough, this public belief is strengthened by research by New Frontier Data, in which it was shown that 69% of cannabis consumers chose solid edibles and 54% chosen liquid edibles, while 44% chose topicals. A vast difference when compared to 36% of cannabis consumers using joints, or 19% using pipes or water pipes. This shift in perception – away from the traditional joint or classic bong – represents a different kind of consumer now investing in marijuana as part of their regular shopping habits.

While brownies are the traditional option for food-based cannabis products, since the legalization of marijuana the food industry surrounding pot has exploded, resulting in a massive increased of hemp, cannabis or CBT-inclusive beverages and food items on the market. These beverages include anything from infused or flavored water, teas, coffees, and even specialty products in kombucha – all now legally available to consumers.

As for food-based products, there has been a vast increase in chocolate and candy-based edibles, such as gummy bears or chocolate bars. While these items are becoming more and more mainstream, the age restriction attached to the use of recreational cannabis makes sales difficult. With strict regulations not currently in place in regards to labeling and packaging, it’s likely that over time edibles will evolve into a more top-shelf, specialty product – while remaining just as popular as they have become today.

Cannabis has been used in the health and wellness community for centuries with little regard of its actual legal status. But with the legalization of marijuana, the use of the plant has increased in countless wellness and health products and supplements. This variety of products includes anything from topical creams and tinctures to reduce inflammation, healing, managing pain, and even improving sleep. Other ingested capsule and tinctures, often containing high levels of CBD, usually advertise their purpose for calming and reducing anxiety in individuals.

Over-The-Counter sale of cannabis for wellness has been shown to improve many elements of individual’s lives, according to Eaze Insights. This includes a 71% reduction in reliance on medication over-the-counter, as well as a reduced dependency for prescription medicine, alcohol, and even tobacco. With so many benefits and studies proving positive results, it’s little wonder medical and wellness brands are falling over each other to grab their own little corner of this increasingly profitable market.

While generally considered one of the lesser markets for cannabis, the beauty industry certainly isn’t sitting back when it comes to utilizing the hottest ingredient on the market into their products. Hailed at the ‘next big thing in beauty,’ as the attitudes surrounding the use of the drug has changed, so has the public’s opinions as to its benefits for the skin and body. Described often in marketing copy as being antioxidant and anti-inflammatory, top uses include for eczema treatment, as well as increasing hydration and offering a vegan alternative to beeswax in some cases.

For lovers of skincare, cannabis has always been around the beauty section of the drugstore in some way or another. Hemp oil, produced from the Sativa seed, has often been included for its healing and moisturizing properties in many products throughout the years. Especially as a product targeted at those with dry or cracked skin. So when it comes to skincare, the legalization of cannabis simply indicated the next step in the process.

Beyond our pantries, refrigerators and beauty stashes, however, plenty of other products out there advertise cannabis as a valued part of their business. CBD oil bath bombs, for example, are one niche where marijuana is increasing in popularity, but other options have very little to do with how pot directly affects us, and instead are all to do with the industry surrounding marijuana itself.

The banking industry, for example, has seen significant growth thanks to creating specific accounts for the marijuana industry, with distinct fees and requirements. This product, sold directly to farmers and growers in legal states, is bringing in plenty of money for big banks and even offering the chance for new financial institutions to enter the arena. The packaging industry, too, views cannabis as an excellent way to produce more eco-friendly, practical packaging; another way in which marijuana news and legalization has caused exceptional industry growth.

For many products across North America, marketing their product under the cannabis banner is certainly not something to shy away from. With the industry only getting bigger and better over time, there’s never been a better opportunity to get in on the craze before it all levels out. From coffee to chocolate, skincare to capsules, cannabis certainly isn’t going anywhere anytime soon.

The post Alternative options: the products using cannabis as a selling point appeared first on Marijuana Experts.

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