Almost everyone in the cannabis community is trying to figure out what the next top industry trends are, mainly so they can capitalize on them. For investors and businesses, this is exciting news because the cannabis industry seems to be destined for plenty of great things this year. Not so long ago, the world primarily associated cannabis with a counter-culture of “outcasts” and “hippies,” but today the industry is gaining acceptance across various countries around the globe.
As acceptance is spreading across modern-day society, cannabis is blossoming into a viable business option as well. Currently considered a significant industry in the United States as evidenced by the healthy sales of medical marijuana and products containing CBD. As we watch this gradually growing acceptance of the once illustrious herb, a list of trends is beginning to form, which will, no doubt, be a part of this year’s conversations regarding cannabis and product development.
With that said, here are some of the top cannabis industry trends for 2019.
Cannabis Might Be in the Menu
Cannabis infused edibles are not a new concept but ordering CBD inspired items from the menu of your favorite dining establishment, is. A report on 2019 restaurant trends states there is a growing interest among consumers from all demographics in food and drink items containing cannabis. In fact, many restaurants are already starting to take notice of this trend.
Using CBD oils and extractions from cannabis and hemp, restaurant owners are coming up with ingenious ways to infuse menu items. From coffees and teas to candies and desserts, you might not see your favorite dining establishments include CBD marinated wings on their menu right away but expect some of your local cafes and bakeries to start serving CBDs in some form, soon.
CBD Will Gain More Attention and Steam
While the industry is aware of the many health and wellness benefits of CBD, as education and information sharing continue to spread to the potential consumer, expect the market to experience some significant increases. CBD is usually sold as oil, ointment drops, and cream, and has even been referred to as the new “it” supplement because of all its perceived health benefits.
Although the demand is increasing for the popular cannabinoid due to its lack of impairment, the current laws concerning cannabis are still murky at best. However, the effectiveness and rising popularity of hemp-based CBD products currently have lawmakers looking at new potential legislation regarding CBD production and sales.
Cannabis Will Become a Good Investment Choice
Cannabis might soon become an excellent investment choice as legalization continues to expand. Several big-name brands have already started to expand their capabilities and are seeking to move into brand new market sectors. With the demand for marijuana products on the rise, in both domestic and international markets, investors should take notice of the stocks in the cannabis sector which are also on the rise.
By reviewing a list of dispensaries, investors can evaluate dispensary performance and then compare with an online seed bank comparison to verify strain prices to get an idea just how lucrative an investment in cannabis could become.
Recreational Cannabis Will Challenge Alcohol Popularity
Many of us are quite aware of how cannabis is continuously compared to alcohol. There is also a growing curiosity about using recreational marijuana as an alternative to alcohol. In late 2016, a large study commissioned in California evaluated cannabis use in the state. This study revealed that at least 51% of millennials consider replacing alcohol with cannabis.
Additionally, their reasons for doing so are quite surprising, to say the least. Reasons reported include marijuana’s perceived health benefits and fewer side effects (low calorie, no hangover).
Traditional Businesses Will Recognize the Validity of Cannabis
Banking, insurance and other services which were once unavailable are now starting to open themselves up to cannabis businesses. Growing legitimacy and increasing acceptance are gradually making cannabis a trusted business partner. Even investors who initially played it safe are now starting to commit fully to the industry. Endowments, insurance, and other large institutional funds have also expressed an interest in investing in cannabis in the United States, but to date, only a few are taking the plunge.
Medical Marijuana Will Be in High Demand
With legalization widespread, 2019 might also see an increase in the demand for medical cannabis. Patients who have used medical cannabis have felt its impact first hand. As a result, plenty of companies are starting to get into the trend by developing cannabis-based pharmaceutical drugs. This will ultimately expand the plant’s role in the health industry moving forward, and countries who are about to legalize should expect a rise in the demand for medical cannabis.
Expect International Cannabis Trade Legislation
Canada, Israel, and Germany are already eyeing the global potential of international commercial cannabis trade. As laws continue to change to support the industry, cannabis products from all over the world will start to proliferate wildly. While we may not be able to buy an ounce of Afghani actually grown in Afghanistan on US dispensary shelves any time soon, there is a genuine possibility cannabis extracts from Canada or Israel could be on the horizon.