Unexplored Trends in Cannabis
Could there be unexplored trends in cannabis? Sales growth in the CBD industry is sky rocketing, and the alcoholic beverage industry is sitting up and taking notice. Everyone is jumping on the band wagon in the Cannabis industry. Dispensaries are popping up everywhere selling oils and lotions, pills, and pain meds. They are in small towns and big cities as well as rural areas. Some are down-to-earth mom and pop store owners who find more profit in legally growing marijuana than beans and corn. It seems like everyday we read or see something new that is the hot item being promoted.
The newest thing to catch our eye is unexplored trends in cannabis in conjunction with alcoholic beverage companies which will soon top the list of new products. Cannabis sales in the US are expected to reach $16.2 billion this year. New reports show that it is expected that over $1 billion of that will be coming from alcoholic drink sales. The maker of Corona beer invested $4 million in US dollars with a marijuana producer as they proceed with move forward in the unexplored trends in cannabis.
Past studies shows that the America public is becoming more and more concerned with health and wellness and that 81% of cannabis consumers believe that cannabis is safer than alcohol. Many alcohol companies are willing to take the risk and invest in alcohol containing cannabis.
Unexpected trends in cannabis has its challenges
Despite talk of cannabis as a threat to beverage alcohol, industry leaders see opportunity in the cannabis beverage category. It is this writers belief that they face an uphill battle that could go either way. If statistics show that most cannabis/CBD users believe it is safer than alcohol, it will be a hard sale to convince them to convert to alcohol made with cannabis.
There are much deeper challenges they will need to overcome. Beverage companies can obtain licenses to become the dispensary or sell to dispensaries. CBD is a gray area because the FDA prohibits the use of CBD in food and beverage products.
CBD is used in Epidiolex, a prescription drug. And the FDA states that you can’t put drug ingredients in food. But, as with everything, there are loopholes. However, more products are entering the market, and the FDA only targets unapproved new drugs, which include CBD. This creates even more interest in the unexplored trends in cannabis.
The biggest challenge the alcoholic beverage industry will face is prices. How do you market a beverage with cannabis that cost $60 for a six pack to the same product without cannabis that is under $10 for a six pack? It will be interesting to sit back and watch this story unfold as the alcoholic cannabis drinks hit the market.
One has to wonder what additional unexplored trends in cannabis are out there. Current reports show an increasing trend in the food industry as well. As I do research on a regular basis I am seeing more and more edibles being offered in the form of gummies, brownies and cookies. Restaurants are offering signature dishes featuring CBD oil.
What the future holds in unexpected trends in cannabis
There are many other fields such as skin care, beard oils, lip balms, candles, soaps, etc. that constantly add new products as research of unexplored trends in cannabis continue. Some look at this as a “fad” or “trend”. History has had many overnight successes that don’t last long. But marijuana has been around for centuries and is not leaving any time soon. The more research that is being done in this field, the more we can expect new and exciting things to come.