Eight Cannabis Leaders Discuss Emerging Patterns in the Industry
I have the excellent honor of attempting out many products and going to many dispensaries and cultivation sites, and can spot emerging patterns, however desired to see what some of the leaders in the industry are believing. I asked market expert Andrew DeAngelo, Peak Extracts’ Katie Stem, WAFBA’s Morris Beegle, Aster Farms’ Sam Ludwig, and Weed Grub’s Mike Glazer & Mary Jane Gibson, AlpinStash’s Danny Murr-Sloat, and entertainer Laganja Estranja to share their insights with me.
Here’s what they had to state …
Warren Bobrow=WB: What trends do you see emerging in cannabis?
Morris: It’s going to be a wild year for the cannabis industry, all industries for that matter with the global coronavirus pandemic, but I see benefits for the hemp and CBD markets. I think since of the existing scenario that more emphasis will be put on health and wellness, eating good foods, and taking dietary supplements. If you do not wish to get ill, consume well and look after yourself. I see hemp superfoods and supplements that include CBD, CBG, complete and broad spectrum extracts will find their method into more and more peoples diet plans over the coming months and years.
Sam Ludwig: We see a movement towards sustainable brands. As the industry develops and the consumer base broadens, the average user will be more critical, caring about who, where and how the marijuana products they spend their money on are produced. Organic, clean and natural. That is what people want.
We are already seeing an increased need for sustainable cannabis. Aster Farms is vertically incorporated, growing our own marijuana, so we can offer outright openness to our clients and control quality from seed to sale.
The cannabis industry will continue to be strangled by taxes and regulations, and by the federal government’s failure to legislate it. On the flip side, there will continue to be great individuals at companies like Root & Rebound and Last Prisoners Job working hard every day to change things for individuals affected by the racist War on Drugs.
Katie: There will be more mainstream CBD companies, and consolidation of the market to include more vertically incorporated multi-state operators that can stand up to market volatility. Small cannabis business, such as ours, have actually proven resistant in times of crisis due to the fact that of our little swimming pool of workers, making layoffs unnecessary as we weather the storm of a worldwide pandemic.
Laganga: I believe the biggest pattern we saw come out of the marijuana market last year was the creation of LGBTQAI Pride Month items. My cooperation last year with Fruit Pieces not just expanded the brand’s flavor profiles, but it also was offered year around.
Danny: A rising pattern that we are seeing is an increased need for craft/connoisseur items. As cannabis, in addition to the knowledge of what craft cannabis indicates, becomes more accessible, we have actually seen a growing class of educated consumers. When restriction ends in a provided state, there tends to be a rush to buy any kind of product. As soon as this novelty subsides, individuals desire an item that tastes excellent, looks excellent, and something that’s developed with ethical and thoughtful practices by a company they can think in. Integrate this with the development of companies whose sole focus is a quality craft product, you have a recipe for success in this sector of the market. This is amazing, due to the fact that craft companies are usually small businesses, and in a market progressively controlled by corporations, any location which prefers the mommy and pop services is terrific.
Andrew: Delivery, drive through, curbside pick-up transactions– governments ought to support and encourage this habits. In-store experiences will alter with social distancing, no display cases and plexiglass shields everywhere. Edibles and non-inhaled types of marijuana will grow in appeal. Consumption lounges in legal states will be voluntarily shut down until after the pandemic. Legalization efforts will be stalled in the short term by coronavirus, however might gain momentum in the medium term as tax profits plunge– it’s difficult to challenge a marijuana dispensary in your community when there’s no money to fund the school within it. And, the Great Economic downturn opened up medical markets all over California as municipalities rightly chose they had bigger fish to fry than prohibiting weed shops. It’s very tough to anticipate a future from the existing viewpoint on the curve of the crisis, but I see these trends holding till the mid to late summer.