Published on December 11th, 2021 | by Bibhuranjan0
5 biggest trends that will shape the marijuana industry in 2022
Marijuana is rapidly becoming more widely accepted in society and as a result, is now more mainstream than it has ever been before. It’s not hard to see why, with its therapeutic and recreational benefits, it’s easy to see why so many people are now starting to use this substance. However, one thing that is hard to see is what the future holds for the marijuana industry. Will it be taken over by big businesses? Will small businesses continue to lead the way? To learn more, here are 5 trends that are sure to shape the marijuana industry in 2022.
The marijuana industry will be worth $47 billion by 2022
Currently, the cannabis industry in the United States is worth $61 billion. This economic success comes as a result of legalization that is spreading as well as more research and studies being released that are shedding light on the health benefits of cannabis, more specifically CBD. With this new light being shed, the mass perception and stigma have changed and more and more people are starting to view cannabis in a positive light and are now more willing to experiment with consumption. Another reason for the success of this industry is the innovation and technology being developed in the industry, especially regarding consumption methods and products. In the past, joints and bongs were standard products associated with marijuana but now you can find dry herb vaporizers, dab rigs, topicals, tinctures, capsules, and even cannabis bath salts just to name a few.
Cannabis-infused products will grow to represent more than half of all sales in the cannabis market
You are spoilt for choice when it comes to cannabis consumption and you will now find a wide variety of cannabis-infused products on the market which appeal to everyone. From dab rigs to bongs, vaporizers, and pipes, online head-shops like Smoke Cartel offer a wide range of products that are just a click away, and they’ll be widening their offers in the following year for sure. A few cannabis products that are rising in popularity include:
- Cannabis oil: CBD oil is the most popular type of cannabis oil and it provides consumers with all the benefits such as pain relief, anti-inflammatory, etc, without the psychoactive effects which are why this product is so popular.
- Cannabis skincare and beauty products: Cannabis contains antioxidants that are good for skin texture and appearance. Combine that with the anti-inflammatory properties and you have the perfect ingredient for skincare and beauty products. CBD beauty products are growing rapidly in popularity because they help fight acne and promote skin hydration and overall clearer skin.
- Cannabis beverages: Every cannabis enthusiast loves edibles and now it is expanding to include drinks as well. You can now find CBD cocktails, beer, wine, and non-alcoholic beverages such as tea and water. You will even find coffee shops selling coffee infused with CBD to calm customers.
Marijuana tourism is predicted to generate over $4 billion in annual revenue by 2022
Cannabis tourism is a form of leisure travel that is done for the sole purpose of consuming marijuana in areas where consumption is legal. Tours include visiting cannabis farms, riding a party bus where guests smoke cannabis and indulge in other cannabis products. This form of entertainment is on the rise and includes a full experience of booking flights, staying in weed-friendly hotels, and visiting weed-friendly eating establishments. It’s a way to have fun and enjoy cannabis in a controlled environment.
Medical marijuana use will become legal in additional states
Different opinions between Senate members are presenting a massive problem regarding cannabis legalization on the federal level. In America, it’s the Democrats vs the Republicans and they cannot seem to agree. Governments have however made efforts to decriminalize cannabis and overall many states are supporting the legalization of cannabis. These states include New Jersey, West Virginia, Chicago, New York, and more. In these states, it is comparably easy to get medical marijuana if you have a specific state’s card, for example, a West Virginia medical marijuana card. Alabama and Connecticut are 2 states in the process of legalization.
Marijuana sales are expected to generate about $10 billion annually through taxes and fees
Legalizing cannabis seems to have positive effects on the economy and countries that have legalized the herb have managed to generate billions in taxes. Legalization also opens up the window for more employment opportunities within the cannabis community which also has a positive effect on the economy. These taxes can be used to fund further research on cannabis and the healing benefits of this plant.
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