Today’s generation is aware of the therapeutic benefits of cannabis products. The awareness led to widespread popularity and extensive usage. Earlier, the global cannabis market size reached a market valuation of USD 43.72 billion in 2022. Now, it is expected to reach USD 444.34 billion by 2030, with a CAGR of 34.03 % in the forecast period. The adoption of BC Cannabis Products is evolving with the latest trends.
In this blog post, we will discuss the current trends that have the potential to positively impact the future of cannabis;
Cannabis Trends to Explore in 2024
New Cannabis Products Offerings
Innovation is the only thing that keeps attracting customers and drives product demand. In adult-use states, approximately 39% of potential consumers are open to trying cannabis within the next six months. However, only 18% are interested in trying traditional smoking methods. Hence, the BC Cannabis product manufacturers and retailers have come up with a wide variety of product forms. For example, edibles, gummies, topicals, and beverages. These are beneficial for consumers who are looking for alternatives to smoking.
Adoption of Sustainable and Eco-Friendly Cannabis Practices
As the global cannabis industry is rapidly growing, so is its environmental footprint. The cultivation processes of cannabis products are labor-intensive and consume significant resources. This is why the industrial players are focusing on the adoption of sustainable and eco-friendly practices. They are focusing on minimizing their carbon footprints for a greener approach. Companies are also initiating recycling programs for plastic-based cannabis products like vapes. This improvement in cultivation practices is currently the trend.
Development in Medical Cannabis, Research and Education
As more and more states are legalizing cannabis consumption for recreational and medical purposes, the research and development of BC Cannabis Products is highly progressing. Awareness and education are provided to make target consumers understand its medical properties and potential benefits. With the growth of research and reputable studies, medical professionals and patients are becoming more receptive to considering cannabis as an alternative treatment option.
Personalized Cannabis Experiences
Consumers always prefer to seek a personalized experience when engaging with a cannabis brand. Business owners are offering educational guidance about their product range. They prioritize the consumers’ needs when assisting them with product selection. Moreover, shoppers prefer brands that resonate with them rather than receiving a generic sales pitch. In addition, it involves providing a diverse selection of products to meet different needs, including various price points, unique options, and custom choices.
Role of Millennials and Gen Z in the Cannabis Market
Currently, the millennial age group is considered the largest demographic of cannabis consumers. It captures over 46.2 % of all spending on the cannabis product. On the other hand, Gen Z is the rapidly growing group of cannabis consumers, all set to dominate the Millennial market share. Every year, their share of cannabis sales is increasing by 11.3%.
This signals their potential to become major industry spenders in the market. This demographic has grown because of the legalization of cannabis in various regions. In addition, it is likely to advocate for its legalization in remaining regions, too. Hence, the continued growth and support from Millennials and Gen Z suggest a significant impact on the cannabis industry’s future.
Wrapping It Up!
The above discussed are the promising trends that are all set to drive the market of BC Cannabis Products in the future. Industrial players and retailers must stay updated with the trend to offer the best to the consumers. Shop from BC products HERE
