The year 2018 is a big one for cannabis. At the start of the year, a total of nine states in the United States will allow for open smoking of cannabis with a doctor’s letter. A total of 29 states allow for the use of medical marijuana.
These changes have significant changes to cannabis in the marketplace. This article shall outline three cannabis market trends that you should be aware of this year.
Colorado and Washington are the two states whose marketplaces are the most mature and legal when it comes to recreational cannabis use. Due to this, the prices of products at dispensaries has significantly decreased. For instance, concentrate prices are going down.
In Oregon and California on the other hand, flower prices are decreasing while concentrate prices remain the same.
As is noted in a report, this competition of product prices usually tends to decrease the prices for these products overall.
New Users in the Mix
It is inevitable that legalization will bring with it a great number of new users. These new users bring about habits and trait that are different from the current users.
The new users in this case are women aged 25 to 44. They usually look for cannabis strains and products that will help them explore different medical applications that will benefit them.
For new consumers trying out the edible market are looking for products with a low dosage that they can experiment with.
Variety of Products
With more dispensaries opening, the conception of cannabis being smoke is slowly being expanded into something more. New consumption methods are becoming available due to the number of new products being introduced.
Products like tinctures, creams, and capsules have made their way on to the market. With these, there is no need to simply smoke cannabis. Most users are looking for controlled doses or ones that bestow medical benefits without the buzz that usually goes along with it.
There are even patches that allow people to just place it on a specific part of the body for long-term relief. This is a growing trend that will continue develop as more methods are being discovered.
Through these trends, we’ve patterned our practice at Swiss Cannabis to better reflect the market and cater to people’s needs.
These three are not the only trends worth noting. Newer marijuana market trends are emerging like “catering to mood a person’s mood,” “the demand of variety,” “evolution due to consumer’s needs,” and many more.