Cannabis products are donning the shelves faster than ever, and there is more interest in the plant than ever before. The annual growth rate of the cannabis industry between 2018 and 2022 is sitting pretty at an impressive annual growth rate of 21%. With such a promising outlook, we wanted to see what else in store for 2021.
Cannabis Trend to Watch #1: Europe and CBD Regulation
2021 looks set to be an interesting time for cannabidiol (CBD) in Europe, as we can see a new show of CBD regulation across European borders. The European Court of Justice made the original verdict on CBD’s status some time ago, and since then the floodgates for the industry have been blown wide open. But not without some hesitation from certain countries, or confusing grey areas regarding the status of the natural plant compound’s legal sales. The European Commission looks set to maintain a steadfast position on CBD, and we now see that the European Union is taking on a new avenue for the CBD marketplace: frozen CBD Novel Food. Members of the European Union will be able to market their CBD products within full legality as part of the verdict from the European Court of Justice.
This has also come in perfect timing with the less-publicized UN vote to reschedule the cannabis plant into a safer category. Previously, it was just the CBD cannabinoid and the hemp plant that was rescheduled into a less dangerous category, so cannabis enthusiasts are celebrating this as a win.
But that’s not the only timely coincidence. The EU is also set to roll out Epidolex across the EU states. GW Pharma’s Epidiolex product is based on CBD and is both an over-the-counter product as well as a prescription pharmaceutical product. Europe’s CBD landscape looks set to boom in 2021.
And on the note of regulations and legalization, we have to mention that global legalization seems to be catching on like wildfire. This brings us to our second point in this list.
Cannabis Trend to Watch #2: The Legalization Wave Grows
The USA has been taking center stage with their wave of recent state-level legalizations, with more states joining the legalization movement in 2021. Illinois was one of the more recent states to join the party, and Illinois now has legalized cannabis in their state. But the cannabis legalization trend forecast for 2021 includes several more legislation changes in the making. Some states considered candidates for 2021 legislation to legalize cannabis for adult use included Connecticut, New Mexico, New York, Pennsylvania, Rhode Island, Texas, and Virginia, some of which (like NY) had already decriminalized.
Cannabis Trend to Watch #3: Growing Public Support
With the growing legalization sweeping across the globe in 2021, we see another parallel trend: public support. It is without a doubt that public support for cannabis is higher than it’s ever been. But where to from here? The internet has many downsides when it comes to information, misleading information to be precise. But, the internet also promotes information, and promotes individual research and thought. This could be one of the reasons that the overall narrative about cannabis has shifted dramatically over recent years- and it only seems to be gaining momentum. In 2021, we predict seeing a more educated public opinion on cannabis, and the plant’s potential applications.
Cannabis Trend to Watch #4: Creative Cannabis Products
With the onset of cannabis research and technology, we are set to see a more diverse range of cannabis products hitting the shelves. Not only a diverse range of the types of products but also a more in-depth analysis of strain-specific products.
Product development is likely to be influenced by more than just strain-specific innovation. It seems as though there is a steady stream of companies welcoming a more holistic standpoint and incorporating specific terpene profiles as well.
What does this mean for the consumer?
While the consumer should always be on the lookout for misleading marketing, these strain and terpene-specific products could come in handy. As researchers delve deeper into the plant’s applications, the products seem to be geared towards more specific applications as well.
Trend to Watch #5: CBD Shops, CBD Shops Everywhere
Another trend worth noting is the pop up of hundreds of e-commerce based CBD stores. While you’ll be forgiven for thinking that this will triumph over the more novel brick and mortar store, it’s not exactly the case. Research shows that there are an increasing number of Cannabis e-commerce stores but also plenty of brick and mortar stores popping up in areas where the laws allow it.
Cannabis companies seem to be growing from strength to strength. While this provides an even landscape for the industry, there is one thing to always consider before buying a cannabis product. And that one thing is possibly the most important of all: Quality. Always choose quality when considering what cannabis company to support. No matter the trend, do your homework on the independent lab reports to ensure you are buying a clean, safe product. Canzon offers third-party reports to back up all their products, come and have a look for yourself.