New Cannabis Trends for 2023
We know that all about cannabis is in a rush lately, its legalization, popularity, new uses and products we make from marijuana plants and its derivatives — all are soaring and gaining steam. Can we predict what can happen to the cannabis industry? Let’s talk about marijuana trends for the nearest future.
New Cannabis Trends for 2023
We’ve gathered the most popular cannabis related topics on the internet and some experts’ opinions, and chosen the top factors that can accelerate the development of the cannabis industry and points of application for marijuana plants.
Coronavirus As The Major Factor
At first sight, COVID-19 has brought only crisis and sorrow. However, when giving it a second glance, all those challenges become possibilities.
Especially it is true when talking about cannabis:
- pandemic means restrictions, and lots of people cannot go to the favorite bar or club to have fun, while marijuana is available online, where it is legal;
- online healthcare services are quickly developing during COVID-19, which leads to increasing number of medical marijuana patients who get their MMJ cards easily and staying at home;
- medical benefits of cannabis have become one of the most popular subjects of research and discovered medical marijuana to lots of newcomers;
- lots of people have switched to cannabis as an effective and easy-to-get medicine for anxiety and depression. As we know, these mental maladies are increasing greatly during COVID pandemic;
- businesses and countries, in search of new sources of income, pay more attention to cannabis.
All these gave a positive impulse to the cannabis market, and its surge will not stop with the end of the pandemic.
New Laws In The US
This factor may play a key role in the cannabis triumph. Legalization of medical and recreational marijuana began long before coronavirus. Yet, in the recent couple of years the process has fastened a lot! During the presidential campaign, Kamala Harris had mentioned that her plans are to remove cannabis from the list of controlled substances. Lots of things are yet to be done in this way, but each year new states vote for cannabis friendly laws and allow its use and growing.
New Laws In Europe
Taking into consideration several facts:
- a novel decision of the highest European court that CBD is not an illegal drug;
- promotion of Epidolex on the European market;
- new regulations taken in Europe to make cannabis both a legal prescription drug and an over-the-counter product;
we can soon expect a spike in the cannabis market in Europe, too.
Growing Competition Between Global Cannabis Suppliers
With the shifting demand, countries and businesses start fighting to take the leading position among marijuana producers and suppliers. While the market is soaring, the United States and Europe cannot serve their needs without any cannabis import. Actually, the US is the largest importer of CBD oil in the world. The second one is Germany.
COVID-19 pushes politics to accept cannabis friendly regulations and at the same time it makes marijuana products very popular due to their safety, effectiveness both as a pharmaceutical and recreational drug, and accessibility online. This is why global cannabis suppliers are going to compete for new markets and customers. Which gives chances to new companies in this situation.
New Cannabis Business Strategies
In recent years, major companies have been investing heavily in cannabis production and trading, trying to conquer the rising markets all over the world. Cannabis economy has been inflated with easy money, which caused an overshoot in the global cannabis business. It became especially clear after the COVID-19 had taken the stage.
In this new situation, most of marijuana manufacturers and suppliers have been designing new strategies, which are:
- they decrease the number of employees;
- close unprofitable farms and stores;
- go online;
- aim their efforts at immediate profits.
Leading cannabis companies had left Africa and Latin America during the past couple of years and focused their attention on the emerging markets of the USA and Europe. This trend does not seem to change in the nearest future, and cannabis investments in North America will remain pretty lucrative.
Innovations In Cannabis Production
Dronabinol, or artificial delta-9 THC, has been a spotlight for top cannabis industries lately. The competition led to the price decrease, and many companies reshuffled their production capacities from deriving cannabinoids from weed plants to producing the man-made ones. This drug is successfully used in Europe for many health issues, such as appetite disorders, pain, nausea, etc.
At the same time, the US market of such products is still vacant, which promises lots of advantages for its pioneers. The US analogue of Dronabinol is Marinol, it can be legally prescribed for health related purposes all over the United States. However, before making any investments in synthetic cannabis, it’s better to wait until it is fully legalized, as for now you cannot even possess or use it without a doctor’s prescription.
Shifting research of marijuana active compounds caused greater awareness of the health benefits of CBD and THC. Along with it, it discovered lesser known cannabinoids for the public. To name a few, delta-8 THC is now on the rise, as it does not fall under the restrictions and has the same qualities as usual THC, but weaker. CBN and CBG are minor weed compounds that provide the same curative effects as CBD.
Global Changes
Positive news come from all over the world:
- after exiting the EU, the UK has implemented new regulations on cannabis and removed it from the list of illegal drugs;
- countries of South America also tend to accept the cannabis friendly laws, which makes them a promising cannabis market and cultivation area;
- some countries in Africa are already successfully farming marijuana and hemp for export;
- East Europe also follows the modern trend and wants to take its place in the global cannabis industry, too.
Final Thoughts
As you can see, cannabis will stay on the rise. As a medicinal and adult-use product, it is still growing, and this trend will not change soon. Also, there are lots of uses of cannabis plants that are yet to be widely accepted and develop their own markets. The global cannabis trends are on the surge, which promises the growth for the cannabis industry in 2022 and beyond.
