Here’s where the greatest growth potential exists:
Natural healing: Cannabis products soon will find a home on the shelves of health-food and well-being outlets in states where they’re legal. The natural-healing and naturopathic community already is aware of, and open to, the healing qualities of cannabis. But new methods of digesting or using these products will enhance the appeal. Lotions, creams, tablets, oils, patches and edibles are among hot product segments.
Vapor products: The vapor/electronic cigarette market is already strong and growing. For medical cannabis users, these devices will be especially effective and desired. Marijuana may be prescribed for arthritis, glaucoma, symptoms associated with chemotherapy, or a variety of neurological disorders that affect older patients. For those who have never smoked, the ease, portability and private nature of using vapor devices is appealing.
Food and beverages: Eating your cannabis will become increasingly popular for medical and recreational use. Cannabis blends are being baked, mixed and blended into boutique bakery-style products that eliminate the stigma of smoking pot. From gummies to smoothies, edibles and drinkables are a significant and growing part of the cannabis industry.
Machines and devices: In states where “grow your own” is legal, automated products are emerging that help recreational users cultivate their own blends. More lucrative will be product-manufacturing machines and devices that make product lines in stores or for distribution.
Hemp everything: While hemp, which is legal in all states, is a member of the cannabis family, it contains a less potent variety of THC (the psychoactive agent that causes the pot “high”). And while the number of products being made with hemp has been growing, cannabis’ legalization trend is fueling its popularity even further. New hemp products being developed as a replacement for environmentally damaging plastics are especially promising. From energy bars to hemp vodka, and from rope to furniture, the versatility and reliability of hemp is now being bolstered by greater acceptance. It’s riding the wave of the Reefer Money Madness trend.