The world is currently experiencing a marijuana boom. In the past decade, Google Trends has recorded a massive increase in marijuana and CBD-related searches. The growth of these search requests has exploded not only over search engines but have also spilled onto social media platforms like Instagram, Twitter, and Reddit. Moreover, these trends are not only prevalent in and around North America but are also picking up all around the world!
Naturally, these indicators define how people’s relationship with weed has changed over time. It is a reflection of their interests, preferences, and consumption patterns. To track how the perception of society towards weed and weed consumption has changed, we have compiled data over the past decade.
So let’s have a look!
The Growth of the Marijuana Market in Numbers
According to New Frontier Data, legal marijuana sales are expected to rake up sums that are as high as $23 billion by 2025 in the US alone! Here’s what we know about the growth of the marijuana market in the last decade:
- 2016 was the most defining year as investments in the legal cannabis industry touched $477.96 million.
- Flower or plant-type weed accounts for 54.21% of cannabis distribution within the American market. On the other hand, candy makes up for 44% of sales in edibles.
- The past decade has seen a spike in about 18 million Americans who have tried marijuana at some point in their lives.
- About 12% of the adult US population consume cannabis on a daily basis, while 86% believe that marijuana has valid medical use.
- Nearly 55% of the population believes that it is high time to legalize cannabis and tax it like any other commodity.
- Americans have spent nearly $4.1 billion to purchase marijuana.
Trends of the Decade Gone By
Now that it has been established that the weed market is flourishing, it is time to take a look at how the weed consumption patterns have changed in the last decade:
1. Social Consumption
With several states taking active measures to legalize weed, one can witness the opening up of several legal cannabis social clubs. Even though some users continue to prefer weed delivery Sacramento and smoking in the quiet of their homes, there has been a growing need to make it a social event. Approximately 71% of cannabis consumers confessed to engaging with weed for social and recreational means.
Unlocking legal public consumption may be on the cards, but that is something that is reserved for the future.
2. Diversification of Weed Consumption
Consuming pot is no longer restricted to lighting a blunt or smoking a joint. There has been not only a demand but also an increase in the various innovative methods to consume weed. In addition to gummies and other edibles, the rise of sippable cannabis has been stellar.
The cannabis beverage market, which produces weed teabags, coffee shots, marijuana powder mixes, and cold kombucha, will continue to grow. Pot-infused drinks like beer and Chardonnays are also slated to gain more popularity.
This demand for different forms of cannabis will also lead to brand development and differentiation as the preference for certain products from a particular manufacturer will grow.
3. Demand for CBD
In the past decade, the growth of CBD and CBD products has been phenomenal. CBD is a compound that is derived from cannabis and hemp. Unlike THC, which possess psychoactive properties, CBD does not give a high.
As a result, there has been a marked increase in the popularity of CBD and CBD products such as oils, tinctures, topicals, and edibles. It is deeply penetrating the health and wellness industry and is being received with open arms. People are turning to CBD to sharpen their cognitive function, deal with health issues, look younger, or merely to relax.
The popularity of CBD has reached such a pinnacle that it may soon branch out as a standalone industry with its fair share of advocates!
4. Shift Towards Convenience
Another remarkable weed consumption trend points towards the emergence of convenience. Weed users are skipping the elaborate contraptions and devices to get a quick fix. The younger generation is now looking for something that is more fuss-free and easy to use (think vaping pens!)
In addition to convenience in terms of usage, there has also been a shift in terms of the convenience of accessibility. The last decade has seen the rise of weed delivery services that can land your pot right at your doorstep! It appears that everyone is taking advantage of discrete online shopping to get some good stuff.
A quick Google search on marijuana delivery Marin will give you a long list of legal delivery service providers to meet your various needs!
5. A Steady Decline in Prices
One may think that people would be more willing to shell out big bucks to get high-end, top-notch herbs. However, the trends point in the opposite direction. Price continues to be the primary driver for product choice, and consumers are looking for something that is affordable.
Further, as the market for cannabis heats up, and more and more players enter the market, there has been a drop in the prices. It is evident that this will have a cumulative effect that will result in a positive supply-demand feedback loop.
Conclusion
Globally, weed consumption has grown by a whopping 60% as people are smoking 130% more than they did in the last decade. Clearly, these growing trends point towards a favorable condition for the marijuana market.
What is more exciting is the fact that these trends have successfully laid the foundation for the increased growth of the industry. Thus, the future indicates an exciting time for all weed enthusiasts.
The only possible deterrent to this industry could come in the form of black markets, abuse, and youth smoking. However, with close monitoring and stringent laws, it may be possible to tackle this menace before it emerges as a grave issue.
For the decade to come, those in the cannabis distribution services can gear up to keep up with the rising demand.