Of course, 2021 was a great year for the industry, with continued legalization word-wide, including places like Malta and Thailand. 2022 is set to see more of that, and some cannabis predictions for exciting new trends and opportunities are ahead.
It’s no secret that the legalization and decriminalization of cannabis are trending favourably. With more focus on decriminalizing cannabis and expunging criminal records for nonviolent cannabis offences. But the move for it to be legalized federally might be a slow one. Even with legalization, the state-to-state variations in regulations for everything from cultivation standards, to packaging and transportation will make marketing country-wide a difficult proposition for most cannabis businesses.
The businesses that will grow and thrive will be ones that embrace trends and opportunities that are on the horizon for 2022 and beyond.
Cannabis has now more than ever continue to be mainstream. The medical uses for cannabis in terms of stress reduction, mental health and so on, have built up markets that might have otherwise looked to more traditional pharmaceutical options. That will only continue to be true moving forward into 2022.
There is an interesting portion of this new mainstream market that is interested in the therapeutic effects of cannabis but not in the traditional consumption method of smoking. Wanting to avoid the traditional smoking methods will make organic, ethically sourced and developed cannabis products more and more the norm.
Technological advancements are going to continue to improve, from vapes that developers can routinely update, to QR codes on product packaging, cannabis tech will continue to get more intelligent and innovative, on a level with all other smart household devices.
Products & Services
Cannabis Drinks: Expect to see canna-beverages exploding in the next year. Innovative technologies in the cannabis industry continue to improve emulsion techniques and nanotechnology. With more individuals looking for non-alcoholic choices, this is a great alternative, filling that void as a lower-calorie, non-hangover-inducing option.
Consumption Lounges: One of the most exciting cannabis trends of 2022, is the rise in the number of consumption lounges and, as a direct result, the growing profile of cannabis in the tourism sector. Nevada has passed legislation allowing adults to eat or smoke cannabis in consumption lounges and in doing so has become the eighth state to legalize pot lounges. In mid-2022, we can expect to see the first Vegas consumption lounges opening.
While consumption lounges are mostly rarities and tend to be slow to open, they will set the stage for breaking down some of the boundaries the industry faces today.
Last year had seen some strong tailwinds with increased talk of federal legalization, more states legalizing adult use, and increased revenue for multi-state operators along with smaller cannabis companies. Strong headwinds included tamped-down talk of federal legalization and stalled banking reform for the industry in Congress. Cannabis sales are only predicted to skyrocket, so take that with a grain of salt. The fact is, cannabis flower holds more than 45% of the total market sales of cannabis products, and this is terrific news for cannabis investors.
The future of cannabis in 2022 is looking bright, and as we’ll continue to sit by the sidelines and wait for more advances in the cannabis industry, wherever they can happen. Until next year, what are some of your predictions to come? Let us know in the comments and follow us at @CannaLifeNet