Already one of the fastest-growing industries on earth, the cannabis sector has become a huge economic force in many countries where just a decade ago, the product was either illegal, unknown or both. In addition to an ever-expanding list of U.S. states, at least a dozen nations have eased up on their laws so that the production, importation, sale and use of these consumer items is an essential component of the local economies. Online on-demand delivery is becoming common for anyone who holds a valid medical marijuana card. For example, consumers who order medical marijuana in New York can get round the clock service without leaving home.
Online ordering for all cannabis related products has become the gold standard of customer service in the industry. Delivery service companies that can offer store to door transport of medical marijuana, edibles, CBD products and beverages cater to consumer demand at every point of the product cycle. Here’s a quick look at key facts about the hottest sellers for 2020.
Most market watchers believe that the biggest growth area in the entire cannabis industry will be in edibles. These treats, which contain anywhere from trace amounts to large quantities, along with a few different strains of the substance, are already on sale in Canada, several U.S. states and dozens of other nations. What’s the big draw for investors and consumers? For one thing, eating is a lot different from smoking, something many people refuse to do. Major markets can’t seem to come up with items fast enough to satisfy consumer demand. That’s why so many investors are setting their sights on companies that produce and sell edibles in addition to medical products based on the drug.
There have already been key partnerships between a few of the large beer companies and some of the cannabis producers to launch drinks that are suffused with either cannabidiol (CBD) or the psychoactive ingredient, THC. The first product launches of these drinkable products took place in 2018 but as more U.S. states are veering toward full legalization of recreational use of the plant, many people expect the beverage market to mirror what the edibles market is doing.
That could mean entire lineups of products like seltzers, coffees, teas, waters and specialty juices that contain varying amounts of THC and/or CBD. The former would likely be sold as a way to get high while the latter will most likely tout the soothing, relaxing sensation that CBD brings, without the typical high feeling.
Because cannabidiol (CBD) contains none of the psychoactive THC that gets users high, the market for a wide range of items containing the substance has already opened up and is reaching the billion-dollar mark in more than a few U.S. states. CBD brings its own list of benefits without any of the legal problems faced by some cannabis producers who focus on THC-infused products.
In any case, CBD goods are currently an Internet sensation. Consumers all over the world are stocking up on soaps, vape items, skin creams, vitamin supplement drops and more. Beauty and health goods are the main parts of the consumer economy that CBD has already had a huge effect on. Watch for this cannabis plant component to gain momentum in 2020.