Cannabis saw legalizations, product innovations, and more in 2022. These 2023 cannabis trends could be even bigger.
While the last few years have thrown challenges at the cannabis industry, it’s still projected to experience rapid growth in 2023. Part of this growth comes from expanded legalization across the states, research and product innovation, and even just the addition of more informed consumers.
Read on and discover how these factors will influence upcoming cannabis trends in 2023.
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Canna Beverages Will Enter the Mainstream
Cannabis-infused beverages have been a niche market, but their popularity is projected to continue to grow quite a bit over the next few years. While beverages have often been the smallest segment of cannabis consumption, they also have had the fastest growth rate over the last several years.
Part of this trend has to do with emerging technologies that make it easier to create high-quality products with THC, CBD, and various cannabinoids. In particular, water-soluble cannabinoid concentrates and water-soluble terpenes have streamlined the manufacturing process for shelf-stable beverages.
Consumer interest in these products has only continued to grow. Diana Eberlein, vice president of sales and marketing at Sorse Technology, told The Drum, “We’re going to continue to see consumers seek out [cannabis-infused] beverages because they’re socially acceptable; they can replace your glass of wine at night or your beer and they eliminate hangovers.”
Low-Dose Products Appeal to New Cannabis Consumers
Low-dose cannabis products are expected to explode in popularity among several different product types.
Drew Hathaway, the senior scientist at Caliper Foods, told BevIndustry, “On the THC side, many of the newer beverages now have lower THC dosages than the early market entrants in order to provide a more desirable flavor profile and a sessionable experience for the consumers. These lower dose THC beverages provide an ideal trial for new cannabis consumers, as drinking them approximates the familiar experience people have with enjoying alcoholic beverages.”
While edibles aren’t often seen as an equivalent swap for alcohol, new cannabis consumers also find them more approachable. JC Market Research found that “Producing low-dose edible products for consumers who want medical cannabis without psychoactive effects represents one of the biggest opportunities for manufacturers. Additionally, because micro dosing enables controlled recreational consumption, low-dose edibles are the ideal product line to draw new customers into the cannabis market.”
More CBD Products in the Health and Wellness Market
While brands must toe a careful line when it comes to therapeutic claims, many wellness brands are branching into CBD and many CBD brands are expected to expand into the wellness market. Considering the continued surge in demand for wellness products since 2020, this makes a lot of sense.
CBD has already been pivotal when it comes to making new consumers more comfortable with alternative wellness products. That’s why CBD already has a respectable foothold in the US health and wellness market. Now, more brands are looking to leverage consumer familiarity with CBD to provide additional products that serve a variety of needs.
Considering the difficult regulatory hurdles these products must accommodate, however, it’s very possible that mood-management products will make up the majority of the new CBD wellness products.
One report states, “There is a noticeable increase in the use of CBD products to unwind, de-stress and relax as well as for medical uses. Given how modern life is right now, people are increasingly looking for ways to lower stress and anxiety that won’t impact their health. This attitude should be embraced. Traditional ways of relaxing typically include alcohol or drug use, both of which can have negative outcomes. The ride of CBD as a relaxant offers major benefits over those and we think it’s something that will gain traction as understanding increases.”
Consumer Familiarity with Terpenes and Other Cannabinoids Will Grow
Even consumers who don’t purchase cannabis products have likely heard of THC and CBD. Maybe they don’t know all the details about them, but these cannabinoids are essentially the stars of the cannabinoid show. In 2023, however, other cannabinoids (and even terpenes) are expected to step into the spotlight.
As more states move towards legalization and as Millennials and Gen Z gain more buying power, the cannabis market can expect more informed consumers. These are consumers who are more familiar with various aspects of cannabis, including terpenes and additional cannabinoids outside of CBD and THC.
Even Rolling Stone has predicted that “Consumers’ interest in learning more about the plant will prompt wider industry discussions on the impact of terpenes, cannabinoids and other properties.” It’s more than just consumer interest though. Additional research into these compounds means manufacturers are more aware of their product applications.
Cannabinoids like CBN, THCV, CBG, and CBC, all have unique properties that may provide unique solutions for consumers and even cost-savings for manufacturers. For example, CBC is easier to produce since it’s present in higher quantities.
We Expect Big Things for Cannabis in 2023
While the practical applications for our terpenes extend beyond cannabis, our passion for this science was birthed from the cannabis industry. We genuinely want to see a thriving and successful cannabis industry, so we’ll always be keeping an eye out for important industry news and trends. Follow us for all the latest updates.