The tectonic shifts created by the budding cannabis industry could radically reshape the geography of recreation and health, provide alternative pathways to relaxation and disrupt intoxication rituals. This briefing examines what product offerings, the ever-evolving landscape of occasions and the new age of retail experiences look like.
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Overwhelming maturity, generational shifts, rising health awareness and the ascent of mindful drinking as a driver of innovation and new occasions and rituals are already putting the alcoholic drinks industry under pressure. While cannabis has not yet been an integral part of this equation, the accelerating legalisation wave will increase such pressure.
Research collaborations, joint ventures and acquisitions already highlight the pioneering role taken by the alcoholic drinks industry as it spearheads activity in the emerging cannabis segment, creating significant business opportunities. From positioning to microdosing, and from appellations to branding, the parallels, synergies and symbiotic potential should be embraced sooner rather than later.
Cannabis can gain a competitive edge to establish itself as the ideal substance through tailoring offerings to specific demands and needs, focusing on a widening spectrum of cannabinoids, terpenes and their varied combinations, and ultimately mapping the endocannabinoid system to provide customised solutions.
Self-regulation by the cannabis industry, a widening spectrum of offers facilitating a shift away from an obsessive focus on high THC content, supporting third-party myth busting research, and investing in reliable and objective methods to minimise accidents will be some of the key ways to hit the ground running.