Cannabis is poised to disrupt virtually every consumer industry, from food and beverages to consumer health and beauty, as well as services such as tourism, retailing and packaging – within ten years, every consumer will use some form of cannabis as part of their daily routine. But what consumer trends are underpinning it? What products are out there and what categories offer the most promise?
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The combined value of the of the markets that will be disrupted globally by cannabis stood at US$5 trillion in 2018. The cannabis market itself will be worth US$166 bn by 2025.
Cannabis is poised to disrupt virtually every consumer industry, from foods, hot drinks, soft drinks, alcoholic drinks to beauty, consumer health, tobacco, tourism, packaging and home & garden. Within 10 years, some form of cannabis will be a regular part of consumers’ daily routines.
Cannabis is most embedded in industries such as alcoholic drinks, where the lifestyle angle of THC consumption has the biggest potential to disrupt generations of social lubrication habits, heralding a future of alcohol-free intoxication where THC replaces ABV.
Wider consumer trends such as health and wellness, naturally functional, personalisation, mental wellbeing, sustainability, ethical living, experience more and indulgence are all playing a part in priming consumers for cannabis.
CBD products still have unbridled growth ahead, appearing in a wide array of products from ice cream to skin care, but are being replaced or at least accompanied by THC in recreational markets, leading to lifestyle products merging wellness and lifestyle demands in targeted low doses.
THC has spurred the rise of personalisation via sensorial branding, with mood attributes replacing strain names. Cannabinoids in tandem also with terpenes in specific combinations and doses target a particular mood state or sensorial pleasure, integrating physical and mental wellbeing.