Euromonitor's Head of Tobacco Research, Shane MacGuill, reflects on the 2023 International Cannabis Business Conference in Barcelona, at which he hosted a panel discussion with industry veterans.
Cannabis drinks, still relatively niche and only accounting for a low share of cannabis sales in the markets where they are available, hold the potential to disrupt established drinks ecosystems and the traditions surrounding them, starting with alcoholic drinks.
In this article, we identify eight of the next most significant prospective markets for cannabis in 2023.
Outcome-orientated, need states positioning is more and more visible across fmcg industries, as brand owners expand the framework into an increasingly divergent range of categories. Consumers are increasingly primed to focus on the desired outcome or intention of their consumption, with nuance, and are beginning their purchase and consumption journeys working back from this point.
The rich cannabis history and culture in Barcelona make it the perfect backdrop to the International Cannabis Business Conference which is being held on March 9, 2023. They have partnered with Spannabis, Europe’s top cannabis expo, to form a super-conference that is a must-attend for anyone that is serious about succeeding in the emerging cannabis industry.
As cannabis starts to appear in the headlines around the world, both consumers and companies have started to show interest in experimenting with cannabis products.
In 2022, Euromonitor researched the Japanese cannabis market for the first time. While only in its initial stages, there are high growth opportunities, particularly among health-conscious Japanese consumers, given inherent demand for better sleep and pain relief.
What are need states, and why do they matter? Read on to understand the concept, its impact on product development, and crucially, why it cannot be ignored.
CBD + Hemp have been a big topic in recent years and especially lately as the industry keeps up with legislations and looks to further regulate the market. It is important to be on top of the latest news and come together to move forward and grow within the industry.