8 Marijuana Leaders Discuss Emerging Patterns in the Industry
I have the terrific honor of experimenting with lots of items and visiting lots of dispensaries and growing websites, and can find emerging trends, however wanted to see what a few of the leaders in the market are believing, also. I asked industry consultant Andrew DeAngelo, Peak Extracts’ Katie Stem, WAFBA’s Morris Beegle, Aster Farms’ Sam Ludwig, and Weed Grub’s Mike Glazer & Mary Jane Gibson, AlpinStash’s Danny Murr-Sloat, and performer Laganja Estranja to share their insights with me.
Here’s what they had to say …
Warren Bobrow=WB: What trends do you see emerging in cannabis?
Morris: It’s going to be a wild year for the cannabis market, all markets for that matter with the global coronavirus pandemic, however I see upsides for the hemp and CBD markets.
Sam Ludwig: We see a movement towards sustainable brands.
We are currently seeing an increased need for sustainable marijuana. Aster Farms is vertically integrated, growing our own marijuana, so we can supply absolute openness to our consumers and control quality from seed to sale.
The cannabis market will continue to be strangled by taxes and regulations, and by the federal government’s failure to legalize it. On the flip side, there will continue to be great people at organizations like Root & Rebound and Last Prisoners Task working hard every day to change things for people affected by the racist War on Drugs.
Katie: There will be more mainstream CBD companies, and debt consolidation of the market to consist of more vertically integrated multi-state operators that can withstand market volatility. Little cannabis business, such as ours, have shown durable in times of crisis because of our little pool of workers, making layoffs unneeded as we weather the storm of a global pandemic. Remaining in the market for several years has actually likewise allowed us to make the most of production efficiencies and maintain a variety of months of item in stock, enabling us to stop briefly normal production in order to pursue expansion objectives. As the industry grows it will be necessary to take advantage of economies of scale and automation in manufacturing. In addition, a main objective ought to be to consolidate administrative jobs in between multi-state operators in order to get rid of redundancy, and also minimize the number of jobs carried out by each person in a small/growing company. Between automation and pooling of administrative resources, we have estimated a minimum of a 40%reduction in necessary personnel. Having a multi-state existence will also permit more durability as the marketplace and regulatory environment shifts in individual states. A more established market such as Oregon could buffer one like Michigan, where licensing and supply is still very unpredictable. In the in 2015, although there are thousands of brand-new CBD start-ups, there are some clear front runners that will establish themselves as top performers in the market. It will be difficult to take on recognized CPG brands that have already taken shelf area in the supplements, food or beauty sectors; however, I think there will be a place for those who can establish their competence with cannabis/hemp as a differentiator.
Laganga: I think the biggest pattern we saw come out of the marijuana industry last year was the development of LGBTQAI Pride Month items. My collaboration last year with Fruit Slabs not only expanded the brand’s taste profiles, but it also was offered year around.
Danny: An increasing pattern that we are seeing is an increased need for craft/connoisseur products. As cannabis, along with the knowledge of what craft marijuana suggests, becomes more available, we’ve seen a growing class of informed consumers.
Andrew: Delivery, drive through, curbside pick-up transactions– governments ought to support and encourage this behavior. Legalization efforts will be stalled in the short term by coronavirus, however might get momentum in the medium term as tax profits plummet– it’s difficult to object to a cannabis dispensary in your neighborhood when there’s no cash to money the school within it.