More than half of cannabis consumers in states where weed is legal get their stuff at the store, according to newly released survey data.

The survey, which comes via New Frontier Data, found that “52% of current consumers say their primary source is a brick-and-mortar dispensary and only 6% say their primary source is a dealer” in states where adult-use marijuana is legal.

According to the survey, “43% of [all] current consumers say that a brick-and-mortar dispensary is their primary source of cannabis, compared to 34% in 2022,” while 10% “of current consumers say that their primary source is a dealer, down from 13% in 2022.”

“Interestingly, 29% of current consumers in illicit markets say that their primary source is also a brick-and-mortar dispensary compared to 17% who say they use dealers. This means that, even in illicit markets, consumers are travelling (sic) across state lines to obtain cannabis from a regulated source, as 42% of consumers say they have sourced cannabis from out of state,”Dr. Amanda Reiman, the chief knowledge officer at New Frontier Data, wrote in the survey’s analysis said.

Dozens of states, plus the District of Columbia, have legalized recreational cannabis for adults, a wave of normalization that has made the weed shopping experience much like a run to the drug store or supermarket.

As Reiman put it: “In many ways and in many places, cannabis has become another errand to take care of on the way home from work.”

“It is not just cannabis sourcing that is beginning to mimic traditional commerce, the reasons that consumers give for choosing a particular source are also meeting the mainstream. The top reasons consumers give for choosing a particular brick-and-mortar dispensary are product quality, product selection, price, knowledgeable staff, and convenient location. These are the top reasons people choose grocery stores (location, price, product selection, product quality, and friendly and knowledgeable staff),” Reiman wrote. 

“One remnant of prohibition that comes out in the sourcing data is the reason that consumers give for choosing the same businesses over and over again, which is familiarity. This was cited by 58% of consumers as the reason they keep coming back to the same store. Almost 20 years ago, I conducted a study of medical cannabis patients and asked this question about their go-to medical cannabis dispensary. Familiarity was also the top reason given. During prohibition, acquiring cannabis was a process with rules. What you could say, what you couldn’t, how to properly pay and contact your dealer, all with the risk of arrest. Knowing exactly what the rules were and what was expected of you was a part of the process. In some ways, that anxiety has held on into legalization for many consumers, who, even though they are purchasing in a legal market, may still feel a sense of doing something wrong and needing to adhere to specific protocols. As the legal market matures, I expect that familiarity will become less important and that the other reasons given for loyalty (convenient location, knowledgeable staff, and product selection) will become more important to consumers.”

Reiman added: “The number of consumers sourcing from brick-and-mortar dispensaries will continue to rise as more legal markets come online, and even those in illicit markets will have greater access to legal stores. Like other areas of commerce, location, product selection, and staff will drive dispensary business, and consumers will relax into this new reality of cannabis as a consumer-packaged good.”

The post In States Where It’s Legal, Most People Get Their Weed From the Store appeared first on High Times.

The post In States Where It’s Legal, Most People Get Their Weed From the Store appeared first on Paradise Found.

A new report called Cannabis Consumers in America 2023: Part 1 was recently release by New Frontier Data on May 2. The study analyzes a wide variety of trends and demographics of the modern cannabis consumer.

According to New Frontier Data CEO Gary Allen, more than 42% of adults have used cannabis and say that they will use it again. “Cannabis consumers are diverse with users spread across age groups, genders, economic brackets and political affiliations,” said Allen in a press release. “With 42% of U.S. adults having used cannabis and likely to do so again, and another 15% expressing interest in trying cannabis in the future, acceptance and receptiveness continues to grow, creating massive opportunities in both new and emerging markets.”

The survey sample size included 5,534 participants, which was broken down into 4,358 cannabis consumers and 1,176 non-cannabis consumers, who were surveyed in Q1 of 2023.

The survey found that 37% of U.S. adults are considered to be “current consumers” who either consume pot annually and plan to do so in the future, while 30% of Americans have never used pot, and don’t intend to. Additionally, 15% of Americans have never tried cannabis but are interested in doing so, and 13% are former consumers who no longer partake.

New Frontier Data also published a 2022 analysis of American consumers. In comparison, the number of current consumers increased from 39% in 2022 to 42% in 2023. For those who have never used cannabis and don’t intend to, the number dropped from 34% in 2022 to 30% in 2023. 

The study also reviews results from participants of different age ranges being asked about their past month of cannabis use between 2017 and 2021. Since 2017, the percentage of adults between 18-20 has decreased by 8% and increased by 20% for those 21-25. Some of the biggest increases in that four-year period included adults ages 65+ with a 96% increase, and adults ages 40-44 with a 64% increase. Across the board, all age groups increased significantly, with the exception of the 18–20-year-olds.

Approximately 74% of people in the U.S. live in a state with some kind of legal framework, and 48% live in an adult-use state while only 26% reside in a state with only medical cannabis.

In terms of product popularity, 2022 data from legal cannabis markets show that flower still dominates most product share of sales with 43%, followed by vapes at 29%, edibles (including beverages) at 11%, and extracts at 9%. Tinctures, topicals or “other” all reflect 1% or less of product share.

The race or ethnic identity is mainly broken up between white (63%), Hispanic/Latinx (14%), Black (14%), Mixed/multi-racial (4%), Asian (3%), and Other (2%). Currently, a majority of consumers are men at 54% and women at 46%. 

Participants showed that 70% of consumers use cannabis to target a specific objective. A majority of consumers, about 83%, use cannabis for “unwinding (relaxation, stress, or anxiety)” and 61% use it for improved sleep. Most consumers use cannabis while watching videos, television or movies at home (56%), listening to music (52%), sleeping (45%), browsing the internet (37%), eating (36%), spending time with family/partner (35%), socializing (33%), playing video games (32%), and doing housework or chores (30%). (Under 30% includes activities such as cooking, having sex, spending time in nature, and drinking alcohol.)

Most medical cannabis consumers use it to treat diagnosed conditions such as chronic pain (46%), migraines (21%), PTSD (17%), and osteoarthritis (10%). The average consumer typically uses cannabis for symptoms such as pain (64%), anxiety (55%), depression (41%), insomnia (40%), and inflammation (28%). Ninety-four percent of consumers say that their medical conditions or symptoms improved after consuming cannabis.

According to the survey results, 77% of flower consumers say that strains are important, while 47% are more interested in minor cannabinoid and terpene profiles. “Despite recently increased industry focus on minor cannabinoids and terpenes, most consumers still use strains to make decisions,” New Frontier Data stated.

For consumers who prefer edibles, gummies lead by a large margin at 84% for most common edible, followed by 50% who enjoy cookies or brownies, 42% choose chocolates, and 22% prefer beverages. Most consumers who choose edibles will consume 2-4 mg (14%), 5 mg (18%), or 10 mg (17%).

Cannabis Consumers in America 2023: Part 1 contains a wealth of information about cannabis consumers today, with 45 pages of charts and data on other topics such as spending trends, where consumers choose to buy their product, brand loyalty, social consumption details, perspective on policy, and more.

The post Forty-Two Percent of American Adults Use Cannabis appeared first on High Times.

The post Forty-Two Percent of American Adults Use Cannabis appeared first on Paradise Found.

A new report from New Frontier Data explores the necessity of understanding what medical cannabis patients are currently looking for and require in cannabis medicine. Entitled “From Doctor to Dispensary: A Complete Picture of Medical Cannabis Consumers,” the report analyzes data from a recently published consumer survey, which includes input from 1,874 medical cannabis patients.

New Frontier Data argues that insurance companies could benefit the most from better understanding medical patients. “The Federal Schedule 1 status of cannabis means that it has no recognized medical value. At the same time, almost every state in the U.S. allows for some form of medical cannabis use,” the report states. “This contradiction has resulted in millions of medical cannabis patients with the approval to use cannabis by their state and their doctor, but no access to insurance reimbursement for this medicine, which is usually highly taxed.”

Among the most common conditions that medical patients treat with cannabis is pain (47% of surveyed participants), followed by anxiety/panic attacks (22%), depression (9%), sleep disorders (9%), PTSD (7%), neurological disorders (6%). Additionally, 93% of medical cannabis consumers say that cannabis has helped them, with 57% saying that it significantly improved their medical conditions (while only 36% say that it only slightly improved their condition).

Fifty percent of patients reported that they were currently using prescription drugs, mainly antidepressants (45%), muscle relaxers (27%), arthritis (23%), sleep (20%), and opioids for pain (17%). Over half of the patients also said that they have replaced some or all of their prescription medications with cannabis as well.

The federally illegal status of cannabis is a roadblock for many parts of the industry, but opinions about cannabis are rapidly changing. “This information is especially useful to insurance companies who might view cannabis as a medicine with less potential harm and therefore less cost to them than other medications,” the report explained. “Less harm may also be a driver for the medical cannabis consumer as only 40% say that saving money is a reason for the substitution.”

New Frontier Data also advises how brands can best cater to medical cannabis patients versus average recreational consumers. Both medical and recreational consumers prefer to consume cannabis on their own, or without others. In products with a hybrid of cannabinoid content, only 43% of medical consumers chose products with more THC than CBD, compared to 57% of recreational consumers. However, medical cannabis consumers led with 54% for products that had “slightly more CBD than THC,” and 57% with products that contained “much more CBD than THC.”

Overall, the report found that 55% of medical consumers believe it’s very important to consider minor cannabinoids or terpenes when making a purchase (with 23% saying “I don’t know what that is.”)

Retailers also stand to update their approach to serving medical cannabis patients, as they usually have strong loyalty to strains that they know are effective. Fifty-nine percent usually or always pick the same strain, while only 34% will alternate between options they are familiar with. Most consumers, both medical (52%) and recreational (50%), tend to spend around $50-$200 on cannabis products per month, while a lower percentage will spend more than $200 (30% for medical and 33% for recreational).

“With all the focus on adult use legalization and the recreational consumer, it can be easy to forget that there is a large population of consumers who rely on cannabis for their physical and mental health,” the report concluded. “And while some may argue that all cannabis use is medical, there are certainly distinguishing factors for medical consumers as evidenced above. As cannabis continues its march towards federal medical acceptance, insurance companies, brands and retailers should be aware of the needs of this group and how to meet them.”

The post New Report Analyzes Medical Pot Patients’ Consumption Habits appeared first on High Times.

The post New Report Analyzes Medical Pot Patients’ Consumption Habits appeared first on Paradise Found.

Cannabis retail marketing must be heavily researched to best catch the eye of potential customers, especially in markets where there is a lot of competition. New Frontier Data provides a fascinating look behind the scenes at what brand packaging says about a product, and how it is perceived by consumers. New Frontier Data uses information collected and published in its recently published Cannabis Consumers in America report, which identifies consumers based on their purchasing behavior and trends in the industry (categorized as Savvy Connoisseurs, Contemporary Lifestylers, Legacy Lifestylers, Medical Lifestylers, Modern Medicinals, Engaged Explorers, Social Nibblers, Holistic Healers, and Infrequent Partakers.)

Fifty-one percent of consumers choose products based on the desired effect, such as sleep, energy, chill or create. While potency is also a contributing factor, New Frontier Data’s newest report explored the end result of popular brand packaging appearances, and shared which ones people tend to prefer the most.

For this product survey, participants were asked if they seek out flower from particular brands or companies: 43% answered “sometimes,” 21% said “always,” 19% said “rarely,” and 17% answered “never.” Overall, 28% added that branding and packaging is “very or extremely important” when considering what to buy.

Six image varieties of flower packaging, with percentages of consumers who most preferred those packaging themes: Black Minimalist Jar (7%), Gold Jar (9%), Craft Paper Jar (14%) Mountain Landscape Jar (16%), Hippie Colorful Jar (17%), and Prescription White Jar (36%).

The Black Minimalist Jar is described as a common choice between a variety of age groups, but often chosen because it was “cool, modern, and masculine.” Those who preferred this jar usually spend between $50-$199 per transaction and are more likely to consume cannabis every day.

The Gold Jar was most popular with consumers over 55, describing it as “cool, natural, or modern.” Some described it as feminine, but it was slightly more preferred by men. Those who were drawn to this jar usually purchase between 3.5 grams to 14 grams per month, and tend to purchase about $50-$99 in a single purchase. This particular consumer is also more likely to consider topicals or transdermal products as their favorite.

The Craft Paper Jar featured a simple brown exterior with black text, which attracted consumers who like to consume cannabis in a social setting because it is “natural, authentic, and cool.” Those who are drawn to this packaging tend to buy $20-$99 worth of product in a single purchase. 

The Mountain Landscape Jar attracted younger consumers because it was “cool, natural, and authentic.” They were also the customers most likely to choose vaping as their primary way to consume.

The Hippie Colorful Jar was the most colorful of the bunch, which attracted medical cannabis consumers more than adult-use consumers, describing the jar as “cool, authentic, and modern.” Sixty-four percent of these consumers usually spend between $20-$99 in a single purchase, and prefer edibles over other consumption methods.

Finally, the Prescription White Jar was the most popular of all of these designs, appealing to all age groups and consumer types for its “medicinal, authentic, and natural” approach to design. Those who chose this tend to purchase more than one ounce of cannabis every month, and favored flower over all other product types.

New Frontier Data cites Harvard Professor Gerald Zaltman, an expert on marketing who is also a co-founder of consultant firm Olson Zaltman Associates, which has worked with some of the world’s largest brands. According to Zaltman’s book How Customers Think: Essential Insights into the Mind of the Market, 95% of purchasing decisions are subconscious, and 93% of people will “rely on visual cues when considering new products.”

With this in mind, New Frontier Data recommends a continued thoughtfulness when companies create their brand product identity. “As consumers become increasingly diverse and delineated in both their motives and methods for consumption, brands should aim to directly articulate how a given product suits a consumer’s goals, rather than settle simply for selling flower.

The post New Frontier Data Explores How Packaging Affects Consumer Purchasing Habits appeared first on High Times.

The post New Frontier Data Explores How Packaging Affects Consumer Purchasing Habits appeared first on Paradise Found.

New Frontier Data compared cannabis sales data for the month of November in 2021 and 2022, which shows a shift in sales patterns. While Green Wednesday was the third-highest grossing sales in 2021, sales collected in 2022 on Friday, Nov. 4; Friday, Nov. 11; and Sunday, Nov. 18 were nearly equivalent as Nov. 23 (this year’s Green Wednesday) and Nov. 25 (Black Friday). New Frontier Data consulted many of its leading experts to analyze the reasoning behind this change.

According to New Frontier Data Senior Research Analyst Noah Tomares, the Michigan cannabis industry is evolving rapidly compared to mature markets such as California. “Perhaps the most notable difference in November was how Michigan’s product breakdown stayed similar throughout the month, where in 2021 they favored more edibles and cartridges right before the holiday,” said Tomares. “It’s striking how much more stable Michigan is in 2022 versus what it was ’21, and how much more it looks like California.”

Tomares also added that we’re beginning to see a shift in purchasing behavior as well. “In California, a relatively mature market, purchases remained largely consistent in terms of product breakdowns year-over-year. Michigan consumers last year gravitated towards more subtle or ‘family-friendly’ products such as cartridges and edibles: In 2021, those products spiked from 37% of transactions during the first week of November to 43% for the week of Thanksgiving. This year, the month looked much more normalized, with cartridges and edibles accounting for approximately 40%+ of sales during each week in November.”

New Frontier Data’s Chief Knowledge Officer, Dr. Amanda Reiman, suggests that cannabis normalization is likely the reason that sales aren’t highest on previously predictable days. “I think it’s normalization and increased access nationwide that is driving the change in holiday purchasing,” said Reiman. “Not only are people just more comfortable using their regular products in more places and with more people, but cannabis is available in more states, so there is not as much need to stock up before you go if you can get it wherever you’re headed. Many folks would likely rather wait and buy cannabis at their destination than to take it on a plane.”

Consumers spending time with family and friends on or around the Thanksgiving holiday is also a point to consider. New Frontier Data shared that 44% of consumers source their cannabis from friends or family, and 29% say that it’s their primary source of access. In some medical-only states, as well as those that still don’t have any cannabis legislation, family is the primary source of cannabis.

Previous data has shown that 68% of people consume with others, 21% consume with siblings, 19% with extended family members, 11% with parents, and 6% with their children. Additionally, 85% of consumers say that their family knows about their cannabis use, and 59% say that their family is supportive of consumption.

Thanksgiving-related consumption is also a common practice, where 40% spend time with family or spouses while consuming, 38% report pairing cannabis and eating, and 33% cook with cannabis.

Overall, Tomares believes that these activities will continue to become more normalized over the next few years. “We expect that as markets continue to mature and new markets come online, consumer preferences will become increasingly normalized, and acquisition of cannabis will become increasingly integrated into consumers’ daily routines,” Tomares said. “Already, 48% of consumers report just visiting a dispensary after they run out, as opposed to planning a dedicated trip. With new markets opening with lower barriers to acquisition, consumers may feel less pressure to purchase cannabis before travel or social events. As this plays out, we may see some unofficial holidays playing a less significant role in consumers’ purchase decisions.”

The post Normalization of Cannabis Shows Shift in Holiday Sales Patterns appeared first on High Times.

The post Normalization of Cannabis Shows Shift in Holiday Sales Patterns appeared first on Paradise Found.

Cannabis data company New Frontier Data released “Growing Excellence: Seven Ways to Optimize Cannabis Cultivation in Newly Legal Markets” on Sept. 7, which highlights seven key issues that new cannabis producers should consider in order to achieve success.

“The continued activation of new legal markets will keep pushing existing cannabis producers to expand operations and draw new producers to the market,” said New Frontier Data CEO Gary Allen. “By basing their strategic plans around the seven key factors identified in this report, operators can capitalize on this massive market opportunity.”

In a press release, New Frontier Data projects that more than 27.7 million pounds of cannabis will be cultivated in the U.S. in 2030 (compared to the 7 million that was cultivated in 2020). These numbers are reflected in the total amount of cultivation, which includes plants grown indoor, in a greenhouse, or outdoor.

The New Frontier Data report states that a shift in legal cannabis available on the East coast, cultivation trends are also beginning to change. “As the legal cannabis industry transitions eastward from West Coast markets, several factors will impact how cannabis is grown in the new markets,” the report states. “Different climatic conditions will favor controlled environments over outdoor cultivation, given either the length and depth of winters in the North, or summer humidity in the South.”

Between 2022-2030, New Frontier Data suggests that California will remain on top of producing the most pounds of cannabis at 26.4 million, followed by Florida at 18.4 million, New York at 15.1 million, Illinois at 11.9 million, and numerous other states producing 10 million or less.

The report’s first point suggests the difference in temperature in summer and winter on the west and east coasts. As a result, most east coast states will rely on indoor grow facilities, whereas California remains the leader in both greenhouses and outdoor farms.

Among its other points of discussion, New Frontier Data mentions that automation will continue to grow, but requires experienced workers to manage them. The report also reviews the pros and cons of building or buying a cultivation facility, now that established markets offer the option to choose. Demand for specific products is also changing, with flower still in the lead, as of average data from 2021, but other products are also rising in popularity. “Value-added products (vapes, edibles, topicals, etc.) now account for half of all legal product sales, and consumer interest in these new products is poised for sustained growth as innovation drives increased product quality and diversity, enabling consumers to integrate cannabis into their lives in increasingly novel ways,” the report states. “While demand for flower is also growing, especially for pre-rolls, it is growing more slowly than demand for non-flower products.”

There is also a shift in resource efficiency, which remains important due to various factors. Energy costs from indoor lighting can cause stress on the electrical grid, but new LED technologies help lower electricity use. Likewise, watering through automated systems vs. hand watering can also help save water, in addition to focusing on water reclamation systems.

On the subject of water though, the report notes that climate change is a threat to many states, especially those that are experiencing a drought. “Cannabis producers must consider the looming implications of a changing climate on their operations,” the report describes. “Longer, hotter summers will add premiums on increased cooling requirements and higher energy demand to operate HVAC systems at higher levels for longer periods. Acute droughts—such as those currently being experienced in the Western U.S. states—will drive water shortages, increased water losses from evaporation, and higher costs of water from municipal or community sources.”

Finally, the report concludes that the industry success will be earned by those who adapt to the future. “While producers in new markets may enjoy a period of high margins and low competition, the most successful operators will be those who plan for where the market is going, not where it currently is.”

The post New Frontier Data Projects 27.7 Million Pounds of Cannabis Cultivated in 2030 appeared first on High Times.

The post New Frontier Data Projects 27.7 Million Pounds of Cannabis Cultivated in 2030 appeared first on Paradise Found.

Generation Z has been shaped by a variety of dynamics that have dominated their young lives: technology and social media, social justice movements and, according to fresh research, abundant access to cannabis.

That is perhaps the chief takeaway from a study conducted by New Frontier Data, a firm that specializes in research on cannabis policy.

The study, released last week, found that 69% of individuals aged 18-24 prefer cannabis over alcohol.

In fact, the figures were comparable among the next two age cohorts: 70% of those between the ages of 25 and 34 said they also prefer weed, while 68% of those aged 35-44 said the same.

The numbers are indicative of emerging generations of young adults who came of age at a time when a large and growing number of states and cities throughout the United States have legalized recreational cannabis for adults.

Moreover, polls routinely show large majorities of young Americans support ending the prohibition on pot.

New Frontier Data noted in the study’s analysis that Generation Z, AKA “Zoomers,” or individuals born between 1997 and 2012, “were between birth or age 15 when the first states legalized cannabis.”

“Gen Z is the first generation to be of legal consumption age in an environment with widespread adult-use cannabis access,” New Frontier Data’s vice president of public policy research Amanda Reiman told Bloomberg.

Bloomberg reported that New Frontier Data’s study “included 4,170 current cannabis consumers and 1,250 nonconsumers, found that the preference seems to fade with age, with just 44% of respondents aged 65 to 74 choosing weed over booze.”

While the research suggests a greater familiarity and comfort with cannabis, it also indicates that young people are generally less drawn to alcohol and tobacco than their older peers.

“A recent study published in the Journal of Adolescent Health by researchers at the University of Washington looked at alcohol and tobacco consumption among Gen Zers in Washington during 2014-2019,” the New Frontier researchers wrote. “Those findings saw declines in each past-month alcohol use, heavy episodic drinking, and cigarette use during that period. It is possible that the reductions were related to an overall disinterest in alcohol and tobacco among individuals in Gen Z, an observation supported in the New Frontier Data Consumer Survey.”

“Cannabis consumers aged 18-24 were most likely to say they never drank alcohol (19.7%), and the least likely to say that they drank every day (5.9%). They were also the most likely (among those under age 55) to say that they never used tobacco (39.3%), and the least likely (among those under 65) to say that they used it every day (26.3%),” the researchers continued.

Among individuals aged 18-24, “more than half (56%) reported replacing some of their alcohol with cannabis, compared to nearly 60% among ages 25-34, and more than 60% among 35-44-year-olds,” according to the study, which noted that those “rates declined further among older cohorts, from over 44% among ages 45-54, to about 43% among ages 55-64, and nearly 30% among ages 65-74.”

“The numbers suggest that young people are learning to navigate the legal cannabis landscape without adopting compulsive, increased use, and may also be less likely to consume either alcohol or tobacco, thereby making cannabis their drug of choice,” the researchers wrote in their concluding analysis. “Considering that cannabis carries a lower risk of dependence than do either alcohol or tobacco – and presents no risk of either fatal overdose (e.g., alcohol) or long-term impacts to the lungs (e.g., tobacco) – it suggests that the younger generation may indeed be making more considered choices about their consumption patterns.”

The post Gen Z Prefers Weed Over Booze appeared first on High Times.

The post Gen Z Prefers Weed Over Booze appeared first on Paradise Found.

Data and market intelligence company Headset released a report on March 15, entitled “Understanding 4/20 cannabis holiday & consumer purchasing trends,” which projects that 2022 will be one of the biggest holidays yet for cannabis sales. The data is collected by Headset’s own software, which examines real-time sales from participating retailers. “April 20 has been the largest single day of retail cannabis sales each year since legalization (with one notable exception), so we understand that it’s a pretty darn significant day,” the report states in its introduction. “We also know that there are some consistent patterns on 4/20 each year: sales surge, customers enjoy massive discounts, and certain categories are more popular than others.”

The report analyzes data collected from various retailers in Arizona, California, Colorado, Illinois, Massachusetts, Maryland, Michigan, Nevada, Oregon and Washington, as well as the Canadian provinces of Alberta, Ontario, British Columbia and Saskatchewan. Data is reviewed by analyzing sales that occurred during the last four weeks prior to April 20, 2021 (reviewing March 23, March 30, April 6 and April 13 of that year).

In the US, from March 2021 to February 2022, flower market share dropped from 46% to 41%, but saw an increase in market share for pre-rolls (25%), vape pens (14%) and edibles (11.9%). “Pre-Roll market share has been slightly more volatile, rising quickly through most of 2021, only to decrease during the end of the year and then increase again in the opening months of 2022. This is a great example of how much can change during a year of cannabis sales!” Between 2020 and 2021, major product categories that rose in percentage included Concentrates, Flower, Edible, Pre-Roll, Vapor Pens and Capsules. This excludes “Tincture & Sublingual” and Topical, which decreased by 4% and 33%. Beverages remained nearly constant between the two years, showing a 4/20 sales increase in 2020 at 184%, and in 2021 at 183%.

Gender and age group consumption data also shifted in the past year. Sales by female customers increased by 140% four weeks prior to 4/20, whereas male customers “had a slightly lower response” at 107%. In regards to age, Headset shared that younger customers were more excited about 4/20 than older customers. “Sales to the Generation Z group came pretty close to tripling on 4/20 last year, while sales to the Gen X and Baby Boomer groups didn’t even double. It would make sense that the continued caution of COVID may have influenced this trend,” the report explained. “Younger customers may have been more willing than older customers to risk exposure to the virus in order to celebrate 4/20 at a dispensary. However in our sales data we see a similar trend in 2019, which is before any of us had heard the word ‘coronavirus.’”

Headset concludes its report by offering advice to cannabis business owners who seek to benefit from the holiday. “Make sure you understand what your customers want and keep your shelves stocked appropriately, or you could risk losing loyal customers to the competition,” the report recommended. “You also want to make sure your strategy considers the potential of turning new or infrequent shoppers into loyalists and more frequent customers since the day sees significant lift in transaction volume by various customer groups.”

Another data company that covers the various intricacies of the cannabis industry, New Frontier Data, recently projected that cannabis sales could hit $51 billion by 2025. New Frontier Data Founder, Publisher and Executive Chair Giadha A. DeCarcer, explained in the introduction of that report that the past two years have shown immense growth in the industry across the board. “In just two years’ time, the number of countries having legalized some form of cannabis has increased from 50 to 70, and there are now 10 countries legalizing adult use, almost a twofold increase from 2019. As legal markets across the globe continue to evolve, we have found that regulatory structures and societal norms vary greatly, and each country, region and market require a nuanced approach to quantifying, qualifying and understanding them.”

The post Headset Projects 4/20 Cannabis Sales to Increase by 100% in 2022 appeared first on High Times.

The post Headset Projects 4/20 Cannabis Sales to Increase by 100% in 2022 appeared first on Paradise Found.

New Frontier Data reviewed Colorado sales data and found that among the wide variety of product available to consumers, flower still reigns supreme.

A new analysis of Colorado’s cannabis sales data was presented by New Frontier Data on November 2. Using data from the Colorado Marijuana Enforcement Division, the company found that between 2014 and 2020, cannabis flower sales have increased exponentially. 

In terms of pounds of flower sold to consumers within that seven-year period, the state sold 148,000 pounds in 2014 and gradually increased to 584,000 pounds by 2020, with a compound annual growth rate of 26 percent.

New Frontier Data defines an average-sized joint as one-third of a gram of cannabis, and at that size, Colorado sold 201 million joints in 2014. By 2020, the state sold approximately 795 million joints. During the seven years since Colorado has had an established recreational cannabis law, the state has sold over 3.4 billion joints. 

“That flower sales continue to increase at such a pace seven years since the market launched suggests that smoking flower will remain a durable preference for the foreseeable future,” New Frontier Data Chief Knowledge Officer and author John Kagia wrote in his analysis. “However, the dominance of flower belies the seismic changes happening to consumer behavior and highlights the imperative for producers and brands to understand the tides of evolving consumer preferences.”

Although Colorado shows strong growth in flower sales, the individual breakdown of consumer preference is in flux. New Frontier Data’s 2021 Cannabis Consumer Evolution report notes that 57 percent of consumers use both flower and non-flower products, with only 19 percent saying they don’t choose flower over other options. 

Seventy percent of younger consumers (defined in the range of 18-34) were two times more likely to consume both flower and non-flower products than older consumers (defined as those over 55 years of age), at 35 percent. However, for age ranges that only consume flower, the older group was twice more likely than the younger crowd, at 40 percent and 15 percent respectively.

Those who consume cannabis products less frequently were found to only use flower, whereas those who consumed often were more likely to use a variety of cannabis products. Additionally, in gender demographics, women were less likely to choose flower in comparison to men. Medical cannabis patients also reported not using flower when treating their ailments, due to the increased risk of smoking on their health. 

Black market sales also have an interesting effect on flower popularity. New Frontier Data found that 33 percent of consumers who live in illegal markets are more likely to smoke flower exclusively, whereas only 22 percent of those who live in regulated markets will choose flower. Twenty-eight percent of consumers who purchase their cannabis products from physical retail stores or delivery services were more likely to buy non-cannabis flower products, in comparison to only 13 percent who would purchase from “informal sources.” 

The availability and promotion of new cannabis companies and products in Colorado present a thriving legal impact. “That dynamic reflects the regulated market’s power in introducing consumers to new, alternative product forms: not only is the legal market far more effective in innovating new product forms than is the illicit market, but the retail experience by which consumers can speak with knowledgeable budtenders regarding their needs and preferences is hastening the adoption of value-added products in regulated markets,” Kagia wrote.

Cannabis flower may be the most prominent form of consumption, but in the years to come, New Frontier Data predicts that it will slowly become less popular in favor of the growing variety of non-flower products. “The fragmentation of the product landscape is quickly reshaping the flower-dominant segment of the market; based on current trends, consumers who use flower exclusively are likely to become increasingly dominated by older, male and less-frequent users.”

The post Cannabis Flower Most Popular Form of Consumption in Colorado appeared first on High Times.

The post Cannabis Flower Most Popular Form of Consumption in Colorado appeared first on Paradise Found.

A recent report from New Frontier Data explores the rapid growth of both medical and recreational cannabis sales in its “Global Cannabis Report: Growth & Trends Through 2025” report. The report is a comprehensive look at what to expect in the global cannabis industry over the next few years, while analyzing the current and future trends in the global markets of North America, Europe, Latin America, the Caribbean, Oceania, Asia and Africa.

New Frontier Data Founder, Publisher and Executive Chair Giadha A. DeCarcer, shared in her Letter from the Publisher at the beginning of the report that this industry will only continue to grow and expand. 

“When we released our first Global Cannabis Industry Report in 2019, it was clear that cannabis legalization would prove to be one of the most consequential socioeconomic movements of our time,” she wrote. “In just two years’ time, the number of countries having legalized some form of cannabis has increased from 50 to 70, and there are now 10 countries legalizing adult use, almost a twofold increase from 2019. As legal markets across the globe continue to evolve, we have found that regulatory structures and societal norms vary greatly, and each country, region and market require a nuanced approach to quantifying, qualifying and understanding them.”

The report states that in 2020, regulated markets sold $23.7 billion in high-THC cannabis product (which is 10 times the sales numbers of any other regulated markets in the world), and the combined total of medical and recreational cannabis sales in the U.S. was $20.3 billion. In comparison, Canada saw approximately $2 billion in high-THC cannabis products sold in 2020. The constant rise of cannabis in both the U.S. and Canada could lead to sales increasing to $51 billion by 2025.

Outside of North America, though, sales of high-THC products were lower overall, but still on the rise. Germany is home to Europe’s largest medical cannabis program to date, and in 2020, the country collected $206 million. That includes a collective number of both medical cannabis patients who use their insurance for a reimbursement program, as well as those who sought out cannabis products in other ways. 

Like the U.S., cannabis is not federally legal in Spain, but the individual provinces in the country do have various regulations on cannabis sales. In 2019, cannabis clubs in the country reached $431 million, which makes Spain a contender for becoming one of the largest industries in the world, behind the U.S. and Canada.

On September 23, a webinar entitled “Exploring the Global Cannabis Economy: Trends, Projections & Opportunities” was held, featuring a handful of prominent speakers discussing the global cannabis industry’s future. 

New Frontier Data Chief Knowledge Officer John Kagia predicted that even though there is “$8 billion of capital is invested in the cannabis industry, that rate of investment is only expected to grow.” 

Another speaker, Tim O’Neill, VP of international markets for SōRSE Technology, pointed out that adhering to a specific market’s regulations on cannabis is becoming more difficult, saying that “either you can sell there, or you cannot.” He also mentioned that for investors seeking profit, there is opportunity in Chinese and Indian markets.

According to Mikhail Sagal, founder and president of TSRgrow, the success of non-US cannabis industries will rely on quick establishment of a regulatory framework. Those countries “will all have to change and become more standardized and acceptable,” he said, and added that companies “will have to change and be able to adapt in changing systems.”

New Frontier Data describes the expectation of Managing Director of FTI Consulting, Lincoln Eckhardt, as hoping for the best but expecting the worst. He shared the history of the vaping crisis in 2020 and how addressing the issue directly was the best course of action. 

“Would that have been the answer a year or 18 months ago?,” Eckhardt asked. “Look at separate medical markets—[while] Oklahoma has very few rules, when Alabama comes online, it will be incredibly restrictive,’ so stakeholders must ascertain its risk assessment and corporate investment in terms of what it decides to be worth offering.” 

A recording of the two-hour webinar can be found here, which contains a variety of new cannabis industry data and topics regarding the global industry.

On a global scale, New Frontier Data states that the main force behind legalization efforts is thanks to medical cannabis initiatives. However, each country is approaching the concept differently. Many countries in Europe have embraced the pharmaceutical route, which allows patients to pick up their cannabis medicine through a pharmacy. 

In Latin American countries with legal sales, success has been found in programs through private clinics and physicians who are available to prescribe cannabis. Medical cannabis patient numbers continue to rise around the world due to easier access to medicine. In 2020, an estimated 4.4 million people were registered as active medical cannabis patients throughout the world. Furthermore, an additional two million patients are expected to register for medical cannabis over the next five years, which could reach 6.5 million people by 2025.

Recreational cannabis sales are expected to double that of medical cannabis sales by 2025 as well. On the recreational front, only 10 countries have legalized recreational cannabis, with six approving the sale of high-THC products.

Many of these regions are only beginning to implement their programs. In the Netherlands and Spain, a model of “decriminalized club/social-use” model, whereas South Africa and Jamaica have approved limited access for religious groups. Uruguay on the other hand has fully legalized recreational cannabis, and as a result, has sold more than 1,700 kilograms of high-THC product.

The post New Frontier Data Predict Global Cannabis Sales to Hit $51 billion by 2025 appeared first on High Times.

The post New Frontier Data Predict Global Cannabis Sales to Hit $51 billion by 2025 appeared first on Paradise Found.