If you own a cannabis-related business, it’s essential to stay up-to-date on the latest trends to ensure you’re setting yourself up for success. One way to do that is to review cannabis statistics to understand how the industry is growing and evolving. With this information, you can make informed decisions about the best next steps for your business. So, let’s dive into the top 10 most surprising cannabis statistics and what they mean for businesses.
Ten Cannabis Statistics You Need to Know
1. Cannabis Consumption Among Users Increased During the Pandemic
According to a 2021 Weedmaps study, the pandemic caused a 50% increase in consumption among regular cannabis consumers.
What this means for cannabis companies: An increase in cannabis consumption means an increase in business for cannabis companies. By focusing on new ways to advertise your cannabis products, you can capitalize on the increased demand and reach new customers.
2. Cannabis Consumers Value Social Equality in the Industry
46% of cannabis consumers want to buy from women-owned retailers, and 44% want to patronize minority or veteran-owned companies.
What this means for cannabis companies: If you identify with a minority group, letting your audience know how their support makes a difference could make a difference in your sales. If you don’t identify with a minority group, you can find ways to give back to the community and prioritize social equality through your company values and mission.
3. 18 to 25-Year-Olds are the Most Active Group of Cannabis Consumers
22% of American consumers between the ages of 18-25 have used marijuana in the past month, and 34.8% have used it in the past year.
What this means for cannabis companies: Knowing your target market is essential. It impacts how you package and market your products. Since 18 to 25-year-olds are the most active consumer group, finding ways to reach and engage people in this age range will help increase sales.
4. Cannabis Flower is Still “King”
The top-selling cannabis products are flower (61%), concentrates (22%), and edibles (9%). While cannabis flower is still “king,” other forms of consumption are gaining popularity.
What this means for cannabis companies: Knowing the top-selling products enables you to decide what you’ll sell. It can also help you make adjustments based on supply and demand. It’s always important to give the people what they want, and right now, they want cannabis flower, concentrates, and edibles.
5. More Women are Buying Cannabis Products than Ever Before
Cannabis sales to women in the U.S. increased by 55% from the end of 2020 to the beginning of 2021. Sales to men also increased by 49%.
What this means for cannabis companies: Packaging and marketing your products to appeal to women will prove beneficial as more women are purchasing cannabis products. You can use these cannabis statistics to develop new product lines or create customized cannabis packaging that appeals to your target audience.
6. People are Buying More Cannabis Products
Cannabis sales in the U.S. increased by 40% in 2021.
What this means for cannabis companies: This is another promising cannabis statistic that proves the industry isn’t slowing down any time soon. Whether you’ve been in business for a while or you want to start a cannabis-related company, now is an excellent time to invest in the industry.
7. Consumers are Using Cannabis Delivery Services
Weedmaps saw a 60% increase in deliveries in 2021.
What this means for cannabis companies: Consumers are using cannabis delivery methods now more than ever. This means it’s essential for businesses to partner with delivery companies to get their products into the hands of more people.
8. Consumers are Using CBD
14% of Americans use CBD products, primarily for pain, anxiety, and sleep.
What this means for cannabis companies: Cannabis companies can increase their consumer base by developing and selling CBD products. When choosing CBD packaging and marketing strategies, it’s important to appeal to consumers’ reasons for using CBD products: pain, anxiety, sleep, arthritis, headaches, stress, mental health, depression, skincare, etc. By understanding why 14% of Americans use CBD, you can create customized packaging that appeals to their needs.
9. More States are Legalizing Marijuana Use
As of April 2021, 17 states and the District of Columbia have legalized small amounts of recreational marijuana use. 36 states and D.C., Guam, the Virgin Islands, and Puerto Rico have approved a medical marijuana program.
What this means for cannabis companies: As more states begin to legalize recreational marijuana, the cannabis statistics around usage will continue to increase. As a cannabis company, it’s important to position yourself now for the industry’s continued growth. Because the industry is so competitive, having an appealing brand identity that extends from your marketing efforts to your product packaging is essential.
10. Americans Support Legalizing Recreational Cannabis Consumption
9 out of 10 Americans support some form of legalization.
What this means for cannabis companies: Support of the cannabis industry continues to grow, and we’ll likely see these cannabis statistics become even more promising for businesses year after year.
Use These Cannabis Statistics to Grow Your Business with the Help of Green 420 Pack
If you’re ready to increase sales for your cannabis company and capitalize on these cannabis statistics, let us help! At Green 420 Pack, we specialize in creating customized branded packaging for all your cannabis products. Stand out among the competition and capture the attention of your target audience with beautiful, engaging, high-quality packaging. Contact us today, and our team of packaging experts will help you choose the right cannabis supplies for your products!