Top-7 Cannabis Trends to Watch out for in 2024

Top-7 Cannabis Trends to Watch out for in 2024

Every new year brings surprising changes to the rapidly evolving cannabis industry, and the trends that will shape it in 2024 are already emerging. This year, the industry is likely to see a rise in cannabis legalization, the release of new, innovative products, the formation of new consumer habits, the introduction of new ways of marketing cannabis, the conduction of advanced studies in medical marijuana, and much more. Cannabis businesses need to be aware of the impactful upcoming changes and master cannabis trends in 2024 to stay ahead of the competition and remain profitable and relevant.

Frankly speaking, 2022 was like a roller coaster for the hemp industry. Various economic challenges and industry-specific obstacles contributed to the sector’s tough year. However, the new year has something exciting and intriguing to offer. Therefore, let’s dive a little deeper into the new cannabis trends that are worth keeping a lookout for in 2024.

Trend #1: Movement Towards Legalization Continues Getting Stronger

Legalization is a topic that matters the most when it comes to discussing the latest cannabis trends. While federal legalization continues to be a roadblock for all businesses around the country, noticeable progress is being made at the state level.

To be specific, recreational cannabis has already been legalized in 21 states, including Missouri and Maryland, where the legalization measure was approved just recently in November 2022. Also, recreational dispensaries could become legal in Vermont, where cannabis possession and home-growing have already been legally permitted.

Moreover, despite the fact that Florida’s Supreme Court shot down a few recreational petitions, backers of the constitutional amendment have submitted more than enough signatures under a new petition to get on the 2024 ballot. Regarding Oklahoma State, there is a special election that will be held soon, in March 2023. At this election, citizens will vote on the approval of the adult use of cannabis.

Nowadays, federal legalization is supported by almost two-thirds of the country. That makes it more likely that cannabis will become legal in Minnesota, New Hampshire, and other states over time. Additionally, this means wide CBD business opportunities and other business niches prospects in the pot industry. In fact, the number of supporters of continued legalization grows as raised awareness of the decriminalization benefits is brought and the general stigma upends.

Trend #2: Diverse Range of Innovative Products Ruin Stigmas

Among the most noticeable cannabis trends is definitely the point about tasty product innovations. Different hemp and cannabis brands now attract consumers by investing in innovative product manufacturing. Today, things move beyond the flower on the cannabis market as more and more consumers become interested in the following:

  • edibles (gummies, candies, etc.);
  • infused products (such as tinctures);
  • other manufactured cannabis goods.

Growing industry trends toward producing new types of cannabis goods that are tasty, lower-dose, and simply more familiar are beneficial in many ways. That way, the public stigma is upended, allowing cannabis brands to attract new clients and earn their trust.

Cannabis-Infused Beverages Start Gaining More Attention

Specifically, cannabis-infused drinks, now considered the smallest segment within consumption, have great potential for skyrocketing popularity. That’s because these beverages fit naturally into overall consumer interest and, thus, social acceptance grows. They become associated with health-conscious consumption and hangover relief, and some people even see them as a possible substitute for a glass of wine at night.

Trend #3: Consumers’ Sophistication Tends to Increase

Following our list of cannabis market trends, this one is directly related to the previously mentioned product innovations. Innovative goods’ vast creation and rapid distribution form new habits among canna customers, and they become more sophisticated. Flowers start losing their market share to the following product innovations:

  • vapes and vape carts;
  • concentrates;
  • edibles, etc.

Most cannabis consumers do not give up on smoking flowers; they just combine them with trying out some innovations. Nevertheless, as the live resin keeps becoming the favored extract both in the form of concentrates and something infused (pre-rolls, carts, and edibles), the distillates begin slightly losing appeal. When it comes to vapes, one can easily recall their crisis in 2019, but they recovered and are now the second-best-selling marijuana product. Considering all of this, the conclusion is that new consumer trends emerge quickly, and cannabis companies must exert greater effort to meet their clients’ expectations and needs.

Trend #4: Delta-8 THC Market Is Likely to Remain a Major Concern for the Industry

The delta-8 THC compound of the cannabis plant still remains at the hearing in the canna world. That is why the situation related to this molecule has also joined our top marijuana trends list.

After passing the 2018 Agriculture Improvement Act (better known as the Farm Bill), nationwide cannabis cultivation was legalized. Moreover, derivatives, extracts, and cannabinoids became legal at the federal level if made from the hemp plant (according to the 2018 cannabis reform, the hemp plant is referred to as a cannabis plant with a maximum THC amount of 0.3% or less). All of the above shows that CBD extraction from a hemp plant and its further use in manufacturing other cannabinoids does not violate the Controlled Substances Act. But at the same time, each state can adopt its cannabis related reform laws.

Consequently, plenty of governing rules and restrictions regarding the delta-8 cannabinoid were implemented in almost every state in the past year. Nevertheless, the competition in the legal cannabis industry was still in place because delta-8 products proliferated practically unregulated, whether in states with robust rules and laws or with restricted or even no legal marijuana markets.

So in case there are not any further legalization efforts or new changes taken related to 2018 federal cannabis reform soon, the delta-8 THC market will remain a “pain in the neck” for the canna sector.

Trend #5: Awareness of the Diverse Plant’s Compounds Will Increase

CBD and THC are considered the most known cannabinoid compounds of the hemp plant. But these molecules aren’t the only ones that deliver the effects of the plant. Among plenty of developments and cannabis industry trends, the scientists’ research on other cannabinoids is worth noting. The more investigations and studies that are taken, the more scientific evidence there is of their effects and potential health benefits. Nowadays, most studies are conducted on the following ones:

  • CBC can be naturally found in significant quantities, delivers health-beneficial effects, and has many potential medical uses;
  • CBG, which is the origin of THC and CBD, shows many extensive health advantages;
  • THCV, better known as “diet weed,” is considered valuable as an appetitive suppressant and in the potential treatment of diabetes symptoms, Alzheimer’s and Crohn’s disease, PTDS, and other conditions.
  • CBN, detected in very low amounts in the plant, is slightly psychoactive and favored for its anti-anxiety soothing qualities.

Except for cannabinoids, cannabis also contains terpenes, which have considerable influence on various strains’ psychoactive properties. Nowadays, they are also the subject of many advanced scientific studies and can be regarded as one of the 2024 cannabis trends. That is why more and more consumers are becoming aware of their advantages.

The current cannabis industry conditions are such that breeders are on their way to creating unique strains that will possess a particular concentration of specific cannabinoids or terpenes. That way, various new supplements and cannabis products containing these compounds will likely hit the market in the coming years.

Trend #6: New Approaches in the Weed Marketing Arise

New trends in the cannabis space do not stop surprising. The next one we are going to discuss is among the trends in cannabis marketing and is thought of as the most anticipated.

When it comes to cannabis marketing, companies and brands can face a plethora of regulatory and compliance issues, as well as various platforms’ strict rules. The most prominent social media platforms, such as Instagram or Facebook, are considered to help brands reach their target audience and deliver their message to them. However, in the cannabis field, that is not the case.

As a direct consequence of the above, many businesses, brands, and entrepreneurs in the marijuana industry have found the perfect alternative. They have started collaborating with different celebrities and niche influencers. There is a high value in teaming up with them, which can turn out to be a big game-changer. The reason lies in marketing and promoting products and services effectively.

This unique marketing approach lends legitimacy to a brand and helps inspire trust in potential clients. It is a fine opportunity to get out there in the online world and discuss relevant and essential topics and connect with various canna communities in the most creative ways imaginable. By resorting to celebrities’ partnerships and support, canna-businesses can easily and efficiently establish themselves as a reliable resource for their consumers. That is the direct way to develop a more prominent name, gain more leverage, and boost market share and profit.

Trend #7: Studies on New Uses Of Medical Marijuana Will Keep Being Conducted

Whether just a hemp fan or already a connoisseur, everyone who wants to stay up-to-date with important cannabis business news and the latest legal cannabis tendencies would also like to know the current situation regarding medical cannabis.

Since the acceptance of hemp and its derived products in society grows, more deep studies and research are being conducted about the plant’s medical and recreational use. Their main goal is to find out what potential benefits the main plant components could have for the human body. Currently, several significant investigation results can already be highlighted.

Researchers have discovered some cannabinoids in cannabis that may help fight cancer. In the near future, this case is likely to be the subject of a lot of further research. Moreover, scientists are searching for a way to synthesize similar molecules to these naturally occurring cannabinoids. They are believed to be capable of providing a considerably stronger anti-cancer influence. But there is more than that.

The CBD phytocannabinoid, or cannabidiol, is known to deliver effects similar to antibiotics. Hence, CBD might be regarded as a potential treatment for antibiotic-resistant infections. That means an opportunity to produce topical creams with cannabidiol that will possess antibiotic effects.

Additionally, there are significant findings connected with cannabinoids’ ability to relieve symptoms in patients with the following conditions:

  • depression, PTSD, and anxiety disorder;
  • epilepsy;
  • glaucoma;
  • multiple sclerosis;
  • Parkinson’s, Crohn’s, Alzheimer’s diseases, etc.

Nowadays, a lot of people seek alternatives to traditional treatment. With growing awareness of cannabis products, they appear to come as the finest substitute option.

In Conclusion

Many notable changes and interesting trends in the cannabis industry are expected in the coming year. The success of canna-related businesses and enterprises requires comprehension and adoption of these tendencies. The information given in this article can help everyone in the cannabis world keep an eye on the cannabis trends 2024 in order to steadily develop, grow, and stay on top of the wave this year.

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MjSeo writer

Andrew High is an experienced digital marketing expert. He specializes in helping businesses within the marijuana industry market their products and services online. With years of experience in creating marketing strategies for cannabis-related businesses, Andrew has a proven track record of success.