What to Expect in the Cannabis Industry for 2023 

As the cannabis industry continues to grow, new trends are emerging that will likely continue to shape the industry over the next few years. From technological advances in growing techniques to an increasing demand for specific and well-thought-out products, here are ten cannabis industry trends to watch out for in 2023. 

Cannabis-Infused Beverages and New Creative Edible Options

The demand for cannabis-infused beverages and new creative edible options is on the rise and doesn’t show any signs of slowing down. Consumers are increasingly interested in trying out new products like drink mixes, gummies, teas, sugar-free options, and more. This trend is likely to continue as more companies enter the space with creative ideas and products. 

Focus on Social Equity Initiatives 

Social equity has become a major focus globally in the last few years, especially in the cannabis industry, with many companies offering programs and initiatives aimed at providing access to those from marginalized communities that have been disproportionately impacted by prohibition laws. These initiatives will continue to be important in 2023 as companies work towards creating a more equitable industry for all.  

More Research into Cannabinoids 

As research into cannabinoids such as CBD, CBG, and CBN continues, we’re likely to see even more advancements in this field. Scientists are already making progress when it comes to understanding how these compounds interact with our bodies and how they can be used both medicinally or recreationally. We expect this trend to continue into 2023 as researchers uncover even more information about these powerful compounds and the unmistakable benefits they can have on our health and well-being.

Growing Demand For Quality Control Testing 

With more states legalizing recreational marijuana use, there has been an increased focus on quality control testing of cannabis products. Companies must meet certain standards when it comes to potency, purity, terpene profiles, and contaminants such as pesticides, etc., before their product is allowed on store shelves or online marketplaces. This trend is likely to continue throughout 2023 as states look for ways to ensure consumer safety when it comes to cannabis products. For example, WA state has finally made it law that all cannabis products must pass pesticide testing and show proof of this before any sales can be made. This is a huge push towards ensuring everyone has access to safe, clean cannabis.

Greater Focus on Sustainability Practices  

The focus as of late has been hugely geared towards companies becoming more sustainable and reducing their carbon footprint, and it is no secret that the cannabis industry as a whole, contributes to a lot of waste. As more companies enter the cannabis market, there’s been an increased focus on sustainability practices such as using organic materials or renewable energy sources whenever possible. This trend will only continue as businesses look for new inventive ways to reduce their environmental footprint while still ensuring the quality of their products.

Takeaway

The cannabis industry is constantly evolving and changing as new trends emerge each year. In 2023 specifically, we expect there will be an emphasis on social equity initiatives, an increase in research around cannabinoids, a growing demand for quality control testing of products, a larger focus on sustainability, and a continued interest in cannabis-infused beverages and creative edibles amongst consumers. All of these factors combined should make for an exciting year ahead!

Thanks for reading,