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The CannaBit Blog

MARIJUANA DATA & TRENDS

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4/20 Brings Much to Celebrate and Contemplate for Cannabis Industry in 2017

By J.J. McCoy, Senior Managing Editor of New Frontier Data

The week of the traditional 4/20 holiday of the cannabis movement and industry was marked by the usual celebrations and demonstrations, from thousands at Hyde Park in London, to like-minded revelers gathered in New York’s Central Park, Washington, D.C.’s National Mall, Chicago’s Millennium Park, Denver’s Civic Center Park, and San Francisco’s Golden Gate Park, respectively.

And even as an article in USA Today underlined how mainstream the social event has become, there were nevertheless some singularly significant activities going throughout the week, as well.

Why People Use Cannabis?

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Based on New Frontier Data's 2017 Cannabis Perceptions Survey, we have found that:
  • Relaxation is the most widely cited reason why people consume cannabis.
  • The next four most common reasons cited are to relieve stress, to enhance the enjoyment of a social experience, to reduce anxiety and to improve sleep quality.
  • Other reasons, each selected by fewer than one in five cannabis consumers includes: stimulating creativity (16%), treating a medical condition (15%); increasing focus and attention (9%); enhancing meditation or religious experiences (7%) and improving exercise or training performance (5%).
  • Women are significantly more likely than men to consume cannabis to relieve stress  (+7%), to reduce anxiety (+13%), to manage pain (+8%) and to improve sleep (+10%).
  • These results show opportunities to create gender-targeted products tailored to the specific ways in which each gender engages with cannabis.
  • Furthermore, the variety of reasons why different user-segments consume cannabis presents a widened product development and branding spectrum, with significant opportunity for producers, marketers, distributors and retailers.
  • For example, products aimed at female cannabis consumers seeking to enhance their social experiences should look, feel, taste, and be brought to market much differently than products aimed at male consumers seeking to improve the quality of their sleep.

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MARIJUANA MARKET 101

What Is Industrial Hemp? And Is It Good For The Economy?

When people think about the legal cannabis market, most of the discussion centers around distribution for and consumption of medicinal marijuana, and the impact of recreational marijuana laws in states like Colorado.  Though made from similar plants, hemp is different from the marijuana people use to alter their mood or help them cope with physical and mental illnesses. What’s more, there is a growing U.S. market for hemp agricultural and hemp made products that is being tightly regulated, because of hemp’s long-standing illicit status.  Nevertheless, over a dozen states in the last three to five years have been experimenting with allowing various levels of hemp growth and cultivation, as well as product development. Both the U.S. Congress and state legislatures have been considering laws that would change hemp’s status and make it a legal crop. But what is hemp or industrial hemp? And does it have potential to be good for the U.S. economy?

What Is A Marijuana Dispensary?

Marijuana and medical marijuana dispensaries (also known as "compassion clubs") are offices or facilities that sell marijuana, as well as marijuana accessories, such as rolling papers, blunts and vaporizer pen mix. While some states allow the existence of a marijuana dispensary, the US Drug Enforcement Agency and other federal law enforcement agencies, still raid these facilities because they are not legal under federal law.

A Brief History Of Marijuana

Marijuana is the Mexican colloquial name for the plant genus Cannabis, which includes three species: Cannabis Sativa, Cannabis Indica, and Cannabis Ruderalis. Widely believed to have originated in central Asia, cannabis has been cultivated for at least 5,000 years, making it one of mankind's oldest agricultural commodities.
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