Recreational Marijuana Trends
Illegal Sales Are Diminishing
California’s decision to legalize recreational marijuana has led to widespread consumption of the plant. However, some areas of California are consuming marijuana more than others. There are also specific variants of the plant that Californians seem to prefer.
Southern California has spent more money on cannabis products than the rest of the state, and they’ve done so in a legal manner. The majority of the products purchased were flowers, but edibles have risen in popularity, too.
This surge in legal marijuana usage has helped California to get rid of cartel-based growers. The cartel has been using legal growing fields to produce marijuana that they can distribute to states that have not legalized the plant’s recreational use. With legal marijuana usage being the norm, law enforcement can more easily target illegal growers. For visual aids and more in-depth explanations, click here.
California brought in roughly 234.2 million dollars in revenue from the cannabis industry in 2018. The majority of this revenue came from the large number of cannabis consumers in Southern California. Most of the revenue was made by selling marijuana flowers and edibles infused with THC.
More than half of the revenue generated was from sales tax being placed on cannabis products. The revenue generated by cannabis sales is a major bonus for the state of California because it can be put towards programs that need the extra funding. If you’d like to view graphs depicting these statistics, you can click here.
Consumers Effect The Industry
As marijuana has become legal in more states, there has been a growing and evolving market surrounding the plant. Brands are realizing that new individuals are beginning to use cannabis products, and that has created the need for innovative products.
One study showed that brands are starting to aim lower potency and discreet products towards young women. This includes products such a THC vape liquid, low-potency edibles, and beauty products.
The new demographics becoming available to brands has led to brands having to innovate their approach in an attempt to distinguish themselves from other distributors. With new products being made regularly, the marijuana industry has began to rapidly evolve beyond it’s more simplistic roots. This is a good thing for marijuana enthusiasts. They’ll benefit from a growing number of options in the cannabis market.
Investors Can Profit
The cannabis industry has been experiencing the same buy-outs and corporate partnership deals as every other industry. Due to the cannabis industry being new and promising, reputable companies like Constellation Brands have taken interest in small cannabis brands.
With the cannabis industry becoming backed by large companies, stock investors can expect to see large amounts of growth in their investments. A lot of profitable opportunities have opened up due to the legalization of recreational cannabis, and more investment-savvy individuals can easily see large profits from investing in the industry.
Public Support Is Growing
As of 2018, 62% of Americans are supportive of marijuana legalization. That statistic shows a 1% growth in support since 2017, and that’s nearly double the amount of support since the year 2000.
As support for the legalization of recreation cannabis grows, more states are persuaded to legalize the plant themselves. At the moment, recreational use of marijuana products is legal in ten states, and that number is expected to grow in the years to come.
Teen Marijuana Use In States That Haven’t Legalized Marijuana
There’s a debate going on in Illinois that pertains to teens using marijuana illegally. The state has not legalized marijuana usage. They have decriminalized the possession of less than ten grams of the plant, though.
Law enforcement is stating that teenage marijuana use is climbing quickly, and marijuana usage is one of the leading drug issues with children in school. They have claiming that the spike in teenage marijuana use is due to the decriminalization law. However, the statistics from states that have legalized marijuana prove that to be false.
In states that have legalized marijuana, teenage use of the plant has dropped drastically. Fewer children are using cannabis products, and they’re waiting until they’re of legal age to experiment with it. This directly contradicts the claims of Illinois law enforcement, and it’s a solid sign that legalization lowers teen marijuana usage.