2021: The Future of Cannabis and the Year Ahead
Finally, 2020 is over! Resolutions are created, mindsets are evolving, and a sense of a new beginning has begun.
Grab some of your favorite munchies because the year 2021 is happening. A new year rolling in creates new and exciting opportunities for the cannabis industry. Let’s take a deep dive into the projected future of cannabis!
Across all 50 states, there has been a rapid movement and change when it comes to the legality of cannabis. The year 2020 was a big year for cannabis reform at the state and federal level. So what is expected in the year 2021?
Legalization of cannabis throughout various states
Steps towards federal decriminalization
Certain states will allow dispensaries to open
Cannabis Product Types
A new year allows room for new products and innovations in the cannabis industry as well. Cannabis brands will need to continue to innovate into 2021 in order to capture new consumers and continue to push the market forward. Below is a list of some of the projected products that cannabis users might see in 2021!
Powder that is water-soluble in beverages
Products involving micro-dosing/ low-dosing
In the cannabis industry, consumers are aware of the other cannabinoids beyond CBD and THC. It is projected that consumers will seek higher awareness of these secondary cannabinoids with a desire for more THC in their products. Some secondary cannabinoids we could see in 2021 include:
Tetrahydrocannabivarin acid (THCA)
Cannabis Strains to Emerge
New year, new strains? With the variety of cannabis strains already on the market, one would think there isn’t any room left. Cannabis breeders are already taking action by producing an abundance of different strains.
Here is a list of new strains that you may be able to experience in 2021:
Aurora Indica: 90% Indica dominant strain crossed with Afghan and Northern Lights
Pie Face OG: Cross between Cherry Pie and Face Off OG
Meat Breath: Indica dominant strain by crossing Meatloaf and Mendo Breathe
Sour Berry Blue: Sativa dominant hybrid by crossing Blueberry and Sour Diesel
Lava Cake: Indica hybrid strain crossed with Thin Mint GSC and Grape Pie
Jock Horror: Sativa dominant hybrid parented by Northern Lights and two other strains within the Skunk and Haze families
Pineapple Upside Down Cake: Hybrid strain crossed with Pineapple Trainwreck and Cookie Monster
Watermelon OG: Indica strain crossed with unknown parents
Rare Hindu: Cross between the Hindu Kush and Rare Darkness #2 OG
Blueberry Widow: Hybrid between Blueberry and White Widow
New States Legalizing Cannabis
The government is expecting another year of cannabis reform in the state legislatures. With this being said, there is an opportunity for major changes in the cannabis industry. Some states that are most likely to legalize recreational cannabis include:
Potential states that could legalize recreational cannabis include:
Potential states to legalize Medical Cannabis Include:
With the future being unknown, these are predictions that could happen in 2021, but only time will tell!
With new and uprising potential in the cannabis industry, comes along with new cannabis prices. The good news is, there will be a decrease in cannabis prices for those states that it is legal in. After the first year of legalization, there is usually a decrease whether it is medical or recreational. With cannabis becoming more normalized in society there creates an increase in supply and demand. If we look at trends from previous states that legalized cannabis you will see that their prices decreased after their first year. Unfortunately, in the new projected states that legalize cannabis, you will see an increase in prices, at least to start out while your states industry matures.
Future of Cannabis Business
The future of cannabis is unknown, but these are some of the projected things that have a high chance of happening in the cannabis industry.
Cannabis will be seen as the new normal: With various states slowly legalizing cannabis we can see a new mindset on cannabis within our society. In the year 2021, we hope to see progress towards cannabis become a new normal.
The market will do exceptionally well: The legalization of both medical and recreational cannabis is something that has been newly introduced to our society. With this being said, the cannabis market has the potential to flourish this year.
Cannabis companies will focus on operation and execution: For owners starting their cannabis business and getting their company’s name out was only the start. Now we will start to see these companies concentrate on the finer and more detailed things like the operation and execution.
See the consolidation of cannabis businesses: The cannabis industry is becoming a competitive environment for these new and upcoming companies. These cannabis companies will find new ways to consolidate their business.
Bigger companies will start to emerge: Similar to the section above, in 2021 we will start seeing robust cannabis companies rise to the top of the industry.
Increase in investing in cannabis: Investors are always looking for new products they can invest their money into. Luckily, cannabis falls under this category. This year it is projected that investors will support and invest more in this industry, which means better and newer products, safer lab testing and facilities, and an overall quality increase in products across the board.
For the best cannabis strains that will accentuate your state of mind, take a look at our Lifestyle Spectrum and menu. Stop by a top-rated dispensary near you in Seattle or Oklahoma City to meet with a cannabis guide that will help you find the perfect product to accompany your desired journey.