The use of legal cannabis in the United States appears to be taking a different direction. The number of consumers interested in cannabis-infused products is increasing rapidly. One of the industry’s active companies, The Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF), has also signaled a growing demand for advanced and non-combustible ways of consuming cannabis.
Cannabis flower is still a preference for many compared to cannabis-infused products. However, researchers have high anticipation that the demand for non-combustible products will overtake the two over the next year. A projection by New Frontier Data, a global authority in business intelligence, shows that 17% of expenditure on legal cannabis in the US will be on cannabis-infused products in 2020.
The Influence of the Global Pandemic on Cannabis Purchasing Habits
The current coronavirus (COVID-19) crisis has impacted businesses and industries in different ways. The majority of them have lost business locally and internationally. However, the cannabis industry seems to have a beneficiary of the crisis, according to the founder and CEO of New Frontier Data, Giadha Aguirre de Carcer.
He said, ‘’as alternative ways to consume cannabis beyond combustibles gain popularity during the current coronavirus (COVID-19) crisis, not surprisingly we are seeing a spike in the consumption of edibles and other infused products.”
In March and as the pandemic’s spike began to rise, sales in the cannabis dispensaries across the country began to shoot. This improved the purchasing patterns and habits of legal cannabis, thanks to the wave of new customers who also took advantage of cannabis delivery services. This was for both recreational and medicinal cannabis.
Quality Is an Essential Factor in Purchasing Decisions
New Frontier Data emphasis that a product’s quality is key for consumers and determines their purchasing decisions, whether they are CBD or THC focused. They have varied expectations in terms of dosage, ingredients, and testing results.
Meanwhile, Hemp CBD products continue to gain popularity, perhaps because of their ability to uphold wellness. In 2019, retail hemp-derived CBD products made $1.2 billion in sales, and according to Hemp Industry Daily, the figure is likely to surge to $10.3 billion by 2024.