The era of the anonymous “baggy of weed” is gradually receding, replaced by a blossoming world of packaging, innovation and branding. Cannabis companies are turning to purpose to drive differentiation in a crowded marketplace and create meaningful impact. From dog treats to seltzers, hemp-based plastic to menstrual care, cannabis marketing is finding its panacea.
A recent spate of legalisations and increased cultural acceptance is driving a boom in the cannabis industry, with global sales projected to reach
$55 billion by 2027. According to the
Pew Research Center, 62% of Americans – including majorities of Millennials (74%), Gen-Xers (63%) and Baby Boomers (54% ) – think cannabis should be legal.
Brands are successfully reaching a fast growing, diversifying audience by investing in product innovation and moving beyond the plant’s bud.
About a decade ago, approximately 80% of all product sales were attributed to the bud; now, that number is 47%. Increasingly, consumers are attracted to edibles, infused products and other manufactured cannabis goods. Innovation and storytelling is now centred around specific plant components, like hemp (the fibrous part left over from cultivation), CBD (the part that relaxes you) or THC (the part that gets you high).
The rise of lower dose, tasty products that you don’t have to smoke is attracting new audiences. When the world’s largest distributor of weed, Curaleaf, launched an infused seltzer in Massachusetts 50% of product sales came from consumers who were totally new to cannabis.
Curaleaf imagines that their infused seltzers could even replace that glass of wine at the end of a long day. Just as relaxing but no hangover, as recommended by
Bon Appétit and
Esquire in their top “happy hour high” lists. Products such as these easily integrate into everyday life.
But there is a problem. Yes, the weed industry is experiencing incredible growth, especially in the USA where cannabis has been reclassified from a Class A drug to Class C at a federal level, but that growth is making
mostly white men very, very wealthy. And there is a high risk of extractive monocultural farming methods given the sheer volume of land required to meet growing demand.
Thankfully, there are more and more companies popping up who are rooted in ethical and equitable practices of cultivation and distribution. Brands that recognise the power of weed to repair our communities. Repair our planet. And even repair our health.