The pandemic has made more people open to experimenting with other health and wellness remedies One of these widely used options is cannabis
Sales of legal cannabis in Canada peaked and climbed to nearly $ 245 million in August As far as scientific information goes, preliminary research at the University of Lethbridge has linked high-grade CBD as an extract – cannabidiol, the non-psychoactive cannabis compound – for the prevention of COVID-19
Even though cannabis in Canada is legal and consumer interest is at an all time high, laws from province to province and points of access and education vary. requires us to study the four waves of cannabis standardization to identify growth opportunities
After years of a ban, the first wave of legalization normalized the dried flower, the best-selling format today Cannabis 10 cannabis, oils, plants and fuel seeds legalized under a top-down mandate led by the government
A year after the legalization of cannabis in adults, new and diverse product formats hit the shelves of legal outlets We could now touch, smell, smell, taste, drink, vape or apply cannabis The second most important factor affecting our purchasing decisions after quality is format Despite obstacles, this wave has helped consumers, retailers and brands to take new steps The pandemic has allowed legal online retailing to rise flourish and pre-rolls, vapes and edibles have become popular formats
When technology and cannabis intersect to deliver real-time consumption data, we can create better products and medicines Virtual clinical trials on blockchain, data mining powered by AI and the Internet of Things have improved the effectiveness of medical cannabis Shoppers Drug Mart, TruTrace Technologies and Audacia Bioscience have innovated by advancing consumer and patient knowledge The Audacia Women’s Health Study Harnessed Uses and Effects Specifics of Cannabis Use on Women’s Well-Being Analysis of the uses and effects of cannabis across demographic groups is important because younger cohorts tend to use cannabis to manage psychological symptoms while groups of people tend to use cannabis to manage psychological symptoms. Older Age Consuming Cannabis To Relieve Physical Ailments, According To Report From Market Research Company Down Toronto-based Vividata, which analyzed data collected from more than 5,000 respondents
Once we discover compounds besides THC and CBD (there are around hundreds of cannabinoids in cannabis), we can make new breakthroughs Seventy percent of consumers express confusion between the THC and CBD, according to Vividata This fourth wave will be about creating new formulations of compounds to find treatments for major ailments and organizing recreational experiences that rely on various « entourage effects » to provide relief. THCA (known for its anti-nausea properties), CBDA (capable of inhibiting cell migration in aggressive breast cancer), CBN (anti-inflammatory), CBG (anti-depressant) are some examples of compounds that we have not yet exploited or experienced
Perched between Cannabis 20 and 30 of product innovation and technological advancement, and in the midst of a pandemic with controls restored, despite an increase in cases and fatigue from isolation, the trade is continues and product quality remains the main catalyst for cannabis consumers Cannabis use in the illicit market is declining but has not disappeared
Meanwhile, health and wellness use has skyrocketed, standardizing cannabis and retail innovation Valued at $ 4.3 billion per year, health and wellness cannabis targets four Canadians in 10 who use cannabis as a potential cure for depression and other ailments
As we ride the next two waves of cannabis-fueled wellness and innovation, we need to track and deploy reliable technology and science for responsible use and a safer future
Arundati Dandapani, MLITT, CMRP, is Founder of Generation1 and Editor-in-Chief of the Canadian Association for Marketing Research and Intelligence
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Cannabis, Cannabidiol, Tetrahydrocannabinol
News from the world – GB – Legal cannabis was considered a crazy industry until the pandemic hit us hard