As the legalization of marijuana continues to grow, so do the trends. Whether you own a store-front or sell your own buds to retailers and manufacturers, it’s important to keep up with the latest products and tactics in this ever evolving industry.
To help you stay up-to-date with the cannabis market, we’ve compiled some of the top trends to look for. From CBD shampoo to cannabis insurance, the more you know means the more you can grow (your business, that is).
1. CBD Hair Care
From shampoo and conditioner to treating hair loss, CBD oil is being infused in a variety of hair care products. Research shows the fatty acids found in cannabinoids can help stimulate hair growth. These fatty acids can also help inflamed and irritated skin, making CBD hair products a great option to help treat dandruff.
2. Flavored Buds
From shampoo and conditioner to treating hair loss, CBD oil is being infused in a variety of hair care products. flavored buds can be fun to experiment with. The flavor comes from enhancing the soil and nutrients given to the buds during the growing process.
3. Infused Beverages
According to Fortune Business Insights, the cannabis-infused beverage market is expected to reach over $8 billion by 2027. This unique product takes a new spin on social drinking by cutting back on the alcohol and adding in a low-dose of marijuanna to create a milder high experience.
4. Delivery Services
After 2020 thrust businesses into a world of contactless pickup and delivery services, consumers are looking for simpler and quicker ways to get their favorite products delivered to them—even their weed. By partnering with companies like Leafly and California Delivery Alliance, you can allow more customers to find your products.
5. Cannabis Insurance
If you are considering adding a cannabis product to your business or creating your own, cannabis insurance is a must. It can help you avoid claims that may halt your business operations, damage your reputation, and jeopardize key partnerships. Cannabis insurance can help cover the thousands of dollars in legal fees and medical expenses you would typically be expected to pay on your own.
Many insurance companies refuse to offer cannabis insurance because of the high risks. This can make it hard to find a good policy. At Insurance Canopy, we have taken the time to tailor specific coverages to the unique needs cannabis businesses have. Our experienced agents are ready to help build a personalized policy, answer your insurance questions, and get the coverage your business deserves.
GROW TO NEW HIGHS
Keeping up with the cannabis demand can be tricky at times, but it allows you to try new products and expand your market. Don’t be afraid to put your own spin on some of these trends so you can stand out from your competition.
Most importantly, invest in your business with cannabis insurance. As the industry grows, so will the number of liability claims and marketplaces requiring you to have insurance. Start your free quote today and grow your business with Insurance Canopy.