Infused Cannabis Drinks – The Next Big Boon or Bust
Everybody that wants to make money within the booming cannabis industry is looking for the “next big thing”.
Cannabis, as we know, is nothing new. We have been eating it, drinking it, smoking it and using it for thousands of years. However, once governments around the world decided to make it illegal, the diversified means of consumption were limited. For the most part, people either smoked it or ate it in the form of brownies and so forth.
Of course, there was a smaller niche within the cannabis community that utilized it for its medicinal purposes; however, that notion only translated over to the rest of society in the early 2000s and beyond.
These days, the medicinal properties of cannabis is well known by a large portion of society. The recreational elements of cannabis is also becoming widely accepted. As a result, we have seen thousands of new products become known and while infusing drinks with cannabis is nothing new, it’s gaining traction within new demographics joining the cannabis culture.
Why is drinking Cannabis so appealing?
Infused beverages provide several benefits to consumers. For starters, those who do not appreciate “smoke” would be more inclined to drink it. Additionally, drinking cannabis also opens up the space for public consumption such as in bars and restaurants.
Where smoking cannabis can be smelled a mile away, no one would be the wiser if you’re sipping on some refreshing cannabis beverage.
Drinking cannabis also provides a milder effect than eating it. Of course, you could still get absolutely blazed from drinking cannabis, however, it’s much easier to regulate consumption based on “sips” as opposed to “chunks”.
Measuring how much you’re consuming is another key aspect that appeals to consumers. How many times have you had “a brownie too many” only to be overwhelmed by the high. Of course, there is no danger in overconsumption when it comes to cannabis, however for those who would like to have a more controlled experience; drinking cannabis is still one of the best options.
It’s simply an easier way for people who are not familiar with cannabis to get introduced to the experience.
Why Drinking Cannabis will be the next big boon
Smoking, eating, vaping or extracting cannabis will never go away. It’s engrained into the minds of a large portion of cannabis consumers. However, considering that drinking cannabis provides so much appeal to people, we can take a deeper look at why people will flock to drinking cannabis for recreational purposes.
Firstly, as mentioned earlier, the availability to get these drinks into public spaces such as bars, cafes and restaurants open up the marketplace quite a lot.
People have already been conditioned to “drink their drugs”. Alcohol has been the dominant drug of choice for the masses and to translate the cannabis experience in a familiar setting allows people to be more ‘open’ to the idea of trying something new.
With roughly half of the population in the US admitting to drinking alcohol within the past month, we can estimate the “regular drinkers” at roughly 160 million consumers. This compared to the roughly 50 million regular cannabis consumers, gives us a margin of about 100 million potential cannabis consumers.
This increase translates to billions of dollars for the industry.
Of course, there is no way of telling whether these consumers would go to cannabis as opposed to alcohol, however, it isn’t too far-fetched to think that they would at least try it.
From personal experience as a heavy drinker in my youth, cannabis entirely replaced my habit of drinking over the course of a few years. These days, I might have an alcoholic beverage every now and then, but I don’t like to get “drunk” because of the side effects the day after.
Cannabis also can be combined with other substances such as caffeine, juices, teas and so forth. This opens up the marketplace even further.
A low dose of cannabis-infused coffee might just be the thing you need to be relaxed yet alert throughout the day. The possibilities are endless.
As mentioned, I don’t think that the rest of the consumption methods would ever go away or become non-important, however the infused niche within the cannabis market provides immeasurable opportunities.
The annual market value for non-alcoholic beverages in the US is roughly $18 billion. Cannabis infused drinks would find a decent sized market somewhere between alcohol and non-alcoholic beverages.
Many people are considering entering into the cannabis market, however you need to look towards the future of the cannabis industry, analyze consumer trends and find out how you can position yourself within the new marketplace.
What we’re seeing today as the cannabis industry will definitely not be the same within the next decade. Once all the restrictions on cannabis is lifted, the industry will flourish into something completely different. Analyzing the trends and understanding consumer behavior will be key to getting into the “cannabis game”. Keep your eyes on the infused-beverage market.