Cannabis Trend to Watch Out For in 2022

A brand-new year is dawning in less than a week. So, it’s Sayonara to 2021, and hello to 2022!

And such a transition begs the question, what does the new year hold for cannabis? From new products to market growth to legalization efforts, there are lots to anticipate over the coming months.

To offer some insights on the year ahead, the Cannawayz.com team put together a list of trends to watch in 2022…

Cannabis Product Category Growth

Cannabis flower has long dominated the cannabis market. But this is primarily because, after more than a century of cannabis prohibition, the black market focused solely on selling weed by weight.

As such, things like edibles, cannabis oils, and other cannabis-infused substances were either made by consumers themselves or sold as one-off specialty items.

But thanks to the expanding legalized market, new and novel cannabis products are emerging every day. Here are some product categories expected to see considerable growth in 2022…

Cannabis oils – Vapes are already big, but major growth is predicted for products like non-intoxicating solutions for pain relief.

Cannabis beverages – Everything from infused coffee, tea, and other soft drinks to beer, hard seltzers, ciders, and spirits.

Cannabis edibles – While already commanding a significant market share, demand for high potency edibles is expected to surge as cannabis Distillate (a refining process that renders high purity oil) enables manufacturers to increase concentrations in edible products.

Moving Beyond THC + CBD

THC and CBD have been the predominant cannabinoids since medical cannabis was first legalized more than 20 years past. In the recent past, however, alternatives like CBN, CBG, THCA, THCV have steadily invaded the market.

With increased consumer demand and growing research focus, cannabis products are destined to be further classified, categorized, and labeled using a more scientifically supported approach. The goal here is to market products explicitly based on their intended effects. Similar to the way prescription and over-the-counter medications are currently handled.

Cannabis Research & Development

As the legalization movement continues and the acceptance of cannabis as a valid medical treatment continues to normalize cannabis use, research and development will continue to scale up. Here are the areas expected to see particular focus…

Exploring alternative cannabinoids – Finding applications for CBN, CBG, THCA, THCV, along with uncovering additional cannabinoids.

New treatment applications – Research into further medical applications for THC and CBD as well as emerging cannabinoids, including new therapies for chronic and debilitating nerve disorders.

Expanding product categories – In addition to scientific and medical exploration, research will develop new recreational cannabis products and refine current products to meet growing market demand for greater variety and stronger concentrations.

Cannabis Provider Consolidation

Despite the continued federal prohibition, the cannabis trade grows bigger by the day. And as is the pattern with most emerging markets, the many little fish that blazed the trail are snapped up by larger, more organized, and better capitalized corporate entities.

Meanwhile, this is big fish swallowing up all the little fish scenario is precisely what’s happening in the cannabis market. Many smaller operators are struggling to survive in the face of increasing competition (from both their peers and larger establishments), sky-high regulatory fees, and hefty business taxes.

And in response, corporations are increasingly offering lucrative buyout packages to floundering businesses failing to achieve the financial returns they initially banked on.

Federal Legalization is NOT Likely in 2022

Several legalization bills are floating around Washington DC at the moment. Currently proposed legislation includes the Democrat-sponsored MORE Act, the Republican-led States Reform Act, and President Biden’s Build Back Better budget (which features the SAFE banking measure designed to allow cannabis business access to the federally insured banking industry).

Unfortunately, none of these proposals have strong enough support to pass both houses of congress. To make matters worse, President Biden doesn’t fully support cannabis legalization. And as a result, federal cannabis legalization is probably not coming in 2022.