Recently, I had the opportunity to sit down with one of the leading U.S.-based hemp and cannabidiol (CBD) producers for Smart Money Results. Covering various angles in the “botanicals” market, the discussion was one of the most informative I’ve enjoyed in some time. When it’s released, I’m sure you’ll come to the same conclusion.
In my research leading up to the interview, I came across a realization that those unfamiliar with the market may not know: the portfolio of available cannabis products is quite diverse. And this diversity is just one of many catalysts that will see the legal marijuana industry increase in scope.
Presently, cannabis products have somewhat of a troublesome reputation. That has improved over the last decade. For instance, the Pew Research Center reports that 62% of Americans support marijuana legalization. This is mostly true for the millennial demographic, where some 74% support marijuana legalization.
However, almost every generation supports the legality of cannabis products. The only outlier is the “silent” generation, or those born between 1928 and 1945.
But I suspect that even they, who are generally much more conservative, will open up to cannabis products. That’s because this industry has dramatically evolved from pop culture stereotype to a viable and robust market.
“Evangelism” and Cannabis Products
Although the federal government bans any language linking cannabis products to specific health claims, many users swear by them. As such, they’re incredibly inclined to share the CBD and hemp-based therapy message with their family and friends.
But without product diversity, this would be a much more difficult proposition. Imagine trying to share a joint with your grandmother. I’m sure that conversation won’t go down very well.
But CBD tinctures? These are liquid-form cannabidiol extracts that are typically applied sublingually, or underneath the tongue. Moreover, manufacturers offer several tinctures that are non-flavored or organically flavored. As a result, you can apply them to your favorite beverages or dishes.
Better yet, companies have made it a point to package their cannabis products discreetly. For instance, Spiro’s Full Spectrum CBD Oral Drops (tinctures) are almost generic looking. This helps ease the stigma associated with botanically sourced substances.
In other words, you should increasingly find more mainstream acceptance for cannabis in the years ahead. Product evangelism has never been easier for this sector. And that bodes well not only for the consumer industry but for the investment proposition as well.