Today, despite its federal prohibition, cannabis has been legalized for adult use in 15 states and medical purposes in some form in 36. The expectation is that the global cannabis market will hit $73 billion by 2027, and, amid shifting attitudes, consumer support is at an all-time highâaccording to Gallupâs latest research, more than 2/3 of Americans believe it should get legalized.
But whatâs taking place on the ground in state-legal markets is even more remarkable. Cannabis appellation programs are getting established to support craft growers, and form factors now extend beyond just flower to include vape, edibles, topicals, tinctures, transdermal patches, capsules, sublinguals, and more. Dispensaries resemble Apple stores and boast budtenders that help consumers navigate product selections. And the brand mix is growing every day, ranging from the iconic accessible brands like Old Pal, to the luxury, with brands like Saint Jane or Lord Jones that resemble the likes of Hermès. The industry is maturing quickly, but a key challenge remainsâthe product mix can be overwhelming, and consumers donât know what to choose.
