Connect with us

Culture & industry

Marijuana Will Gain Millions Of Consumers Over Alcohol, With Sales Hitting $37 Billion By 2027, Investment Bank Projects

Published

on


A multinational investment bank says that marijuana has become a “formidable competitor” to alcohol, projecting that nearly 20 million more people will regularly consume cannabis over the next five years as booze loses a couple million drinkers. It also says marijuana sales are estimated to reach $37 billion in 2027 as more state markets come online.

An analysis from the firm TD Cowen says marijuana sales reached $29 billion in 2023, which is approximately 11 percent of what the alcohol industry brought it. That’s up from four percent just five years ago, and marijuana is expected to grow by another seven percent annually over the next five years.

“As such, we believe that over the next 5 years, the cannabis category will add 18 million past-month consumers, while alcohol will lose 2 million past-month consumers, as consumers increasingly embrace cannabis and temper their alcohol consumption,” the report, titled “Cannabis Beats Booze,” says.

Vivien Azer, team lead on the analysis, told Marijuana Moment that the report bolsters a growing body of market research.

“We’ve been calling for seven years now for cannabis to increasingly prove as a dislocator to alcohol sales—and, really, it’s just a matter of time,” she said. However, she said it was “a little surprising” to see data projecting an even greater underperformance for alcohol sales in legal marijuana states.

While marijuana sales are still just a fraction of the dominant alcohol market, analysts say that there’s reason to believe that booze could be “at risk” of declining because of increased substitution among consumers, particularly young people. The TD Cowen report cited a proprietary survey that found more than two-thirds of cannabis users report reducing alcohol consumption.

“In turn, we are seeing divergent revenue growth trends in states where consumers have access to legal cannabis,” it said, noting that Bureau of Economic Analysis (BEA) data shows alcohol is “underperforming” in legal marijuana states relative to prohibitionist states.

Evolving state marijuana markets, as well as yet-to-be-implemented laws in states that recently legalized such as Minnesota and Ohio, will bring in an estimated $37 billion in sales in 2027, the report says.

It adds that, in the short-term, it doesn’t seem that alcohol companies will have difficulty navigating the shifting consumer trends, which also involve mostly younger people generally reducing their alcohol intake. But in the medium- and long-term, certain brands may face competitive challenges.

“Alcohol will continue to underperform in legal cannabis states,” the firm said, adding that beer sales are most at-risk according to its analysis. The average number of drinks that people have in a given occasion “is lower in cannabis states, which we believe is partially attributable to the impact cannabis has had on alcohol consumption.”

While there’s been reporting about the alcohol industry’s interest in potentially entering the marijuana market, Azer said that she doesn’t anticipate a significant movement until there’s some “legislative or administrative” regulatory change at the federal level.

Piggy bank with cannabis next to it

While the report focuses on U.S. trends amid the state legalization movement, TD Cowen also looked at Canada, which legalized marijuana at the national level in 2018, as a “useful case study.” It found that Canadian cannabis sales are now 20 percent the size of the alcohol market.

Several of the report’s findings are supported by separate research, including a study published last month that found marijuana legalization may be linked to a “substitution effect,” with young adults in California “significantly” reducing their use of alcohol and cigarettes after the cannabis reform was enacted.

Data from a Gallup survey published in August also found that Americans consider marijuana to be less harmful than alcohol, cigarettes, vapes and other tobacco products.

A separate survey released by the American Psychiatric Association (APA) and Morning Consult in June also found that Americans consider marijuana to be significantly less dangerous than cigarettes, alcohol and opioids—and they say cannabis is less addictive than each of those substances, as well as technology.

Last year, a survey showed that Americans believe that cannabis is less dangerous than alcohol or tobacco.

State-level market data also reinforces TD Cowen’s analysis. For instance, Michigan marijuana sales outpaced purchases of beer, wine and liquor combined during the most recent fiscal year, according to a new report from the legislature’s nonpartisan House Fiscal Agency.

Also during the last fiscal year in Illinois, legal cannabis brought in $451.9 million—about $135.6 million more than alcohol.

Colorado last year state generated more income from marijuana than alcohol or cigarettes—and nearly as much as alcohol and tobacco combined. Similar milestones have been seen in Arizona and Washington State.


Written by Kyle Jaeger for  Marijuana Moment.

The post Marijuana Will Gain Millions Of Consumers Over Alcohol, With Sales Hitting $37 Billion By 2027, Investment Bank Projects appeared first on Weedmaps News.



Source link

Culture & industry

Organic farming and regenerative agriculture

Published

on

By


In the vibrant yet challenging landscape of California’s cannabis community, Sun Roots Farm is a rare gem situated in Covelo, California. Driving up its winding entrance will lead to a picturesque landscape, unveiling the incredible experience of visiting the farm’s gorgeous gardens. There, you’ll be greeted by towering cannabis plants reaching 12+ feet high and weighing an impressive 10 – 20 pounds each.

Founded by Forrest Gauder and Patricia Vargas, Sun Roots Farm is a testament to the resilience and integrity within the cannabis community.

Gina Coleman/Weedmaps
Owners Forrest Gauder and Patricia Vargas among Sun Roots Farm’s huge cannabis plants

By embracing a lifestyle around sustainability, they’ve created an enchanting, forest-like atmosphere with their approach, growing massive plants requiring a ladder for proper care. This landscape is common in Mendocino County, and due to dry weather, it makes for the perfect environment for growing colossal cannabis plants.

The founders’ vision of regeneration

Over the past 12 years, Gauder and Vargas have transformed Sun Roots Farm into their permanent residence. With its foundation rooted in regenerative agriculture, the couple not only cultivates cannabis plants but also tends to various vegetables, herbs, fruits, fungi, native medicinal plants, and perennial gardens. 

Gina Coleman/Weedmaps
Fruits, herbs, and vegetables grow healthy on the farm

To nourish their garden, they rely on contributions from their animals, with coops full of chickens and fields of alpacas serving as an exemplary model of regenerative agricultural practices. The farm aims to increase biodiversity and introduce closed-loop farming, where farmers recycle all organic material back into the soil and the farm. This system fosters a harmonious coexistence between the land and its inhabitants.

Exclusive seeds and strains 

The farm takes pride in its commitment to exclusive seed cultivation, a distinctive approach that sets them apart. Gauder described the process: “We grow all our plants from seed yearly. From the year before, we’ll select pollen and put it on certain plants to make new [strains] — we’ll then collect those seeds. By the middle of February, we’ll crack open the chosen varieties, starting them in a greenhouse … and propagating them until they reach five-gallon pots.”

Gina Coleman/Weedmaps
All Sun Roots Farm strains are grown from seed each year

The decision to grow exclusively from seed is rooted in the farm’s philosophy of embracing genetic variability and maximizing plant vigor. “The reason behind growing from seed … is the genetic variability,” said Vargas. “We grow exclusively from seed. Local breeding has played a pivotal role in shaping plants that are finely adapted to the valley’s conditions, showcasing positive characteristics such as mold resistance, pest resistance, frost resilience, and more.” 

Sun Roots Farm’s staple strain is Velvet Purps, bred locally over ten years ago. This strain descends from the valley and is made from various crosses by Gauder’s family and colleagues. Its origin begins with Jah Goo, crossbred with its brother T2 and Magic Bus, giving rise to a cultivar with impressive purple characteristics.

Gina Coleman/Weedmaps
Sun Roots Farm’s outdoor grown Velvet Purps

“The plant produces anthocyanins to protect itself, but it’s also purple,” explained Gauder. “You can find anthocyanins and all sorts of fruits and vegetables, too. It’s the pigment, the color. This compound has beneficial aspects when consumed by humans, like antioxidants, and it protects the plant. We had a bad frost a few years ago that destroyed a lot of gardens around here, but all our purple plants were just fine.”

Packed with trichomes and a captivating blend of berry and pine aromas, Velvet Purps luxuriously unfolds on the palate. This unique strain, locally bred and cultivated by Sun Roots Farm and a select few friends only, expresses a distinctive charm. Beyond its sensory delights, it delivers a tranquil and relaxing buzz, making it an ideal choice for evening consumption. 

In a market saturated with options, the exclusivity of strains like Velvet Purps emphasizes the farm’s commitment to offering something truly exceptional.

A farm dedicated to sustainable practices 

The farm is also Dragonfly Earth Medicine (DEM) certified. “To be DEM is to achieve a certification beyond organic through third-party verification,” explained Vargas, “It’s a community committed to intentional growth and the creation of closed-loop systems.”

Sun Roots Farm maximizes what the land naturally provides, whether it’s blackberry vines for tea or alpaca manure from their animals. “It’s similar to a homesteading lifestyle,” Vargas continued, “incorporating the cultivation of cannabis with an element of integrity into the product.” From closed-loop systems and water conservation to wildlife sanctuaries and companion planting, the farm is a testament to sustainable living techniques. 

Gina Coleman/Weedmaps
Chickens contribute to the sustainable practices used at the farm

Vargas also emphasized the importance of observation and mindfulness in their approach, “Take a moment to observe before you go ahead and start harvesting or before you go ahead and start crunching all over the earth.” Gauder added, “As long as we keep stuff covered in the garden, magic always happens. So we’re feeding the bugs, which eat the material on the ground that feeds the plants. It’s a continual cycle of life, rebirth, death, life, rebirth, death.”

The farm extends its commitments beyond the cultivation season. After harvest, they break down plants, mulch with oak leaves, and cover them with hay, creating a winter blanket that transforms into a layer of beautiful topsoil come spring. 

Gina Coleman/Weedmaps
Gauder lighting up a rose petal joint made from roses grown on their property

At Sun Roots Farm, a calming environment and sustainable living encourage a deeper connection to the products they make and the ones we consume. The farm is a reality where integrity, intention, and regenerative practices converge to create a sanctuary of sustainable cultivation in the heart of California.





Source link

Continue Reading

Culture & industry

8 cannabis gift ideas for your Valentine

Published

on

By


Valentine’s Day is around the corner, and if you’ve been thinking about the perfect gift for your sweetheart, consider these infused options. From boxes of stoney chocolate hearts to ultra-relaxing THC massage oils, there’s something charming and sweet for every type of cannabis consumer.

Love Drops from 1906 

Courtesy of 1906

Meant for everyone to enjoy and experience, 1906’s Love Drops contain a 2.5:2.5 ratio of THC to CBD. They’re made with the popular hybrid Blue Dream and a blend of arousing plants like Damiana and Muira Puama. 

Customer review: “So these really do work. I was skeptical at first because I had tried several other ‘arousal products’ that never affected me. LET ME TELL YOU THESE WORK. I took one last night and had the best … well, you know… of my life! I haven’t felt like that since I was 19. THANK YOU for these; they have saved my sex life.” — CherishL

Available: Colorado, Illinois, Massachusetts, Michigan, Montana, New Jersey, New York, Oklahoma, and Pennsylvania

Chocolate hearts from Soft Power Sweets

Courtesy of Soft Power Sweets

A stoney take on an age-old classic, New York-based Soft Power Sweets recently released a line of infused vegan and gluten-free chocolate hearts perfect for the edibles lover. These vintage-inspired High, I Love You boxes come with five heart-shaped chocolates, each containing 10 milligrams of THC. Find them at Verdi and Dazed dispensaries. 

Not in the mood for hearts? Check out the brand’s vegan Dulce de Leche Chocolate Caramels for an extra-sweet kick on V-day.

Available: New York

Massage oil from Evergreen Organix

Courtesy of Evergreen Organix

Each bottle of Evergreen Organix Intimate Massage Oil houses 100 milligrams of THC and is free of fragrance and harsh ingredients, so you can get down with your love whenever the mood hits. 

Customer review: “Picked this up in Vegas at Reef Dispensary, and WOW, that stuff was 100% worth every penny.” — JTM1973

Available: Nevada

Arousing strain: Bubblegum Kush

Gina Coleman/Weedmaps

Thought to induce feelings of arousal and intimacy, Bubblegum Kush is a popular pick for couples wanting to get closer. A cross between Bubblegum and an unknown Kush strain, it’s a tasty indica-dominant cultivar with notes of citrus and fruit. Roll it in a joint, drop it in a dab rig, or hit it from a bong before a cozy night-in. 

White chocolate bars from MKX Oil Co

Courtesy of MKX Oil Co

MKX Oil Co. goes beyond the usual dark and milk varieties with its smooth white chocolate bar featuring 100 or 200 milligrams of THC.

Customer review: “The white chocolate bar is made from some of the best chocolate money can buy. I could barely detect any THC in the taste, but definitely could feel the effects. This one’s already a favorite for me.” — jonpenn

Available: Michigan

Macarons from Hervé

Courtesy of Hervé

Skip the chocolates and go for these gorgeous hand-crafted macarons from Hervé. Your loved one will appreciate their beauty, delicious taste, and 10 milligrams of THC per treat. Bonus: they’re also gluten-free and dusted with real 23K gold for a touch of luxury. Find them in three flavors: Chocolate Ganache, Raspberry Buttercream, and Salted Caramel.

Customer review: “So tasty and just the right amount of lift. Will leave you wanting more.” — luckilycrazy88

Available: California

DrinkLoud Cucumber Haze THC Shots from Rove

Courtesy of Rove

Planning a date night at home? Whip up a couple of infused mocktails with DrinkLoud’s Cucumber Haze THC Shots from Rove. Each bottle contains 100 milligrams of THC and can be enjoyed alone, on the rocks, or mixed with lemonades, sodas, and sparkling waters. 

Customer review: “If you are looking for a tasty drink to float out into cloud 9. This is it right here! The cucumber flavor is a yummy & refreshing taste, and you can’t even taste the cannabis! I drank it straight from the bottle, it hit me fast. Munchies set in for sure. Be ready to lay back and enjoy the high.” — banananuts240 

Available: California, Massachusetts, Missouri, and Nevada

1:3 CBD:THC Releaf Body Oil from Papa & Barkley 

Courtesy of Papa & Barkley

Give your love the gift of relaxation with Papa & Barkley’s 1:3 CBD:THC Releaf Body Oil. Made with cannabis, fractionated coconut oil, jojoba oil, and other natural oils, it can offer rest and ease for those dealing with general muscle aches, pain, and inflammation. 

Customer review: “If you feel any sort of tension or tightness in your body, have a loved one rub some of this on you and feel the relief within minutes. The aroma of the essential oils work together with the cannabinoids to combat tension in the body without any psychoactive effects.” — GreatHeights

Available: California





Source link

Continue Reading

Culture & industry

7 best cannabis products for Game Day

Published

on

By


Hosting or heading to a Game Day party? Along with the usual beer, wings, and jalapeño poppers, consider bringing a few infused options for a stoney gathering with fans and friends. 

Good News and The Fifty/50 Buffalo Wing Sauce 

Good News wing sauceCourtesy of Good News

For a limited time and only while supplies last, cannabis brand Good News and Chicago sports bar The Fifty/50 are offering an infused mild buffalo wing sauce just in time for game day. Available at Sunnyside dispensaries in River North, Wrigleyville, Schaumburg, and Buffalo Grove, each jar contains 100 milligrams of THC — 10 milligrams per 1-ounce serving.

For the best experience, add one serving to your desired amount of wings and toss to evenly coat. 

Available: Illinois

Wyld 1:1 THC:CBC Blood Orange Gummies 

WYLD blood orange  gummiesCourtesy of WYLD

Made with real fruit, Wyld’s 1:1 blood orange gummies meld 10 milligrams of cannabichromene (CBC), thought to be an anti-inflammatory cannabinoid, with 10 milligrams of THC, resulting in a sweet crowd-pleaser that may also quell aches and pains. 

Customer review: “They have a pleasant aroma, a great taste, and offer good value for the money. Plus, they effectively help me relax my body.” — toni_lou

Available: Arizona, California, Colorado, Illinois, Michigan, Missouri, Nevada, New Mexico, Oklahoma, Oregon, and Washington

Strain: Jack Herer

Game day spread with weed and chipsGina Coleman/Weedmaps

Rolled into a joint, loaded in a pipe or bong, or dropped into a dab rig, Jack Herer is a classic daytime strain that typically gives way to an energetic and social buzz.  

Free Space CBD Seltzers

Free Space CBD seltzers 4-packCourtesy of Free Space

A collaboration between Missouri-based Proper Cannabis, 4 Hands Brewing Co., and Mighty Kind, Free Space is a line of CBD seltzers that offer a non-psychoactive and non-alcoholic alternative to the usual options. Sold as singles and in 4-packs, they come in Mango Passionfruit (20mg CBD) or Apricot Elderflower (10mg CBD).

Available: Missouri

Dogwalkers Play Mini Pre-rolls

Dogwalkers pre-rolls canCourtesy of Dogwalkers

Don’t care about the commercials? Take a break between plays with a few puffs from Dogwalkers’ Play mini pre-rolls. They’re the ideal size for a quick sesh so you can get back to watching the game. 

Customer review: “…these smoked so well, and I legitimately hit them when I walked my dog. They were the perfect length for a nice buzz” — CyrusPro

Available: ​​Florida, Illinois, Maryland, Massachusetts, Minnesota, Virginia, New Jersey, New York, and Nevada

Detroit Edibles Bee Sting Honey

Detroit Edibles Bee Sting HoneyCourtesy of Detroit Edibles

If you plan on honey-glazed wings or a sweet-and-salty snack mix for the game-day feast, consider mixing your regular honey with a serving of Detroit Edibles’ Bee Sting Honey. Each jar contains 100 milligrams of THC. 

Customer review: “Absolutely delicious, perfect blend between body and head high. Relaxing without being sedating, you can use this in a million ways! I always keep some on hand!” — Kayseepee

Available: Illinois

Ayrloom Unflavored Beverage Enhancer

Ayrloom Unflavored Beverage EnhancerCourtesy of Ayrloom

Simple and efficient, you can infuse any drink you like with Ayrloom’s unflavored beverage enhancer — it’s perfect for crafting unique mocktails if you’re not into beer. Each bottle contains 300 milligrams of THC.

Available: New York

The post 7 best cannabis products for Game Day appeared first on Weedmaps News.





Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media