I have only been in the cannabis game for a few months, which equates to 2-3 years in an industry of more maturity. If you follow along closely enough, and that is my role, you start to see themes emerge, and ideas dissipate, before your eyes.
When I was in the UK in October I discovered the CBD bubble there. CBD is a Trojan horse for cannabis. It normalizes the plant (in UK, hemp, a close cousin). Middle-class, middle-aged people go to the health store with their internet research in hand and make a purchase, for their back pain.
Fast forward 5 years, you have recreational legalization.
In Canada, cannabis 2.0 products – edibles, beverages – were the great hope to rescue the bubble burst of late 2019. It has been interesting to see the industry walk-back from the promises of 2.0. Delay, uncertainty, ‘more testing’, health concerns, supply chain issues…
We will get there, to non-smoking cannabis ingestion, but not in time for Christmas! The industry is slowing down from warp drive towards normal speed. For some, this concerns. For others, it showcases the industry maturation process, to be more considered, to walk alongside the stakeholders as we understand what the market wants and needs.
Either way, 2020 will be one heck of a ride in cannabisworld. This is a good summary of what happened this year and what to expect…
This Much We Know.