Which Cannabis Products Will Reign Supreme?
Guest post by Greg Kunin, founder and Chief Product Officer of CTH
The boom has only just begun.
As the ability to legally purchase and consume cannabis has become more and more widespread in the United States, sales of recreational cannabis have skyrocketed from $351M in 2014 to $11.6 Billion in 2020¹. And this trend shows no signs of stopping.
Unsurprisingly, the explosion in cannabis sales has brought forth a host of players looking to get in on the action. As of 2020 there were more than 2,500 recreational cannabis brands fighting for a piece of the pie². And while it’s a very big pie, it’s not infinite, and many of those 2,500 brands won’t stay in the fight for very long.
Which brands will rule tomorrow’s recreational cannabis market? It’s impossible to predict right now. The field is too crowded, the future too uncertain. But if we look at the current inhalable product landscape, and the challenges those products will face from a business, regulatory, and adult consumer perspective, we can begin to get an idea, and possibly even start placing our bets.
Learning a lesson from e-nicotine.
Innovating isn’t easy under the best conditions. It becomes considerably more challenging in a highly regulated environment. Not only do you need to create a product that is both appealing to consumers and highly scalable, but you also need to proactively prepare to justify every aspect of that product to the…