Ask The Thought Leaders: Where Will the Marijuana Industry be in 2030?
The future of marijuana is a heated topic.
Those who are pro-marijuana, highlight things like the medical benefits and potential government tax revenue while those who are against it highlight the potential risks for children and the potential to lead them into more serious drugs.
While the debates go on, we wanted to find out where the industry was headed. So we asked the question:
Where will the weed industry be in 2030?
Take a look at what we learned…
Jake Browne, Cannabis Critic for The Denver Post & Founder of The Grow-Off
“By 2030, smokeable marijuana will be a novelty as scientists will have created special blends of cannabinoids like THC and CBD, along with the associated terpenes that give cannabis its flavor, that precisely mimic the flower. You want Sour Diesel? There’s a vape pen for that. Not only will these synthetic strains be custom made to treat individual disorders, but they’ll also continue to create certain moods in users, not unlike Aldous Huxley’s Brave New World. Instead of a glass of wine after work, someone might take a couple puffs of Relax before making dinner. The social aspect of gathering with friends to share a joint will be gone, with a more individual experience becoming the norm.”
Sara Gullickson,Founder & CEO of Dispensary Permits
“If the industry continues to grow like weeds, we will see marijuana removed as a schedule 1 drug which will ignite a major shift in Marijuana’s social and cultural narrative. The reference to WEED will be forgotten and it will instead be referred to as cannabis and given the clout (not street cred) it deserves. Once the Federal Government accepts marijuana, we will see opiate deaths reduce substantially. Marijuana will evolve into an Exit Drug, not a Gateway drug, and will be wildly accepted for its medicinal and wellness properties. It will become a standard household item, and not just another highly profitable tax generator. Most importantly, we, collectively, as industry activists, business professionals, politicians, patients, responsible humans, will take the stigma out of a plant that has been used for hundreds of years and has helped millions of people with dozens of medical conditions and/or ailments.”
Craig McLane, Owner of Vaped.com
“The most significant change in the weed industry in 2030 is that it will be legal in all of North America and Europe. The greater public acceptance of cannabis will heighten the current trend of consuming concentrates in preference to flower. As the legal landscape changes big business will become far more involved and inevitably dominate most growing, processing, distribution channels for the weed industry. This will have the benefit of lowering consumer prices and improving the quality of the final product through increased regulation. The big business dominance will drastically alter the community aspects of the current cannabis culture and as a result the anti establishment segment of the community will deepen. This will result in a small but strong home grower segment which will continue to push for personal freedoms related to cannabis.”
Alex Milligan, Co-founder and CMO at Nugg & NuggMD
“The cannabis industry in 2030 is going to look dramatically different than today. At Nugg, we predict:
- Cannabis will be commoditized — mass production will have caused prices to decrease, large brands will be in perfect competition; a dedicated niche for specialty, artisan brands will flourish.
- National legalization and an acute distinction between recreational and medical marijuana; scientific research will have proven widespread medical benefits of cannabis.
- Cannabis mega-brands will exist on a global scale, as U.S. legalization will encourage other countries to follow suit.
- Hyper-personalized administration — AI, machine learning, and bio-sensors will come together to customize one’s medical cannabis regimen for maximum physiological benefit.
- Robotics and ag-tech will revolutionize how cannabis is grown & distributed, achieving economies of scale at rapid pace.
- Robotics (drones, automated delivery fleets) will cause home-delivery to be the primary method by which consumers acquire cannabis.”
Niki Romo, Creative Director for KronicSites
“As we continue to see the legalization of Marijuana grow in each state, there is no doubt that entrepreneurs, investors and venture capitalists are eager to break into the Cannabis industry and start new businesses. However, traditional marketing and advertising will still remain one of the biggest challenges for start-ups. So, I predict B2C companies like dispensaries and delivery services, are going to attract customers and increase revenue through mobile apps.
Approximately, 90% of push notifications and SMS messages are read within the first 3 mins which is significantly higher than emails which could take up to 7 hours to be read. Not to mention, businesses who want to offer loyalty programs can also do so through an app. Plus, since mobile users tend to never lose their phone it’s a more reliable way to retain customers, build new relationships and directly communicate with consumers.”
Jake Heimark, CEO at Plus
“Over the next 15 years, the cannabis industry will split between medical and recreational. There will be a small number of cannabis derived medicines that have passed FDA drug trials by large pharmaceutical companies. There will also be a large number of recreational companies selling cannabis and cannabis derivatives in a highly regulated environment (similar to alcohol distribution). Major pharmaceutical companies will have interests in the medical offerings. Major food, tobacco and alcohol producers will have interests in the recreational market. Most of the market by volume will be recreational, but there will be very high margins on the medical side of the market. Hopefully, there will be quality, large, institution led research backing the current medical claims of cannabis (it appears to help with seizures and some forms of cancer). Hopefully, there will be clear federal regulations prohibiting the recreational from making pseudomedical and nutraceutical claims without drug trials.”
Jay Currie, Author of Start & Run a Marijuana Dispensary or Pot Shop
“By 2030 the legal marijuana industry will have gone from a novelty to a mature agricultural and retail business. I expect the production side will be dominated by a few very large, multi-jurisdictional, factory growers producing marijuana on an industrial scale – think Budwiser or Coors. There will be room for more artisanal growers but the bulk of the industry will be on a very large scale.
On the retail side traditional retail outlets – Walmart, Costco, 7-11 – will likely sell pre-packaged marijuana in smokable and edible forms. Again, this is where the bulk of retail sales will occur. Boutique retailers and local chains of pot stores will compete for specific sectors of the business.
The price of ordinary marijuana will fall steadily as greater efficiencies are achieved in growing and distribution. Tax and banking law will be changed to reflect the reality of legal marijuana.”