With a slew of states legalizing marijuana usage, the weed industry is starting to grow up. Not only is it a multi-billion dollar industry — Arcview Market Research predicts that revenues will exceed $20 billion by 2020 — it is also increasing jobs and boosting tourism to certain weed-friendly locales. Time to get serious!
As part of its journey out of adolescence, the industry has now begun promoting appellations, much like wineries tend to in order to go head-to-head with competitors.
With legalization coming fast and furious to other states, it will be key for cannabis growers and sellers to be able to highlight their buds’ origin as well as its special qualities, in order to create their own proprietary branding.
“In Humboldt County,” notes the website sponsored by a coalition of pot producers, “great climate, diverse strains and years of growing experience work together to produce some of the world’s finest medical cannabis.”
Growers are worried about keeping their market share as legalization continues nationwide. They don’t want their business to go up in smoke. However, a marijuana consultant (yes, that’s a thing!), Leslie Boeskor equates the phenom with legalized gambling. When gambling legalization became more widespread, Atlantic City suffered because there’s only a finite amount of people who enjoy indulging in that particular vice. However, because types of pot can differ greatly, growers are hoping that eventually those partaking will begin to ask for their specific type by name.
What’s next — weed and cheese pairings?