New Frontier Data, a leader in cannabis data and business intelligence, has released a report that identifies distinct consumption patterns and examines market trends to provide insight into the trajectory of the US cannabis flower market.
“As product options expand and consumers are more intentional with their use, we’re seeing them complement but not replace their consumption of flowers,” said Gary Allen, CEO of New Frontier Data.
“It is especially important for flower brands to understand the resulting impact on demand for their products, identify the most suitable applications, and align their marketing and brand positioning to reflect their target audience’s preferences.”
Check out the main conclusions of the report:
– More than half of medical cannabis patients report that their conditions have significantly improved, creating positive experiences that are accelerating acceptance and adoption of medical use.
– Nearly half of consumers report daily use as product innovation and advancements allow for more convenient, discreet and accurate consumption.
– With combined U.S. legal and illicit sales estimated to be $97 billion in 2021, consumer spending on cannabis now exceeds spending on spirits and matches spending on beer annually.
– More than half of all consumers say they are eager to try new products, and this enthusiasm is creating opportunities for product innovation and targeted branding strategies.
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