Predictions for the Cannabis Marketplace in 2023

Whendiscussingthefutureofthecannabis industry,financingandfederallegalizationare frontandcenter.ManymembersofCongress continuefiercelyopposingbankingreformfor thecannabisbusiness.Bipartisansenatorsare urgingthePresidenttosupportfederal legalizationin2023.Ifso,concreteactionswill finallybetakentoaddresstheseconcerns.

In2023,theremaybearecessionintheUnited States,andtheeconomywillstillbestruggling. Cannabispricesdecreasedduring2022,andit isanticipatedthattheoversupplyand problemswiththeblackmarketwillpersistinto 2023.Consequently,inthenextyear,mergers andacquisitionswillcontinue,ifnotbecome morecommon.

Despitethepossibilityoffewerlargescalemergersandacquisitionsin2023, therewillstillbeplentyofchancesfor smallerandmid-sizedcannabis businessestobeboughtoutbymore establishedfirms.Duetothedesireof manylicenseholderstoleavethe market,purchaseopportunitieswill arise,allowingsingle-stateoperators (SSOs)toincreasetheirfootprintsand multistateoperators(MSOs)togrow intonewmarkets.

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revealsthatDelta-8productsarealready erodingCBDmarketshare,with35%ofCBD customersreportingthattheyhadbought somepsychotropichemp-derivedeffectin thelastsixmonths.

Althoughthereportfoundthatitisstilltoo earlytoestimatetheimpactofDelta-8 products’increasedaccessibilityonthesales oflegalcannabisproducts,23%of respondentstoaBrightfieldGroupsurveywho usecannabisinstateswhereitislegalsaid theyplantobuyDelta-8productsinthe future.RisingDelta-8productsaleswill displacethoseoflegalmarijuana.

Industrysharewillcontinuetochange asyoungercustomersjointhelegal cannabismarket,andadult-usesales becomeavailableinadditionalstates. Youngercustomersspendmoreon vaporpens.Womenarefarmorelikely tobuytopicalsthanmen,whereasmen aremuchmorelikelytopurchaseflower.

Futurecannabisproductsaleswillbe influencedbychangingcustomer tastes,soin2023andbeyond, companiesmustcloselymonitorthese developments.

Studiespredictariseinmicro-business andconsumptionlicensesintheUnited States.NewYorkwillbeastatetowatch inthenextsixtotwelvemonthsand beyond.Thereisagoodpossibilityfor manysmallermom-and-pop businessesinNewYork.

Thereisagoodlikelihoodthat microbusinesslicenseswilloperateasa checkagainstsomeofthestates controlledbybiggerMSOs,butby bringinginsmalleroperators.