TrendSights Analysis: Sensory & Indulgence - Cannabis

TrendSights Analysis: Sensory & Indulgence - Cannabis

Summary

Cannabis is a natural ingredient believed to have a broad range of therapeutic and other functional properties. This has led consumers to become more and more interested in cannabis-based products, which in turn has pushed companies to invest in offering CBD- or tetrahydrocannabinol (THC)-based products. However, legal hurdles and negative publicity still affect large and small companies that are trying to enter or survive in the market.

The recent legalization of cannabis for recreational use in various countries around the globe has seen cannabis-infused products (containing either the psychoactive or non-psychoactive components) become popular among consumers. For example, the non-psychoactive element, cannabidiol (CBD), is claimed to have therapeutic properties and skincare benefits. However, these are subject to debate.

Scope

- Consumers' desire to try new and unusual ingredients, fragrances, formulas, and textures enables companies to offer CBD- or cannabis-infused products.
- Cannabis products can attract consumers interested in enhancing their health and wellbeing. CBD can allegedly help with reducing pain, arthritis symptoms, anxiety, depression, and epilepsy symptoms.
- Globally, there is still an underdeveloped regulatory framework for cannabis.

Reasons to buy

- Understand the role of the cannabis trend in shaping consumers' consumption priorities, attitudes, and behaviors.
- Compare the relevance of the trend in each industry across the FMCG space, and learn what the key opportunities are.