Cali: It's bigger than we thought
Brightfield Group's latest research has revealed that California's recent legalization of recreational cannabis could have a profound economic impact. Brightfield's projections show that by 2020 Los Angeles alone would sell $1.4 billion per year in legal marijuana.
According to Director of Research, Bethany Gomez, "Millennial medical marijuana patients spend almost $100 per week on cannabis, 16% more than older patients. Despite growing popularity of dabbing, 42% prefer edibles compared with only 21% for concentrates. In fact, baked goods alone are as popular with Millennials as all types of concentrates combined."
Let's get topical, topical
Papa & Barkley (P&B) have announced the release of its flagship Releaf™ line of topical cannabis products. Produced in Humboldt County, P&B combines "deep industry knowledge with modern science and a commitment to developing products with unmatched potency and quality." P&B products focus on whole-plant medicine and the "Right Ratio" philosophy. The Right Ratio premise is that each product has a specific profile of cannabinoids and terpenes working in concert to produce the maximum effect with the greatest result. P&B tests its profiles with cannabinoids derived from high-end strains of sun-grown flowers cultivated and processed in the Emerald Triangle of Northern California, the largest cannabis-producing region in the United States.
(Even) more Cali
OutCo has partnered with Monocle Research to conduct research on the new state of cannabis in California. Here's what they found:
- Marijuana consumables expected to grow to $11 billion by the end of 2017.
- Industry growth will be spurred by the entrance of 7 million new or returning marijuana users into the California marketplace.
- The rise of CBD use (a cannabis compound that has significant medical benefits). Many users and non-users expressed interest in the health benefits of CBD oils.
- As a growing user segment, millennials are replacing alcohol outright in favor of cannabis
Plug-and-play growing system
LEAF has announced the launch of a new Plug-N-Plant™ grow system, a smart home appliance that lets users grow their own cannabis, food and herbs from the comfort and convenience of their own homes. Designed to automate the time-consuming and tedious process of cannabis growing, LEAF connects to your smartphone to let you control all aspects of the home growing process remotely. The device is paired with a mobile app for iOS and Android that offers an easy-to-use interface and beautiful design. It also has the optional ability to connect to your home's water and sewage for automated watering. The LEAF unit costs $2,990 will be shipping in fall 2017; LEAF is currently taking online pre-order deposits of $300.