Friday, August 12, 2022

The Surprising Role Millennials Play In The Cannabis Industry

As young adults, they watched the normalization of cannabis use mitigate negative stereotypes, and they have played a leading role in the emergence of the legal cannabis economy.

By Joana Scopel

Since 2012,┬ámillennials have been the pioneers of cannabis recreational adult use. This is extremely important not only to change society’s perception of marijuana but also to contribute to the evolution of the cannabis industry.

Currently, there are about 72 million millennials in the United States, which makes the generation the largest cohort by population. They also have proven to be open-minded to new experiences, hence, major drivers of social development.

smoking marijuana
Photo by Mayara Klingner / EyeEm/Getty Images

RELATED: Cannabis Use by College Students Seldom Tied to Negative Consequences, Concludes Study

According to Green Entrepreneur, millennials (individuals born between 1981 and 1996) are now between their late 20s and mid-40s and make up the largest percentage of cannabis consumers (38%), followed by Gen X (29%), then Baby Boomers (19%), and Gen Z (13%).

ÔÇťMillennials came of age when cannabis-related social attitudes and policies were changing rapidly,ÔÇŁ┬ásaid┬áGary Allen,┬áNew Frontier DataÔÇÖs CEO. ÔÇťAs young adults, they watched the normalization of cannabis use mitigate negative stereotypes, and they have played a leading role in the emergence of the legal cannabis economy, both as participants in the market and as champions for change.ÔÇŁ

In addition, millennials promote,┬áthrough their social media,┬áthe┬ábenefits of using cannabis and CBD products for stress, anxiety┬áand general wellness. Some of them also said┬áthey “use cannabis products as a replacement for medication.” They are also in favor of more regulation to ensure the safety, quality, and efficacy of CBD and cannabis products.

Compared to previous generations, millennials and Gen Z consumers are less financially secure. However, they still prioritize healthier, plant-based foods and brands across categories that are more purpose-driven.

smoking marijuana bong
Photo by photographer/Getty Images

RELATED: Adolescents Three Times More Prone To Marijuana Addiction Than Adults

In addition, the┬áCannabis Travel Association International (CTAI) projects millennials to make up 50% of U.S. travelers by 2025 when it likewise expects their cannabis consumption to be extremely normalized compared to any other previous time of their or older generationsÔÇÖ lives, according to New Frontier Data.

The role of millennials in this time of constant change, new cannabis regulations and the marijuana industry itself is essential for older generations to see cannabis as one more medicinal plant among many others, and to accept the cannabis plant as a gift that the earth gives us.

This article originally appeared on Benzinga and has been reposted with permission.

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