Top Trends for Cannabis in 2022
With each passing year, the cannabis industry grows larger, as does the number of customers. This trend isn’t changing any time soon. So, to keep you ahead of the curve, Beard Bros. wanted to focus on the top trends the cannabis industry will expect to see more of in 2022. Feel free to drop them a line if they missed anything!
GROWTH, GROWTH, GROWTH!
It’s likely that all organizations will see consistent growth across all sectors. Brands have been learning how to work with partners in other states which will help accelerate growth this year. Product lines will also continue to expand especially with edibles and tinctures.
Tinctures are poised for huge growth in 2022! They make it easy to consume the health-boosting properties in plants – without needing to smoke, vape, or even eat them. CBD tinctures are among the most popular, available in serums, lotions, chapsticks, lubricants, and more.
LOWER CANNABIS TAX
Cannabis companies are taxed. A lot. California and Alaska in particular face huge tax issues. In Alaska, growers have to pay an $800 flat rate for cultivation. Most plants in Alaska have a $2000 value, so growers are losing almost half of their sales to taxes, before paying for regular business expenses such as their employees’ wages, utilities, property lease, etc.
In California, the taxes are so bad, many cannabis businesses are worried about an industry collapse. Efforts have been made over the years to improve the legislature, but none have been successful. So, why is it likely they’ll have better success lowering taxes in 2022? Simply because the industry doesn’t have any other option.