According to the Cannabis Business Times, sales of marijuana concentrates are expected to hit 8 billion dollars by 2022.
This emerging market is expected to outpace both the market for flower and edibles as it continues to grow. Mostly it’s due to the ease of use, the opportunity for discretion. Potency and portability of concentrates also bring in new users.
Marijuana concentrates offer a beginner-friendly and brand-identifiable opportunity for new customers to enter the market with confidence. Read on to learn more about the bright future of cannabis concentrates. And, find out why your company should be investing in equipment for extracts.
The Opportunity for Boutique Sales
If your business isn’t focusing on branding, then you are never going to get a decent portion of the marijuana market share. With so many stores now stocking name brands of cartridges, oils, flower, and concentrates, customers have an expectation of quality that they associate with their favorite brands.
The cannabis culture has always been one of loyalty. Customers often having the same dealer for their entire life. Now that marijuana is available in stores, that same loyalty doesn’t have to disappear.
If you can offer your customers consistent and creative compounds, then they will be more likely to continue to purchase your products. They also would be more likely to check out your entire line.
Putting your concentrates into cartridges offers a tremendous opportunity for branding and marketing. Make sure your packaging is appealing and your product is as pure as possible.
The Customer Base is Growing More Educated
With more states completely legalizing marijuana, customers are able to try all different kinds of edibles, concentrates, and flower. In the same way, as some people love to consume fine wine, they are beginning to notice different notes in their cannabis. Buyers are beginning to search for products that meet their need for high-quality flavor.
While concentrates used to be rare on the market, they have now become a regular part of the cannabis culture. More people are willing to try them than ever before. They realize that concentrates won’t impact their lungs at all. They are learning that it is a relatively healthy way to deal with a lot of health problems.
Nuances and Flavor
Weed concentrates are able to hold flavor much better than flower since they don’t have to be burned in order for the taste to be released. When you vaporize a concentrate, you release the flavor molecules straight into your mouth. They aren’t burned and then travel into your body through the smoke.
Since the flavors are more nuanced, concentrates also give you the opportunity to work on creating unique and exciting flavors to share with your customers. Where inventing a new strain of bud can take generations of a plant, mixing up a different concentrate is more like trying a different recipe for baking.
By creating a bunch of unique flavors, you can gain a following of loyal customers who keep an eye out for your next release.
Many people have started to use marijuana products as part of their daily routine. They help with a whole host of conditions. But unfortunately, using marijuana in public spaces and indoor locations is typically frowned upon. This leaves marijuana users feeling like second class citizens.
But with marijuana concentrates, they can take back their dignity and their seat at the table. Concentrates can be consumed with little to no vapor if you use the right setting. And concentrates also don’t smell as strong and their scent doesn’t typically stick to clothing. Because of that fact, people are able to use them without other people knowing it.
If someone is at the bar and they want to use concentrates in the bathroom, they can readily step into a stall instead of having to head out to the curb with the tobacco users.
This kind of convenience will bring a lot of new users to concentrates in the coming years because they are so much more accepted by society. New laws will eventually be passed dictating the use of vaporizers in public. But for now, they offer the opportunity for concentrates to have the advantage of discretion.
Where to Buy Equipment for Extraction
Marijuana concentrates are truly taking over the market. If your business doesn’t pay attention to this important stream of income, you could be losing a lot of potential sales.