One of the most profitable cannabis business ideas isn’t growing the plant at all. Weed accessories are more popular than ever.
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The weed accessories business is one of the easiest to navigate, and most profitable, areas of opportunity in the legal cannabis industry. But unlike plant touching cannabis businesses, weed accessories producers are not subject to the same banking regulations and tough tax codes. With that in mind, an entire ancillary industry of cannabis products is in full swing. From longtime favorites to modern technologies, these weed accessories are dominating the market.
Vaping has surged in popularity over recent years. In California, vaping is more popular than smoking flower, according to a recent survey. This means that many entrepreneurs looking to establish a cannabis brand or build out their product line are focusing on vaporizers.
In addition to e-liquid vapes, dry herb vapes are also increasingly popular. Additionally, CBD vaping is on the rise following the passage of the 2018 Farm Bill which legalized hemp. As the CBD market booms, so does the CBD vape market.
The main benefit of vaping is portability: Out of all the weed accessories, vapes are by far the most travel-friendly.
Related: How to Vape It Till You Make It
Concentrates are one of the fastest growing cannabis products in 2019, coming in right behind CBD gummies and oil. Between 2016 and 2018, Oregon and Colorado experienced 128 percent and 66 percent increases in rosin sales, respectively.
The increasing popularity of live rosin, shatter and hash coincides with the increased popularity of dab rigs: glass weed accessories designed for smoking THC concentrates. Specifically, growing interest in concentrates is due to a more particular weed consumer. With concentrates, the user can experience a stronger high and taste more of the terpenes within the cannabis.
As the market grows and knowledge around the cannabis plant increases simultaneously, it makes sense that the market looking for weed accessories for a stronger smoking experience is increasing.
National cannabis consumption rates rose from 13.2 percent among non-college students according to the latest government census (2017). In other words, cannabis consumption is at an all-time high, and so is demand for essentials like grinders.
Today, there’s more than one type of grinder: There are models that fine-grind for vaporizers, two piece and three piece models, metal and plastic models, electric grinders, wooden grinders and more.
Not only are people turning from flower to concentrates, but there is more interest than ever in edibles. In fact, the edibles market in the U.S. and Canada is predicted to be worth an estimated $4.1 billion by 2022, according to a report from cannabis research firm BDS Analytics.
Today, herbal infusers are an increasingly popular way to make your own edibles at home. With them, you can infuse oils and butters with cannabis oil with precision.
Many weed accessories don’t have anything to do with smoking the plant itself. Storing herb in a sealed container not only contains smells but keeps it fresher longer.
Today, weed containers range from high-end wooden boxes to plastic containers that can easily fit inside a larger bag. There are UV resistant containers for more serious consumers, and wallets designed for smell-proof weed storage.
Weed Accessories: One of the Biggest Opportunities in Cannabis
Normal business considerations can be more challenging for weed producers. But manufacturing the accessories and gadgets that modern smoker needs are subject to an entirely different set of regulations.
With less complex laws but the same demand, weed accessories producers are more innovative than ever at meeting the consumer’s needs. Though there is still incredible opportunity in the cannabis accessories market, it grows more competitive–and saturated—by the day.