The ongoing legalization of cannabis over the last decade has opened the door to research and exploration of medical and recreational benefits, not to mention increasing interest from consumers. As a result, more products than ever are available for consumer purchase, from flowers and vapes to edibles and concentrates. Pre-rolls are currently rising as product lines expand and consumers opt for convenience.
PharmaCann, one of the country's largest vertically integrated cannabis companies, is always looking for new ways to offer the safe, effective and affordable products consumers crave. With an eye toward providing the quality and convenience consumers want, PharmaCann recently launched matter. minis. These pre-rolls are available at Verilife and LivWell dispensaries, as well as other dispensaries through the company's wholesale team. So what can you expect with matter. minis, and why are pre-rolls changing the industry?
PharmaCann Launches New Pre-Rolls
PharmaCann's various pre-roll offerings are a popular choice among customers. These versatile and convenient products are a great choice for anyone seeking an easy way to store, transport and enjoy their favorite strains.
But matter. minis, the latest launch from PharmaCann, delivers the reliable and potent products you expect from this renowned brand but in a new, smaller size that's ideal for anyone who might not be able to consume a larger pre-roll (like a typical 1g joint) in its entirety.
So what makes matter. minis special? For starters, they offer the convenience of pre-rolls in a smaller size that many consumers prefer. Each package offers pre-rolls at a weight of 0.35g each — or just about a third of traditional 1g pre-rolls.
Additionally, every pack features a reusable glass tip attachment for convenient consumption. Glass tips are a great option for pre-rolls, thanks to material that won't conduct heat or transfer flavor. This means fingertips are spared from singeing, and when the tip is reused, it won't imbue new products with the flavor of previous pre-rolls.
Finally, matter. minis are designed for portability. They're sold in a small tin that can easily fit in a purse, backpack, or even a pocket, allowing customers to enjoy cannabis without bulky paraphernalia or awkwardly large packages.
Growth in the Pre-Roll Category
Cannabis is a $40 billion industry in the U.S., and pre-rolls are a popular market segment. While flower and vape products remain entrenched in the number one and two sales spots, pre-rolls come in at number three, and in 2023, pre-roll sales increased by over 13% in the U.S. What's driving this consumer purchasing trend?
Benefits Inherent to Pre-Rolls
Flower has long been a popular choice for consumption, thanks to a wide variety of strains and the ability to customize the amount consumed. It also offers the speedy onset of effects associated with inhalation (versus ingestion).
Pre-rolls deliver the same efficacy but lack some measure of customized consumption. To counter that, more sizing options are hitting the marketplace, and other benefits could drive interest in pre-rolls.
There's no denying the convenience of pre-roll products, which save time over rolling your own or packing a pipe and are significantly less messy. They're also portable and easy to store, and like flowers, they can be infused with concentrates to increase potency.
In addition, this product category has a multigenerational appeal. Millennials are the largest demographic choosing pre-rolls, followed by Gen X, Gen Z, and baby boomers.
Infused Pre-Rolls
One drawback of pre-rolls compared to flower has long been their limited variety. However, these days, pre-rolls offer new features that consumers find attractive.
Hybrid and infused pre-rolls are on the rise in the U.S. In 2023, infused pre-roll sales increased by over 19%, followed by hybrids, which saw an increase of nearly 5%. At the same time, sativa pre-roll sales decreased by over 23%, and indica dropped by over 18%. Hybrid sales also decreased, but only by 5%.
Options That Appeal to a Range of Consumers
Pre-rolls have always offered a level of convenience for consumers, paired with some of the many perks associated with flower, such as product efficacy and natural aromas and flavors. Now, pre-roll manufacturers are trying to bridge the gap between convenience and variety by offering options consumers are clamoring for, including varied sizing.
Smaller volume in particular can provide greater appeal for those new to the cannabis market. It's also great for long-time connoisseurs who want to explore different strains and products before they purchase higher product volume, such as 1g pre-rolls.
What's Driving the Growth of the Pre-Roll Market?
In addition to new product options hitting the market, there are several reasons consumers might have been leaning toward pre-rolls recently. For starters, there's the growth of the cannabis market in general.
Increasing legalization allows for market expansion, which not only boosts product innovation but helps to decrease costs for base products like flower and concentrates. This, in turn, supports the creation of more cost-effective pre-rolls, including infused pre-rolls that are trending upward.
Technological advances also play a role, with newer pre-roll machinery promoting increased production while reducing labor costs. Expanded product availability and a growing recreational market are also driving factors. Recreational cannabis sales are expected to reach $57 billion in the U.S. by 2028.
Expansion to Verilife and LivWell Dispensaries
The matter. brand earned a solid reputation for consistent, high-quality medical products that naturally segued into equally attractive recreational cannabis. PharmaCann is making sure consumers have access to these products by rolling them out in Verilife, LivWell, and other dispensaries across the U.S.
The mini pre-rolls are currently available in:
- Colorado
- Illinois
- Maryland
- Massachusetts
- Michigan
- New York
Plans to launch additional strains in each market are in the works, so customers who appreciate the versatility of minis will soon have new products to explore.
Consumers Win With Thoughtful Brand Expansion
The growing acceptance of cannabis, both for medical and recreational use, is looking more likely to lead to federal changes to existing laws.
The U.S. Drug Enforcement Agency (DEA) recently proposed reclassifying marijuana as a Schedule III drug (downgrading from Schedule I) in recognition of its medical benefits. With 70% of adults in favor of legalizing marijuana, additional changes could be on the horizon.
This is good news for consumers, who will likely enjoy increased access and affordability. Brands that strive to deliver the safe, effective and versatile products that consumers prefer have the best opportunity to remain at the forefront of this growing market.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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