From Underground To Mainstream: Journey Through Evolution Of Cannabis Brands At Benzinga Conference

The cannabis industry has come a long way since its inception in the 1990s, evolving from an underground market to a legitimate and rapidly growing sector.

Over the past few decades, cannabis brands have played a pivotal role in shaping the industry's image, product offerings, and consumer experience.

The Birth Of Cannabis Brands (1996-2010)

In the late 1990s, medical cannabis gained legal recognition in California with the passing of Proposition 215. This marked the beginning of the modern cannabis industry and the birth of some of the first cannabis brands.

See Also: CPG Meets Cannabis: Insights From Industry Leaders At Bezinga's Capital Conference

These early brands were often small-scale operations, focusing primarily on providing medical relief to patients.

As the cannabis industry expanded, so did the competition. Brands began to emerge with unique product offerings and marketing strategies.

The Rise Of Recreational Cannabis (2010-2020)

The turning point for cannabis brands came with the gradual legalization of recreational cannabis across many states and countries.

This shift opened up new opportunities and challenges for brands looking to appeal to a broader, more diverse audience.

According to a report by Arcview Market Research and BDS Analytics, the legal cannabis market in North America reached $10.4 billion in 2018, a 31% increase from the previous year.

During this period, branding became crucial for attracting consumers. Brands invested heavily in product development, packaging, and marketing to stand out in a crowded marketplace.

Cannabis-infused edibles, beverages and vape products gained popularity. Brands like MedMen, Cookies and Canopy Growth made headlines.

2023: The Cannabis Branding Landscape Today

Fast forward to 2023 and the cannabis branding landscape has evolved significantly. With more countries and states legalizing cannabis, the industry has matured, leading to greater diversity in products and brands.

A recent survey conducted by BDS Analytics found that 42% of cannabis consumers in legalized states consider branding and product presentation when making purchasing decisions.

Today, consumers have access to a wide array of products, from artisanal craft strains to professionally produced cannabis-infused chocolates.

Brands are using innovative marketing techniques, emphasizing sustainability, and targeting niche markets to differentiate themselves.

The Future Of Cannabis Brands

As cannabis continues to gain acceptance globally, the future of cannabis brands appears promising. In the coming years, we can expect to see even more specialization, with brands catering to specific demographics and preferences.

The rise of low-dose and micro-dose products for those seeking a milder experience is just one example of this trend.

A report by New Frontier Data predicts that the global legal cannabis market could reach $55.8 billion by 2025, with branding playing a pivotal role in market growth.

See Also: 3 Tips To Empower Your Cannabis Business Through Financial Innovation

Join us for an engaging and informative panel discussion at Benzinga's Cannabis Capital Conference! We're diving deep into "The Evolution of Cannabis Brands: From 1996 to 2023" with a stellar lineup of industry experts.

Caleb Counts from Connected Cannabis, Angela Cheng of Elevate Holdings, Kenji Fujishima representing Dr. Greenthumb's, Marc Berardi from CCELL, and Tiffany Chin of Death Row Records Cannabis will be sharing their insights and experiences as panelists. Our moderator, Annie Davis from Growing Impact, will lead the conversation.

Don't miss this 40-minute session where we'll explore the fascinating journey of cannabis brands.

Benzinga Cannabis Capital Conference

The most successful cannabis business event in the world, the Benzinga Cannabis Capital Conference is happening on Sept. 27-28 at the Magnificent Mile Marriot Hotel in Chicago.

SEPT. 27-28. This is where DEALS GET DONE, money is raised, M&A get started and companies meet investors and key partners. Don’t miss out.

Secure your tickets now before prices go up.

Photo: United States Patent and Trademark Office