EXCLUSIVE: 'Crossovers Like This Will Become Increasingly More Common' — Leading Cannabis Manufacturer CEO On Rising Marijuana Use

In a historic shift, daily cannabis consumption in the U.S. has now surpassed daily alcohol use.

A recent study published in the journal Society for the Study of Addiction reveals that by 2022, 17.7 million Americans reported using cannabis daily or nearly every day, compared to 14.7 million who consumed alcohol with the same frequency.

Bryan Gerber, co-founder and CEO of HARA Supply, the world's largest manufacturer of cannabis cones, noted that his company produces over 100 million pre-rolled cones monthly, reflecting this growing trend.

"Daily cannabis use surpassing daily alcohol use is a marker of a trend we've been seeing for years. More daily cannabis users will certainly lead to more sales, but that's not the only impact to pay attention to here," Gerber said. He highlighted that daily users have a higher tolerance and better knowledge of the cannabis market and their preferences.

Adapting to Consumer Preferences

Businesses need to cater to a growing and more knowledgeable consumer base. Gerber emphasized the importance of focusing on details such as the terpene profile of strains to appeal to these consumers.

As a leader in the smoking accessories market, Gerber's company, Hemper, recently partnered with Fred Segal to create a special line of smoking accessories. "Crossovers like this will become increasingly more common in the future," he noted.

Regulatory Changes and Market Opportunities

The increasing normalization of cannabis use is pushing for regulatory progress. Gerber pointed out that these trends overlap, bringing the industry closer to new milestones. He expects mainstream companies to show greater interest in collaborations with the cannabis sector, further integrating cannabis into broader market dynamics.

Benzinga Cannabis Capital Conference

Gerber will be a speaker at the upcoming Benzinga Cannabis Capital Conference, scheduled for October 8-9 at the Marriott Magnificent Mile in Chicago, IL. This event is known for its targeted content and networking opportunities, attracting industry leaders, investors, and policymakers.

The rise in daily cannabis consumption marks a turning point in U.S. substance use trends, with considerable implications for the cannabis market and regulatory landscape.

As the industry continues to grow and evolve, businesses and regulators must adapt to the changing demands and perceptions of cannabis use. Gerber's comments highlight the need for innovation and collaboration in this dynamic market.

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Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors, and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.

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Image: HARA Supply