What Is The Role Of Millennials In The Cannabis Industry?

What Is The Role Of Millennials In The Cannabis Industry?

Since 2012, millennials have been the pioneers of cannabis recreational adult use. This is extremely important not only to change society's perception of marijuana but also to contribute to the evolution of the cannabis industry.

Currently, there are about 72 million millennials in the United States, which makes the generation the largest cohort by population. They also have proven to be open-minded to new experiences, hence, major drivers of social development.

According to Green Entrepreneur, millennials (individuals born between 1981 and 1996) are now between their late 20s and mid-40s make up a larger percentage of cannabis consumers (38%), followed by Gen X (29%), then Baby Boomers (19%), and Gen Z (13%).

“Millennials came of age when cannabis-related social attitudes and policies were changing rapidly,” said Gary Allen, New Frontier Data’s CEO. “As young adults, they watched the normalization of cannabis use mitigate negative stereotypes, and they have played a leading role in the emergence of the legal cannabis economy, both as participants in the market and as champions for change.”

In addition, millennials promote, through their social media, the benefits of using cannabis and CBD products for stress, anxiety and general wellness. Some of them also said they "use cannabis products as a replacement for medication." They are also in favor of more regulation to ensure the safety, quality, and efficacy of CBD and cannabis products.

Compared to previous generations - baby boomers -, millennials and Gen Z consumers are less financially secure. However, they still prioritize healthier, plant-based foods and brands across categories that are more purpose-driven.

In addition, the Cannabis Travel Association International (CTAI) said that "Millennials to make up 50% of U.S. travelers by 2025 when it likewise expects their cannabis consumption to be extremely normalized compared to any other previous time of their or older generations’ lives."

The role of millennials in this time of constant change, new cannabis regulations and the marijuana industry itself is essential for older generations to see cannabis as one more medicinal plant, among many others and accept the cannabis plant as a gift that the earth gives us.
Photo: Courtesy of Leah Kelley On Pexels

Posted In: Cannabis Travel Association InternationalGary AllenGreen EntrepreneurNew Frontier DataCannabisMarkets

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