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In 2015, shortly after Colorado initiated recreational cannabis sales, marijuana operators faced a significant lesson regarding the strictness surrounding the term “organic” from state and federal authorities. Most operators had to change their business names to exclude the term.
The U.S. Agriculture Department is in charge of the organic label and has accredited third-party organizations to certify farmers and their farming methods. Federal prohibition kept marijuana from receiving official organic certification at the time, and it continues to do so despite developments in licensed cannabis operations.
Even so, there is a clear trend in the prevalence of cannabinoids such as CBG, CBN, CBD, and THC in a wide range of products, from face creams to mocktails, and they frequently have bold organic labels. Although hemp may be cultivated organically, things become complicated when you consider that Farm Bill 2018 legalized the derivatives of hemp that are intoxicating.
However, the marijuana industry, encompassing both high-THC cannabis and low-THC hemp, has significantly evolved since the inception of recreational sales in Washington State and Colorado a decade ago.
While marijuana cultivators and sellers made some mistakes in 2015 by prematurely claiming to be organic, the sector has shown encouraging growth. Marijuana is rapidly approaching its goal of obtaining a membership card in the $199 billion (and rapidly expanding) organic and natural food and beverage sector, in addition to the $22 billion market for organic personal care items.
In many respects, cannabis products have already become mainstream; you can frequently purchase cannabinoids derived from hemp at your local CVS or Sephora.
The impending federal reclassification, coupled with consumer demand and strategic lobbying, may prompt a paradigm shift, allowing high-THC cannabis derivatives to legally bear the organic label.
Looking ahead, several strategies can help companies adapt to the forthcoming changes and capitalize on emerging opportunities:
- Elevating manufacturing standards: Adopting CGMP standards regulated by the FDA will become increasingly common. This not only ensures product quality but also fosters consumer trust and market competitiveness.
- Seeking organic certification: While federal restrictions persist, preparing for organic certification aligns with consumer preferences for natural products. Investing in organic cultivation methods and sourcing sustainable materials positions companies favorably for future certification.
- Cultivating cultural acceptance: With a majority of adults in the United States supporting cannabis legalization, companies should focus on education and advocacy to destigmatize cannabis. Collaborations with influencers along with community engagement and transparent marketing practices can aid in shifting societal perceptions.
The potential economic impact of cannabis is substantial as the substances becomes a more widely accepted natural product. Cannabis enterprises may help make cannabis more widely accepted and successful by putting an emphasis on quality, sustainability and education. This will also open up new prospects for expansion and innovation. Possibilities are bright and promising for those prepared to adjust.
As entities such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) prepare themselves for a future of sweeping marijuana law reforms across the country, it is helpful to envision what the market will be like and position themselves appropriately.
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