The BIG, NEW ‘Gray Market’ For Cannabis: Seniors

The BIG, NEW ‘Gray Market’ For Cannabis: Seniors

It is an enormously important trend for the legal cannabis industry. It’s also extremely ironic.

During all the decades of cannabis Prohibition, older citizens were much more likely to support this misguided law (and terrible public policy).

Older people tend to be more conservative. As a simple matter of age, they have also been subjected to more years of anti-cannabis propaganda from governments and the media.

Now (ironically), as cannabis is being legalized, it is older people who represent the largest potential demographic of new consumers for the cannabis market.

In a world of legalized cannabis, where cannabis fact is replacing cannabis fiction, this trend becomes obvious.

Cannabis is safe, non-toxic and non-addictive. In drug research, it has been found to have an extremely benign safety/tolerance profile. This makes cannabinoid-based drugs eligible for fast-tracking in clinical drug trials.

Cannabinoids, the active ingredients in the cannabis plant, occur naturally in the human body. Known as endocannabinoids, they are essential in promoting and maintaining human health.

This is why cannabis has been found to have so many medicinal applications. This is why cannabis has been also found to have numerous health-promoting properties.

Which demographic has the most health issues that require treatment? Older consumers.

Which demographic is most in need of general health promotion? Older consumers.

So who are currently “Canada’s fastest growing group of cannabis users”? Seniors.
 

People aged 65 and older are Canada’s fastest growing group of cannabis users, according to new data from Statistics Canada.

Surprise. Surprise.
 

StatsCan also found people older than 65 were more likely than other groups to use medicinal cannabis.

Totally predictable.

Cannabis is effective in treating many different health issues. But unlike the chemical drugs produced by Big Pharma, medicinal cannabis use produces no harmful side effects.

Consuming chemically-based pharmaceuticals tends to lead to even more usage of prescription and over-the-counter drugs – because of all those side effects. Medicinal cannabis allows people to minimize their drug use.

Medicinal cannabis is also an economical therapy for most medical conditions versus the astronomical prices of many prescription drugs.

Over the long term, older cannabis consumers will comprise the most regular (and loyal) demographic of cannabis consumers. This means that this higher growth rate in consumption can/will continue indefinitely.

Today, however, this is a mixed message for the legal cannabis industry. On the one hand, older consumers are destined to become their most significant market – especially as our populations continue to age.

On the other hand, only a small fraction of those potential users have discovered the benefits of legal cannabis to date.
 

Seven per cent of seniors aged 65 used pot compared to 10 per cent of people aged 45 to 65, Statistics Canada found.

Only one in 14 senior citizens currently uses cannabis. Only one in 10 adults aged 45 to 65 are consumers today.

What does the future hold for the legal cannabis industry in Canada (and around the world)? Watching those ratios reverse.

Today, the question still being asked by many potential cannabis consumers is “why would I want to consume cannabis?” In the future, that question will become “why would I not want to consume cannabis?”

Better sleep.
Better mood.
Better weight maintenance.
Better workouts.

And cannabis is also safe/potent medicine.

Cannabis can improve the quality of life for consumers of all ages. However, it’s the new “gray market” for cannabis where demand will likely rise the fastest going forward.

 

Published at Wed, 06 Nov 2019 11:00:07 +0000

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