{"id":12765,"date":"2023-04-14T11:58:48","date_gmt":"2023-04-14T11:58:48","guid":{"rendered":"https:\/\/ultimatehealthreport.com\/cannabis-use-is-segmenting-so-are-the-investment-opportunities\/"},"modified":"2023-04-14T11:58:48","modified_gmt":"2023-04-14T11:58:48","slug":"cannabis-use-is-segmenting-so-are-the-investment-opportunities","status":"publish","type":"post","link":"https:\/\/ultimatehealthreport.com\/cannabis-use-is-segmenting-so-are-the-investment-opportunities\/","title":{"rendered":"Cannabis Use is Segmenting. So Are the Investment Opportunities."},"content":{"rendered":"
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Although wellness is not a new concept, a global pandemic helped bring it once again to the forefront. Not only are more consumers interested in wellness, but they are now viewing it through a wider and more sophisticated lens. <\/p>\n
It is no longer just about fitness and nutrition, but also overall physical and mental health. There are a wider variety of products available and customers are demanding clean, natural, products designed to improve health and well-being.\u00a0<\/p>\n
So, what does this have to do with cannabis? Everything! As perceptions change and social stigmas across age groups relax, a new sector is emerging. Somewhere between strict, medical-only use, and solely recreational use, is wellness. <\/p>\n
We\u2019re finding the cannabis industry targeting the self-care and wellness-minded consumer. This lucrative subsection of the billion-dollar cannabis industry will be instrumental in achieving mainstream acceptance of the plant. <\/p>\n
Furthermore, MJBizDaily<\/em> noted these wellness products have a greater appeal to those that intend to, but currently do not use cannabis.<\/p>\n Whether treating a specific medical condition, relaxing, creating mindfulness, exercising, substituting for other (less healthy) activities, or utilizing it as a beauty regimen, individuals are using cannabis for a variety of reasons and redefining wellness.<\/p>\n Many products that fall under the wellness label are categorized as medical. As this suggests, medical cannabis is splitting into two separate markets, medicinal to treat specific ailments, and wellness products for health and overall well-being. <\/p>\n Executives believe there is money to be made by capitalizing on both.<\/p>\n In 2021, 42% of cannabis users identified as medical consumers and 95% believed their conditions had improved with cannabis, with 56% reporting significant improvement. <\/p>\n The top five medical considerations consumers bought cannabis to treat were anxiety (41%), arthritis (29%), pain (29%), insomnia (18%), and migraines (17%). <\/p>\n Hundreds of millions of Americans experience each of these conditions; 20 million+ anxiety, 51 million+ arthritis, and 140 million+ pain, and many of them will consider trying it \u2014 particularly if existing consumers overwhelmingly report improvement.\u00a0<\/p>\n Wellness products for overall well-being, not specifically used for treating a certain condition, can be further delineated into subcategories such as relaxation and mental health, fitness, substitution, and cosmetics. <\/p>\n Consumer data from a research study conducted by New Frontier Data found nearly 23% of current cannabis consumers use cannabis to improve their overall health and wellness.<\/p>\n Wellness-specific uses for cannabis rank highest for relaxation (67%), stress relief (62%), reducing anxiety (54%), improving sleep quality (46%), and pain management (45%). <\/p>\n While many wellness uses are similar to medical uses, the key difference is that wellness consumers use cannabis for overall mental and physical well-being and support as opposed to use for specific conditions. <\/p>\n Men and women both report relaxation and stress relief as their leading reasons for cannabis use.\u00a0<\/p>\nMedical<\/strong><\/h3>\n
Wellness<\/strong><\/h3>\n