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Report: Rec marijuana consumers use less alcohol, pain medications, sleep aids
Sourced From Marijuana Business Daily:
A new market research report has confirmed that marijuana consumers in states that have legalized recreational cannabis use less alcohol, over-the-counter pain medications and sleep aids.
The findings suggest that the cannabis market may be larger than many grasp. If some consumers are replacing alcohol or pain medications with marijuana, that indicates there may be millions more potential customers that cannabis companies have yet to reach.
The report, compiled by Chicago-based High Yield Insights, found that more than a fifth of rec MJ consumers use less beer, spirits, painkillers and sedatives than standard consumers.
More precisely, legal recreational cannabis consumers use 27% less over-the-counter pain medications, 22% less sleep aids, 21% less alcoholic spirits and 20% less beer than consumers in states that have not legalized adult-use marijuana.
“We are just starting to grasp how legalization has impacted consumer behavior, be it spending, usage occasions or shopping habits,” Mike Luce, co-founder of High Yield Insights, said in a news release.
“Understanding these changes will lead to new growth opportunities for cannabis and further disruption for other categories.”
According to Luce, the report “uncovered promising consumer niches for the industry as well.
“For example, many older consumers (55+) are re-engaging with marijuana, with 56% reporting a return to marijuana after having tried cannabis products at a younger age.”
Anxiety Relief Without The High? New Studies On CBD, A Cannabis Extract
As more states legalize marijuana, there’s growing interest in a cannabis extract — cannabidiol, also known as CBD.
It’s marketed as a compound that can help relieve anxiety — and, perhaps, help ease aches and pains, too.
Part of the appeal, at least for people who don’t want to get high, is that CBD doesn’t have the same mind-altering effects as marijuana, since it does not contain THC, the psychoactive component of the plant.
F.D.A. Panel Recommends Approval of Cannabis-Based Drug for Epilepsy
According to an article from the New York Times,
A Food and Drug Administration advisory panel on April 19, 2018 unanimously recommended approval of an epilepsy medication made with an ingredient found in marijuana. If the agency follows the recommendation, as is expected, the drug would be the first cannabis-derived prescription medicine available in the United States.