Twenty-First Century Innovation of Cannabis Products

Twenty-First Century Innovation of Cannabis Products

Andrisha Beharry Ramraj, Mxolisi Ngcobo
Copyright: © 2023 |Pages: 15
DOI: 10.4018/978-1-6684-6346-8.ch004
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Abstract

The topic of cannabis has been widely researched over the years, but still remains a controversial yet interesting field of study. As an industry, the cannabis industry has evolved and developed over the years. The plant was previously utilized mainly by individuals for personal consumption, but following much research and development into the topic it has now become a lucrative market. Some countries have legalized cannabis or have gone through the decriminalization process. In recent times, the recreational usage of the cannabis plant has become a major source of interest as more investment and research has been made into the industry as a means to innovate more recreational cannabis products. There are now cannabis products like oil, beauty and skin care products, beverages, chocolate, capsules, gummies, and dog treats. The chapter is based on a qualitative approach as the aim is to gather a greater understanding of the phenomenon and provide insight for future research.
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Background

Cannabis is made from the desiccated flowering heads and leaves of a plant called Cannabis sativa (Chouvy & Macfarlane, 2018). The plant is utilized as both a medical and a recreational drug. The usage of cannabis is regulated and banned by the government in some countries or states. Most countries around the world have legalized the use of cannabis for medical purposes but only a few have legalized the use of cannabis for recreational purposes. Countries like Canada, Netherlands, Spain, Uruguay and South Africa are some of the prominent countries to legalize the use of cannabis for recreational purposes (Uwakonye, 2020). There are instances where there are contradicting viewpoints within countries like the USA, where states have different legislations with regard to the usage of the cannabis plant (Chouvy & Macfarlane, 2018). Regulators are pressured by lobby groups and businesses to change the regulations with regards to cannabis as the plant is already prevalent in the unregulated black market and yet the industry demonstrates huge economic potential. The decriminalization of cannabis for medical and recreational purposes has resulted in a surge of investment in the industry as businesses are seeking to innovate with products that yield an exceptional return on investment.

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