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6 Predictions for the Hemp, CBD and Cannabis Industries

By February 2, 2021No Comments
predictions hemp

Following the 2020 election and recent cannabis bills that were introduced or passed in the United States, some would say that 2021 will be the biggest year yet for the cannabis, hemp and CBD industries. On election night, the United States saw a green wave. Arizona, New Jersey, Montana and South Dakota voted to legalize adult-use cannabis. And a fifth state – Mississippi – approved medical marijuana.

In upcoming years, there will be many opportunities for cannabis and hemp brands to shine. We at Fort Lauderdale- and Aspen-based public relations and marketing agency Durée & Company are here to help companies with their PR and marketing needs, utilizing our extensive cannabis practice and our established presence in this rapidly expanding community.

What will we see in the near future for the cannabis, CBD and hemp industries? By keeping a watchful eye on local and federal legislation, the D&Co Dynamos have put together the following list of hemp, CBD and cannabis predictions for 2021:

  • Federal legalization may be possible:

    With the Democratic party taking over the Senate, federal legalization may be on the horizon. Democrats previously pledged to push decriminalization if Joe Biden won the presidency. And now we may see important cannabis bills make their way to the Senate.

  • More investors:

    U.S. cannabis stocks have been on the rise with legalization in four new states. While the enthusiasm has followed the elections, we believe there may be clearer lines for investors, providing an opportunity for cannabis stocks to continue to soar.

  • Hemp testing standards may be established: 

    Something the cannabis, hemp and CBD industries have lacked is clear testing standards. Recently, we’ve seen lab shopping, where cannabis growers and CBD brands look for a facility that will provide favorable results, rather than accurate results. According to Roger Brown, president of ACS Laboratory, “False test results and lab shopping put cannabis consumers at risk.” We believe that in 2021 we might start to see third-party testing standards being put into place.

  • Cannabis jobs could grow:

    The global legal marijuana market size is expected to reach $73.6 billion by 2027, according to Grand View Research. As legalization expands to more and more states, the amount of jobs may grow. Cannabis is a labor-intensive market that involves farms, retail, cultivation, financial services, marketing, legal, security and more.

  • Minor cannabinoids might hit the market: 

    Ever since the 2018 Farm Bill made industrial hemp legal, CBD has exploded. In 2021, we expect to see other minor cannabinoids, such as CBC, CBG, CBN and CBT, hitting the market. As more research becomes available outlining the health benefits of these cannabinoids, its likely more products would enter the market.

  • Sales of edibles may skyrocket: 

    In 2020, sales of edibles skyrocketed across the nation, as consumers steered away from inhalable cannabis. This could lead to increased research and development surrounding edibles and prompt new product lines for 2021. According to the cannabis analytics firm Headset and Marijuana Business Daily, sales of adult-use and medical edibles grew by 60 percent across seven state markets, from $767 million in 2019 to $1.23 billion in 2020.

Since before the passing of the Farm Bill in 2018, D&Co has established an extensive presence in the rapidly expanding cannabis, hemp and CBD sector. We work with clients in these industries who are cultivating, manufacturing, producing and innovating with cannabis, hemp and CBD by leveraging these predictions to drive strategy.

Are you ready to make your cannabis, hemp or CBD brand stand out? Contact us today, or visit our cannabis- and hemp-specific website for more information.

Want to know more? Watch this video for a look at some of the clients and the media coverage we have secured.

 

About Durée & Company, Inc.

Durée & Company, Inc. is an award-winning, full-service public relations, marketing and special events firm founded in 1999. The firm has offices in Fort Lauderdale, Florida, and Aspen, Colorado. Durée & Company serves the corporate, agency and nonprofit arenas for local, national and international clients. Services include public relations, social media, marketing, digital marketing, content development, advertising, special events, branding, radio promotions, affiliate marketing and more. Durée & Company clients include well-known names in yachting, business, real estate, hospitality, travel, cannabis and hemp, wellness and CBD, art and culture, fashion, nonprofit organizations, legal and professional services. Durée & Company is a member of PR Boutiques International™ (PRBI), an international network of boutique PR firms. To learn more, call 954-723-9350; go to dureeandcompany.com; or visit its new, specialized cannabis- and CBD-specific site at cannabismarketingpr.com. Join the social conversation and follow Durée & Company on Facebook, Instagram, Twitter, YouTube, and LinkedIn at @DureeCoPR.

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Five Things That Need to be in Your Resume or Cover Letter

To paraphrase Jerry Maguire, help us help you. As we sift through the paperwork, here’s what we are looking for:

1. What you love to do and why.

In PR, you may love writing, editing, interviewing, pitching the media, researching, coordinating events, networking, posting to social media … whew! While we would love it if you had a passion for it all, we’d never believe you if you said as much.

What part of this zany, crazy, whirlwind, yet meticulous, tedious, detail-oriented, profession calls to you and why? Help us make the connection as to how PR is really for you, and call it your Professional Summary.

2. Something you did that changed something or someone else.

If you never showed up to your last job, what wouldn’t have happened? That’s right. Erase yourself. Now which clients disappeared with you? Which articles just fade away? What press releases cease to exist? How much social media did NOT get liked?

We are just meeting you. So take a moment to spell out your impact, and it will be easier for us to see what you can do for the clients of Durée & Company. Share this under your Job Responsibilities.

3. Anything you created.

Feeling humble? Well, stop it. This is the part where you brag. If you craft a delightful blog, master a mind-blowing website, shoot crazy video or direct wonderful events, show us.

Then tell us a bit of how you did it, so we trust that it was your brilliance and not the intern’s. Let’s dub this Your Portfolio.

4. An indication of why you belong here.

At PR firm Durée & Company, we have a culture. Really, all companies do. To learn about ours, do some legwork. At this point, if you’re on our blog, you are in the right spot to begin learning. Hate pink? Not good with women? Live in Kansas? Low energy? Then you might want to reconsider applying. However, if we resemble a group that you’d like to hang out with, share why. You can do that in the Cover Letter.

5. Correctly spelled words – all of them.

Do more than hit spell check. Know how to spell or ask someone to proofread. Correctly spelled words work everywhere, all the time. Consider them the Little Black Dresses of resumes.

So consider these five tips – we’ve just given you a “cheat sheet” about what we’re watching out for. Even if our position may not be for you, feel free to use our advice for another – it may just get you the job!