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Millennials Are Fueling the Cannabis Economy

Millennials have killed the stoner stereotype and ushered in the cannabis economy, with over half saying they’re interested in trying a product with CBD in it. YPulse’s exclusive research breaks down the trend…

Brands’ opportunity to ride the weed wave is only growing thanks to young consumers. CBD and marijuana-infused products were on the precipice of a craze, when we began researching the Cannabis Infusion trend—and in the last year, weed-based products have appeared on the shelves of Sephora, CVS, Barney’s, Saks Fifth Avenue, and more. And with big beer brands, AriZona Iced Tea, and American Eagle currently working on their own cannabis-infused lines, it’s clear that the trendy ingredient’s aisle takeover is just beginning.

But how did this cannabis economy grow so big, so fast? Millennials have fueled the mainstreaming of weed by breaking stereotypes around cannabis and pushing for legalization. Around three in ten 18-36-year-olds have tried or experimented with marijuana, and almost half think it should be legalized for both recreational and medicinal use. The idea of marijuana users only being “stoners” is a thing of the past, with the majority of 18-36-year-olds agreeing that people can smoke marijuana and still being successful, and that people can use marijuana as effective relief from a high-stress job. Cannabis’ stress-relieving properties has become one of its greatest strengths for Millennials, who are part of one the most anxious generations: Close to half of 18-36-year-olds say using marijuana is a healthy way to relax. CBD (the non-psychoactive cannabis compound) has become the most buzzed about ingredient in multiple industries thanks to reports that it acts as a natural sedative and pain reliever when inhaled or ingested as an oil—and Millennials are on-board. The majority of 18-36-year-olds say CBD should be more mainstream, and that it can effectively replace painkillers. In fact, marijuana and cannabis ranked in the top 10 treatments, Millennials believe are very effective at treating pain and anxiety. The generation is even turning to cannabis to replace alcohol, with close to three in five stating that using marijuana regularly is better for you than drinking alcohol regularly. This sentiment has opened doors for industries selling and marketing wellness, with young consumers being most interested in CBD-infused foods, beverages, and beauty products. Download the Cannabis Infusion trend report for more insight how brands can join the “marijuanaconomy,” and check out an infographic preview of the report below: