The demand for cannabis products has boomed, thanks to more and more states legalizing the plant for people to use medicinally and recreationally. Simultaneously, psilocybin and other psychedelics have come onto the playing field as possibilities to be utilized for various mental health conditions.
Although there’s still a way for the cannabis industry to go, an increasing amount of the population has begun to take note of the “shroom boom” and the possibilities for its capitalization.
With the legal landscape around the cannabis and psychedelics sectors constantly evolving, it’s definitely worth taking a minute or two and examining the synergies between these two up-and-coming industries.
The Cannabis Industry
A growing number of investors and entrepreneurs are looking to capitalize on this emerging market, with revenue projected to reach US$47.20bn in 2023, and is expected to show an annual growth rate of 12.69%, resulting in a market volume of US$76.12bn by 2027.
Cannabis has a massive therapeutic potential, which is one of the biggest drivers of the cannabis industry. Used for medicinal purposes for centuries, there is growing scientific evidence to support this herb’s efficacy in treating many different conditions, which include chronic pain, anxiety, and epilepsy. A range of cannabis-based medicines and wellness products have been developed as a result, from oils and tinctures to edibles and capsules.
The increasing demand for recreational cannabis is another factor contributing to the growth of the industry. A growing market for high-quality cannabis products is emerging, including dried flower, concentrates, and edibles. A variety of new companies and brands have hence been established, all catering to the needs of cannabis consumers around the world.
Despite its rapid growth, however, the cannabis industry does have quite a few challenges. Regulatory barriers, for instance, as well as supply chain issues, and legal and social stigma. But we anticipate the growth and evolution of the sector as more and more countries embrace cannabis legalization and regulation, which will create new opportunities for investors, entrepreneurs, and consumers.
The Emerging Psychedelic Industry
Although the psychedelic industry may still be in its infancy, there are a bunch of reasons to believe that psychedelics could be the next big thing in medicine.
One of the main indicators is that there are numerous studies that’ve been conducted over the years, proving that psychedelics like magic mushrooms and LSD can be extremely effective in treating depression, anxiety, addiction, and PTSD. The chemicals in these substances do their job by changing our brain’s default mode network, which leads to a temporary dissolution of our ego and allows us to feel a sense of interconnectedness with the world around us.
Investors and entrepreneurs are starting to sit up and take note as the legal landscape around psychedelics change. The emerging psychedelic industry is projected to reach $6.85 billion by 2027, and many companies are coming up with a variety of new therapies and technologies based on psychedelic substances.
Synergies Between the Cannabis and Psychedelics Industries
The cannabis and psychedelics sectors complement each other in many ways thanks to a variety of synergies between them. Natural items that have been utilized for generations for therapeutic and spiritual purposes are produced and distributed by both businesses. Due to the fact that many governments have just lately started to reevaluate their views on these drugs, they also have certain parallels in terms of the legal and regulatory difficulties they face.
The increased interest in the medicinal potential of these natural products is one of the major synergies between these two industries. There is a growing amount of scientific data that supports the usefulness of cannabis in treating the symptoms of chronic pain, anxiety, and other diseases, and it has been used frequently in this regard. Similar research is being done on the potential of psychedelics like psilocybin, MDMA, and LSD to treat a variety of mental health issues like depression, anxiety, and PTSD.
The expanding market for plant-based medications and wellness products is another area where the cannabis and psychedelics businesses intersect. A rising consumer demand for natural cures and medication alternatives benefits both businesses. As a result, a broad range of cutting-edge goods have been created, from meals and oils to tinctures and capsules, to deliver the medicinal advantages of these natural substances in an effective and secure manner.
The advancement of public education and understanding of the possible advantages of these drugs is another shared objective between the cannabis and psychedelics sectors. For consumers to make educated decisions about their health and wellness, there is an increasing demand for reliable, science-based information. Both industries struggle with stigma and false information. These two sectors may contribute to the development of a more educated and welcoming society where these natural chemicals are acknowledged for their potential to enhance the lives of millions of people by collaborating to advance research, education, and advocacy.
Finally, there could be chances for businesses in the cannabis sector to penetrate the growing psychedelic market. For instance, businesses that specialize in the extraction and formulation of cannabis may change their focus and create products based on psychedelics. In anticipation of a future decriminalization of psychedelic drugs, several cannabis entrepreneurs are proactive in producing products that contain the medicinal qualities of psilocybin mushrooms.
What Happens When You Combine Cannabis & Psychedelics?
Cannabis and psychedelics shouldn't often be used together since the results might be unexpected and even harmful. When used simultaneously, the effects of the two drugs might enhance each other's effects in ways that can be challenging to regulate. Both drugs can have strong impacts on the mind and body.
The possibility of adverse psychological consequences including anxiety, paranoia, and psychosis when cannabis and psychedelics are combined is one of the primary worries. Psychoactive substances like cannabis can make psychedelic experiences more intense, overpowering, and perhaps unpleasant. This might result in anxiety or paranoia, which can be challenging to control while using psychedelics.
The effect on cognitive function of mixing cannabis and psychedelics is another possible concern. When combined, these two substances can make it difficult to negotiate challenging or new circumstances, as they both have the potential to impair memory, attention, and judgment. This may raise the chance of accidents or other unfavorable outcomes especially while handling heavy machinery or when driving.
There is also some evidence to support the idea that mixing cannabis with psychedelics could raise the possibility of experiencing physical adverse effects, which include nausea, vomiting, and a fast heartbeat. For those who already have medical issues, such as heart disease or high blood pressure, this might be very worrying.
According to some proponents, cannabis and psychedelics are often used together, since it can enhance both drugs' medicinal effects. Cannabis is known for its ability to lessen anxiety and improve mood, which may help to lessen any worry or unease that could arise during a trip. Additionally, some studies have shown that mixing cannabis with other psychedelics might lead to deeper mystical experiences and an increased sense of connectedness.
Overall, however, it is typically not advised owing to the possible hazards and uncertainty involved, even if some people may believe that mixing cannabis with psychedelics improves their experience. Before combining the two drugs, it's crucial to proceed with caution and first consult a medical professional.
The Bottom Line
There are various potential synergies between the cannabis market, which is continuously expanding, and the new psychedelic sector. As a result, there may be potential for cannabis-related businesses to penetrate the growing psychedelic market.
It's likely that further connections between cannabis, psilocybin, and other psychedelic compounds will be discovered as research into the therapeutic potential of psychedelics progresses. It's an exciting moment to investigate the possibilities of both medicines and the possible advantages they might provide for mental health and wellbeing because both businesses are expected to develop significantly over the next several years.
These drugs can have strong effects on the mind and body, so it's vital to use caution and seek the advice of skilled specialists before using them. Overall, there is a lot of promise and possibility for the future of cannabis and psychedelics, and it will be interesting to watch how both sectors develop over the next years.
Sources:
https://canmar.io/blog/posts/what-is-thc-o-the-psychedelic-cannabinoid/
https://www.canadianlawyermag.com/news/features/why-psychedelics-are-not-the-next-cannabis/362504https://canmar.io/blog/posts/the-long-and-winding-road-to-psychedelics-legalization/
https://petrieflom.law.harvard.edu/research/the-project-on-psychedelics-law-and-regulation-poplar
https://herb.co/learn/cannabis-and-magic-mushrooms-a-surprising-combination
https://canmar.io/blog/posts/can-psychedelics-lead-to-increased-body-positivity/
https://canmar.io/blog/posts/cannabis-and-psychedelics-how-they-interact/
Monique Demes
Copywriter at CanMar