Cannabis companies are hopping on the rainbow Pride bandwagon and selling to the LGBTQ market, one of the most powerful markets as the industry continues to grow with legalization. For cannabis companies, understanding this consumer is important, considering the LGBTQ market is estimated to have $5.4 trillion in spending power globally.
A 2015 survey from the National Institute of Drug Abuse, shows that members of the LGBTQ community are twice as likely to use cannabis compared to heterosexual individuals. While the statistic may seem surprising, people in the LGBTQ community experience mental and physical illness at a higher rate and may use cannabis to deal with the marginalization they face.
However, the fight for equal rights for members of the LGBTQ community and the legalization of cannabis may have more in common than you may think. Both groups have a deep intersecting history on their journey to becoming mainstream.