Women Entrepreneurs Influencing the Cannabis Industry

Posted on 2019-02-05 at 03:56 PM

     

By newsroom


Once a male-dominated industry, the cannabis world is slowly evolving to include women in a big way. Since legalization and explosive growth in Canada, USA and many other parts of the world, more and more cannabis companies are being led by women. The rising number of female entrepreneurs and consumers are creating a cultural shift with healthcare products in the forefront, reports Cannabis Maven in an article on the subject in their website.

This was visible in the Cannabis and Hemp Expo in Ottawa held late in 2018 that included seminars for a host of activities such as cooking with cannabis and cannabis wellness products. The seminar also talked about female participation in the industry.

Cannabis Companies Led by Women

Megan Cornell, CEO of Momentum Law, predicts that the true range of potential cannabis-infused products is absolutely vast. From infused teas and bath products to candles and creams — products are geared toward wellness and style, and their market success could be driven by female customers and investors, she feels."Women have less of an association with a smoked product in the cannabis industry," she said. "It's something that's clearly associating with the health and wellness industry right now very, very strongly."

Autumn Shelton, an owner of a California cannabis company called Autumn Brands thinks “cannabis brands are waking up to the fact that their biggest growth potential for their products is in the health and wellness sector, and their largest potential market consists of women who are the major healthcare decision makers and purchasers in households."

As awareness grows, more and more people are embracing CBD-rich cannabis products for medical purposes for themselves, their children, senior members in the family and their friends. “Self-care is taken very seriously by women, who are the fastest growing segment in cannabis,” notes Shelton. “This is an exciting time for women and the industry,” she adds. "We formed Ellementa to address the lack of information about cannabis and CBD specific to women's health needs and their roles as caregivers. We find that cannabis companies with women at the helm are more mindful of the female customer and are producing products specifically with her in mind."

Women are Key to Product Decisions

Autumn Brands started as a medical collective. The company is women-dominant and self-funded. Shelton says that women are key to product decisions and their company infrastructure.

Kelly Bruce, Founder and President of CannaMommy NonProfit that provides women with safe access to natural medications such as cannabis and CBD bath bombs, shares similar sentiments. She says that the plant's ability “to support several aspects of the female needs (menstrual pain, endometriosis pain, menopause pain, childbirth pain, etc.), make it a market floodgate for products. During a time period like a #metoo movement, females are taking back their bodies on many levels and cannabis is just another one. It’s incredible to see the female-led companies and products coming up. I hope that as this industry (like the plant) continues to grow, so do the opportunities and funding for fem-trepreneurs.”

Sherman added that while numbers and projections of cannabis’ billions of dollar potential differ depending on the source of information, one consistent factor to consider is that women are sometimes ignored in the equation.





 

 

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