At PufCreativ, one of our many objectives is staying well ahead of the curve when it comes to bringing you relevant, vital information on everything associated with wellness and self-care. With the worldwide legalization of cannabis and hemp fully underway, making psychedelics (such as psilocybin) legal has now become the purpose of many advocates and activists. For researchers already familiar with their therapeutic potential, it is widely recognized that psychedelics have been the way of the pre-prohibition past and are certainly the way of the future — hopefully making for a society that is increasingly focused on using natural treatments for bodily and mental issues instead of synthetic, dangerous pharmaceutical drugs.
We believe in the power of psychedelics and their potential to be a total game changer in the mental/emotional lives of a vast number of people around the world. Read on as we dive into the history and potential benefits of psychedelics, their legal status in the U.S. and abroad, and the imminent challenge of marketing legal psychedelic substances.
Psychedelics: History & Potential Benefits
Just like cannabis, the historical presence of psychedelics can be felt in many different cultures throughout the planet. From the sadhus (holy men) of early India, to the native tribes that roamed the wild plains of pre-colonial America, to the ancient shamans of South America and beyond, there is certainly a tremendous amount of evidence that our ancestors very much relied on these ‘sacred’ substances for many reasons. According to the US National Library of Medicine:
Psychedelics (serotonergic hallucinogens) are powerful psychoactive substances that alter perception and mood and affect numerous cognitive processes. They are generally considered physiologically safe and do not lead to dependence or addiction. Their origin predates written history, and they were employed by early cultures in many sociocultural and ritual contexts.
As mentioned above, one of the best things about psychedelics is that they are not known to be addictive. Clinical studies from the middle of the 20th century and up to the current moment have shown that psychedelic substances such as psilocybin have been beneficial in the treatment of anxiety and depression, as well as alcohol and nicotine addiction, among other benefits.
Legality of Psychedelics in the U.S. & Abroad
Before we can talk about marketing psychedelics, let’s first look at their legal status in the United States and throughout the world. The first embers of psychedelics legalization in America came from individual cities such as Oakland and Santa Cruz, California and Denver, Colorado which have enacted legislation that decriminalized magic mushrooms (psilocybin) — thus carving a path for more research and understanding. The next big step happened when Oregon became the first state to legalize magic mushrooms, leading some to speculate that the country seems to be on the verge of a ‘psychedelic renaissance’, and we could not be more excited.
Around the world, we also see some tremendous growth and acceptance within the legal psychedelics sector. Countries that have legalized psilocybin include Samoa, the Netherlands, Jamaica, Bulgaria and Brazil; many more have decriminalized cultivation and possession, while designating that only dried mushrooms are illegal. There are also countries such as Canada, in which psychedelics are illegal but where a grey area exists in regards to their use and sale. An encouraging trend, indeed.
Marketing Legal Psychedelics
Now that we’ve outlined some background, let’s talk about the upcoming challenges of marketing psychedelics. Why is this such an important topic? Well, if the predictions are correct — the emerging legal psychedelics industry (along with bringing natural medicine to those in need) is shaping up to be quite the potential boon for economic activity:
The global legal market’s potential profitability may be another enticement for professionals. By 2027, it is estimated to bring in a staggering $6.85 billion, according to market researcher Data Bridge Market Research. In a press release announcing the bullish forecast, Data Bridge chalks up “growing acceptance of psychedelic drugs for treating depression and increasing prevalence of depression and mental disorders” as key drivers for the market growth.
– Forbes Magazine, Oct 2020
While it’s true that this forecast may be bullish, we believe that the wellness potential of psychedelics will skyrocket the market to go even further beyond that projected figure.
So, what are the challenges of marketing legal psychedelics?
#1. Inherent Advertising Obstacles
Just as with legal cannabis and hemp marketing, domestically, there will be a minefield of hoops to jump through when advertising on platforms such as Google or Facebook, for example, who will undoubtedly designate anything to do with psychedelics as ‘recreational drug use.’ Expertly navigating this landscape will be key.
#2. Limited Client Base
Since psychedelics are currently still federally illegal in the U.S. and have just a few exceptions at the city and state levels, the available client base is limited. Prospective brands would be wise to look to markets throughout the world for their efforts.
#3. Destigmatizing Psychedelics
Once again, just as with cannabis, the legal psychedelics market will have to do a tremendous amount of work to overcome the stigma generally associated with psychedelics. Brands who do well are ones who will be able to alter the narrative.
#4. Uncharted Waters
Perhaps the biggest challenge we see for businesses looking to head into the burgeoning legal psychedelics market — is the fact that because everything is so new, there is little to no precedent for strategy. This is why we recommend partnering with trusted brands when taking up your journey.
Why Choose PufCreativ for your Legal Psychedelics Marketing Needs?
Anyone working within the legal cannabis and psychedelics sectors will tell you, these industries are no cakewalk, especially for the newcomer. At PufCreativ, our team of experts has seen it all. Simply put — we’ve got the knowhow and the resources to guide you through the numerous pitfalls that come with the legal psychedelics sphere — helping you grow your reach, organically.
For any questions regarding the future of marketing legal psychedelics, please do not hesitate to contact us at hello@pufcreativ.com
