10 takeaways from the nation’s largest cannabis trade show, hosted in St. Louis

Since its founding in 2020, the MJ Unpacked annual cannabis industry gathering has been much more than a trade show—it’s been a way to gauge trends and understand the overall state of the industry. This year’s event in St. Louis, September 3–5 at Union Station Hotel St. Louis, brought together the biggest names in the cannabis space, with scientists, brands, associated businesses, tastemakers, and entrepreneurs eager to share their thoughts about cannabis’ present and future, both near and long-term. Here are 10 takeaways and trends from the show.

1. Cannabis cuisine is a major focus for brands. Looking at all of the culinary-influenced offerings on the trade-show floor, one would be forgiven for thinking they had stumbled upon a food expo. This year’s MJ Unpacked was brimming with creative cannabis food and beverage offerings, including cotton candies, coffee, popcorn, stirables (which can be added to drinks for create cannabis cocktails), and even a THC-infused spice rub from a local Missouri maker. 

2. Federal decriminalization seems less likely than it has in recent years. While last year’s MJ Unpacked attendees were bullish about the prospect of federal cannabis decriminalization, this year’s mood was much more subdued—a feeling that now seems prescient given that on September 10, the House Appropriations Committee advanced a spending bill that prohibits the Department of Justice from using any funds to reschedule or remove marijuana from its classification under the Controlled Substances Act. Attendees are still hopeful that they will one day see decriminalization, but they do not think that will happen anytime soon.

3. The cannabis market is tightening. Over the past few years, as more states have decriminalized marijuana, entrepreneurs raced to be a part of the burgeoning industry. Now, what many dubbed the “green rush” is largely over, with many industry pros lamenting market oversaturation. It was common to hear attendees refer to a “race to the bottom,” referring to markets such as Colorado and Michigan, which arguably have too many dispensaries and growers for consumers to support. This means that price, not quality, is driving many decisions, as dispensaries focus on selling as much product as they can for the cheapest price. Missouri, however, has proven to be one of the few industry bright spots, thanks to its more stringent standards on licensing.

4. The “little guy” is getting squeezed out of the industry. In a recent interview with SLM, MJ Unpacked impresario George Jage opined, “I’d always hoped that cannabis truly could become an industry with a million millionaires, rather than a handful of billionaires. Small businesses are where innovation happens.” Jage expressed his concern that current trends may not be headed in that direction, and that sentiment was shared by several other attendees on the trade-show floor. The headlock that many states have on the cannabis industry typically allows for only so many players. Consolidation is happening, in Missouri and everywhere. Recreational cannabis opened the floodgates, and now larger cannabis companies are pondering how to prevent profit margins from dropping; smaller companies continue to champ at the bit to be more involved in legal cannabis ventures.

5. The push for inclusivity in the cannabis industry is waning. Last year’s MJ Unpacked devoted a conference room to microdispensaries, companies allowed to do limited cannabis-based business with one another, but not within the bona fide legal cannabis community. The program was designed to offer some compensation to minorities unjustly targeted by drug laws, drug offenders whose crimes became quixotic in light of legalization, and veterans. This year, as the Missouri cannabis industry tightens around issues of profit, there was no microdispensary alley. Several years after the program’s debut, the first microdispensary to join the big leagues opened in the Kansas City area this August. It is a hopeful development, but redressing America’s recent history with the plant in the form of monetized social-justice initiatives continues to be a work in progress.

6. New innovations in sustainability are making the industry greener. If cannabis confers relief from some negative symptom or imposition for users, many green-minded businesses have found ways to pass that relief along to the environment. One of the most impressive companies at this year’s MJ Unpacked was St. Louis-based Monarch Waste Co., whose “Vape Pen Takeback” program allows consumers to bring empty, disposable vapes to various area dispensaries and drop them in Monarch collection boxes. The North City company receives the vapes and recycles the lithium-ion batteries within them, which are particularly deleterious to the health of the planet if simply thrown away. In 2024, Monarch recycled some 131,000 batteries, which is one piece of the company’s yen for sustainability. Under its watch, plant trimmings and other natural waste from the cannabis industry are composted, and recalled cannabis products are carted away and broken down, too.

7. The Missouri cannabis market is an older market. Asked what makes the Show-Me State’s market stand out, many industry professionals at this year’s show had the same answer: Missouri’s consumers tend to skew older. While no one was quite sure why this is the case, everyone was quick to point out that this is a welcome thing in the sense that it makes for a more educated, savvy consumer.

8. Technology, including AI, continues to play a major role in the cannabis industry. From AI budtenders and innovations in vapes to advancements in growing and harvesting, technology continues to play a major role in cannabis. Many on the show floor welcomed its continuing role, noting that it’s leading to better quality cannabis in terms on the production side, and a more customizable experience for consumers.

9. Vertical integration is the key to a successful cannabis business. As cannabis entrepreneurs find the market to be tightening, vertical integration seems to hold the key to success—and a Missouri brand offers an ideal template for doing so. Dr. Kepal Petal, DDS, is a working dentist, but these days his work is mostly in running a vertically integrated galaxy of cannabis businesses from his Columbia, Missouri-based headquarters of Borealis Cannabis. The brand, which had a formal product launch in conjunction with MJ Unpacked, has a product line that includes flower, edibles, and, for the advanced-placement cohort, a live resin vape. The family of brands also encompasses the lower price-point Asteroid brand of flower, gummies, chocolates, vape cartridges, disposables, and pre-rolls. Petal also owns 13 Shangri-La Dispensaries in Missouri (most in the Columbia and Jefferson City areas) and several other states.

10. Women are playing an important role in the cannabis industry. While the talk at last year’s show centered on how women need to have a bigger role in the cannabis industry, this year felt like that time had finally come. From local organizations such as We Are Jaine to best-in-class vape brand Rove, women have become a vital, respected part of the industry. Additionally, women continue to make up a significant part of the cannabis market, and brands are recognizing this, with more products being launched that cater to female-identifying consumers.