Current State of
The Cannabis Industry
Introduction
The
cannabis industry is growing and becoming more accepted by the public and
government.
The
cannabis industry has seen rapid growth in the past few years, with recent
estimates suggesting it could be worth over $16 billion by 2022. The industry
is growing at a rate of about 30% per year and shows no signs of slowing down
anytime soon.
Global Expansion
As
you are probably aware, cannabis is legal in many countries now. The drug is
legal in over half of all countries worldwide. According to UNODC estimates,
this figure will only continue growing as more nations begin to decriminalize
or legalize cannabis.
However,
various challenges still face countries that choose to legalize the drug. For
example, many international organizations like the UN believe that legalization
will increase drug trafficking and crime rates around the world—and they could
be right.
They
also want to make sure they approach this issue with caution because it's such
a new idea, and there isn't much information yet about how best to proceed here
at home.
Increasing
Normalization
Cannabis
is becoming more and more normalized in society. This can be seen through the
increasing acceptance of medical cannabis and recreational use.
The
industry has also noticed a rise in CBD and hemp products, as well as studies
indicating benefits such as stress reduction and mood enhancement.
While
cannabis still faces many challenges due to federal prohibition at the national
level, some states have begun to legalize recreational marijuana for adults
over 21 years old with certain restrictions on quantity per purchase (typically
one ounce).
Consumer
Protection
You
may be wondering why the FDA does not yet regulate cannabis. There are two main
reasons for this:
- Cannabis is still a
relatively new industry, but it's projected to grow from $10 billion in
2018 to $24 billion in 2025.
- Cannabis has been
federally illegal since 1937, which makes it difficult for scientists and
regulators to study its effects on humans. However, some studies are
showing that cannabis can help with pain management and other conditions
such as epilepsy or PTSD (a disorder characterized by reliving traumatic
events).
The cannabis
industry is growing and becoming more accepted by the public and government.
The
cannabis industry has come a long way since it first became legal in the 1960s.
Now, marijuana is a multi-billion-dollar industry and one of the fastest
growing industries in North America—and it's likely to continue growing for
years to come.
The
reasons for this are twofold: People are becoming more accepting of marijuana
use, especially among millennials, who represent the largest generation today.
And
as more states legalize cannabis for medical or recreational use, there will be
greater acceptance across all ages--including older generations that may have
been previously opposed to legalizing pot.
Additionally,
with more states legalizing recreational cannabis use and other countries
following suit (Mexico recently legalized medicinal marijuana), we expect to
see an increase in spending on weed products over time-based on where you live.
Conclusion
In
conclusion, the cannabis industry is growing and becoming more accepted by the
public and government.
However,
there are several issues that should be addressed before we can see full
legalization across the world.
