Why There Is So Much Hype Around The Cannabis Industry
For as long as it has been in existence, Cannabis has always been a topic of discussion. It either gets you odd looks or nods of approval from members of society. The bottom line is that it is always being discussed. In recent times though, Cannabis is being discussed for a much different reason. Rather than focusing on its effects on those who take it, many are focused on the financial market of Cannabis and for good reason too.
In recent times, 11 out of 50 states have legalized the use of Cannabis for recreational use (limited to users over 21) and 33 states have legalized the use of medical marijuana and as wonderful as the benefits are, Cannabis has proven to be a very lucrative industry and here’s why.
Prior to Cannabis being legalized in a number of states, it has been in use and was seen as a lucrative industry. The approximate number of people that use or have used Cannabis is around 158.8 million people worldwide making up almost 4% of the world’s population and this generates a decent amount of profit for its dealers. Most of this income was under the radar (i.e. could not be taxed) and was only coming from the marijuana plant itself. Now given that the government is now aware of how much can be generated in tax from this industry, states are overlooking whatever bias they might have formerly had on Cannabis and embracing it. A number of states still are yet to legalize Cannabis but with the benefits that the industry provides in little to no time, it will be legalized all through America.
Many people, cooperate organizations, pharmaceutical companies, even confectioners, are delving into the industry because of what they stand to gain. The growing amount of users resulted in making Cannabis a $9.1 million industry in 2017 and the numbers have been increasing ever since. The projected sales for Cannabis-related products are believed to be well over $35 billion in just 3 years (i.e. by 2023).
The Cannabis market is still an untapped industry and thus is yet to be overpopulated. Every other month, a new product is being developed from Cannabis that either heightens the effect of the plant, maximizes its potential or both.
If there was ever a time to invest in Cannabis it is now. The market is primed and prices are sure to increase drastically once it becomes legalized all over the United States. In addition, the market still being relatively untapped leaves enough room to grow and promises exponential profit in years to come. Whether you are an individual or cooperation, thousands around the world are taking note of the booming market that lies in Cannabis, why not be a part of them by investing while it’s new. Invest wisely, hustle smart, and build yourself the life and business you desire.