Numbers don’t lie. And if it’s a good indicator of the outlook of the cannabis industry, then it seems that the future for cannabis production and consumption is very bright.
Vaporizers have created a new way for cannabis to be consumed without being noticed, whether it’s as dry herb or liquid. Usually available in two forms of cannabinoids, THC and CBD, cannabis is used to treat a wide range of medical conditions such as:
The need for medicinal marijuana has opened discussions and doors to a whole new market trend. It’s a market which seems to be growing exponentially and is set to become one of the largest investments of the future.
In the past year alonecannabis market investments increased from $178 million in 2017 to $1.23 billion in early 2018. With investment categories such as cultivation, production, sales, extraction, research, equipment, and licensing, the medicinal marijuana market alone is projected to reach USD $33.41 billion by 2022.
The medicinal and recreational use of marijuana is already being decriminalized in many states all over the U.S. and even in Canada. With legislations like the STATES Act andthe Access to Cannabis for Medical Purposes Regulations being created, the heavy cloud over marijuana use is dissipating, creating a welcoming environment for companies to explore the possibilities of the cannabis.
Companies such as Namaste Technologies Inc., Kaya Holdings Inc., InMed Pharmaceuticals Inc., and PotNetwork Holdings Inc. have long since established themselves within the cannabis market but still continue to adopt new ways to expand.
As expansions continue to take place, more jobs are created in the industry.According to New Frontier’s Data, there is currently an estimated 150,000 workers in the cannabis industry and 90,000 involved in related fields, and by the year 2020 around 300,000 jobs would have been created.
If a picture says a thousand words what do statistics show? There’s no denying that the cannabis market is an extremely fast growing one. And with the legal and political climate warming up to its medicinal and recreational use, cannabis is probably going to surpass some of the highest valued crops (wheat and corn) in no time at all.