The subject of this post is a simple plant that anyone can grow easily in their yard on a personal basis, yet an entire commercial industry has sprung out of new legislation. Never before has there been such a boom in such a short time as when the legal marijuana movement began in the US.
It is thought that if all fifty states throughout the country were to legalize the cultivation and subsequent sale of the popular plant, that it would become one of the leading industries, and could possibly become bigger than the organic food industry. We’ll take a look at the 3 reasons behind the success of this new industry.
1. Companies Are Capitalizing on Cannabis
As with any new industry, the cannabis market offers significant potential for investors, and many are indeed capitalising on this. There are plenty of opportunities for businesses to make money, whether they are selling CBD oil, accessories for cannabis use, advice for those seeking cannabis for medicinal purposes or supplying the plant itself. With cannabis becoming more and more sought after because of the health benefits and simply because the country is opening up to its use as a recreational drug, the industry is only going to grow and grow and many are jumping in now to make as much as they can. It is all good, though, this is an industry that needs to grow. Take a look at the benefits of cannabis if you need convincing.
2. The Adult Use Market is Huge
Much of the rise in the marijuana industry is because adults are turning to the plant for recreational use. It is thought to provide many of the things that people like about alcohol without so much of the risk to health. Users claim that it helps to lower their inhibitions, helping them to relax and enjoy social occasions. It is also often used as a tool to unlock creativity and to help users feel more energized. If you are interested in how marijuana could help you, you could head to trimleaf.com to check out their range of products.
3. The Medical Marijuana Market is Growing
The cost of drugs and healthcare have caused many seeking medical help in the US to turn to marijuana. Indeed, there have been numerous studies that have found the plant to be beneficial in the treatment of cancers, anxiety, multiple sclerosis and other health-related conditions. This is why more and more states are legalizing marijuana for medical use, and one example is New Jersey. However, marijuana is legal even for recreational use, so people who have a medical marijuana card obtained in New Jersey can have fewer purchasing restrictions. As we find out more about the benefits of the plant, the marijuana market is only ever going to increase. We wrote a post recently about the benefits of using CBD oils, this explains the benefits that marijuana can have for our health.
A look at the Cannabis Market Figures
It is thought that the value of the legal marijuana market will reach $146.4 billion by the end of 2025. It is thought that much of this growth will come from the medicinal market, with cannabis being much sought after for cancer treatment or to help sufferers of chronic pain. When growth like this is being predicted it is inevitable that more and more investors will crowd the market. It could almost be a self-fulfilling prophecy.
Don’t Forget the Hemp Market
Hemp is a version of the marijuana plant that does not contain anywhere near the amount of THC, the chemical in the plant that alters the brain. It has been used for years in beauty products and has many health benefits. Many are eating hemp seeds or drinking hemp milk and this looks set to be a part of the industry that will grow alongside the marijuana plant.