According to a recent article on Forbes, spending on legal cannabis worldwide market is about to hit $57 billion by the year 2027! In North America alone, we are going to see those numbers rise from $9.2 billion in 2017, to more than $47.3 billion a decade later
The Multi-Billion Dollar Marijuana Industry
The marijuana industry is booming right now. In fact, most people (64%) are ok with actually legalizing marijuana in the entire country. This is a huge deal, considering the fact that around 40 years ago or so the amount of people that were ok with this was only 16%. And the numbers are getting higher, a testament to the value and quality brought by this multi-billion dollar industry.
Another thing to keep in mind is that you can use cannabis legally for medical purposes in 29 states as well as DC. However, marijuana is also decriminalized in 7 states, a very important aspect for you to take into consideration.
Marijuana is only suitable for adult use where it’s legal. So even if there’s a good legal aspect there, you still have to obey some rules, so you really have to consider all of that. It’s definitely a very good idea to keep in mind and it does pay off quite nicely due to that.
The number of marijuana users is super high to the point that it becomes super exciting for people in the industry. Just California alone is set to grow to 6.6 billion USD by 2020 and $23 billion nationally. This means that the industry is actually booming despite some people saying that there will be problems within the industry. Of course there will always be people that will see downsides and potential problems. But even the small things count here, and the growth of this industry is extremely important.
What can we expect in the near future? That’s hard to say, but for the most part you will find that the marijuana industry is booming right now and things will only get better for the consumers. Of course this also brings issues because some people will still become addicted to it. But in a controlled environment this can really pay off and provide some rather impressive benefits. It all comes down to making the right pick and that’s the crucial aspect to consider in such a situation.
Whether we will find a lot of people using marijuana in the next few years, that can be a bit hard to say. But the possibilities are endless, and it all comes down to the adaptability of it all and how everyone focuses on stuff like this. It definitely does wonders, and it all comes down to the uniqueness of the entire approach. Naturally there will be some challenges as the industry grows.
But if everything is handled properly, results can be nothing short of impressive. Just remember, this is a huge industry and if every company follows the rules and focuses on legality, then results will be great for them. It’s definitely hard to figure out the right solutions in such a situation, but with the best approach the industry will shine. It all comes down to people gathering and focusing on marijuana legalization everywhere. Once we all do that and the government notices, marijuana legalization will not be a problem anymore. Even so, the industry is booming!
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