What will legal weed look like in the next few years? These cannabis market predictions are already coming true.
With new products, untapped markets, and better access to research and capital than ever before, the cannabis market is in the midst of another record-breaking year of growth.
Overall, 2018 was a groundbreaking year of growth for the cannabis market. But expect the industry to expand through 2019 and into 2020 as a volatile market becomes more stable and mainstream, encouraging unprecedented investor and consumer confidence.
Here’s what investors and consumers should expect as the cannabis market matures.
CBD, also known as cannabidiol, a nonpsychoactive compound found in cannabis and hemp, came to the fore in 2018.
Specifically, the CBD market, which includes oil, gummies and other topicals, is expected to triple by 2022, according to New Frontier Data. This would make the market worth an estimated $1.3 billion, up from $390 million in 2018.
- Research and personal accounts show that CBD can help assuage everyday aches and pains and help treat serious medical conditions like epilepsy, Alzheimer’s disease, and more.
- Cannabidiol does not get you high. This means that unlike adult use marijuana, consumers can take it without unwanted effects.
- Though classifies as part of the cannabis market, CBD can be found in hemp, which is subject to an entirely different set of regulations.
In other words, cannabidiol can be produced legally and sold widely without contradicting federal law.
This translates to less stigma for consumers and a chance for producers and retailers to legally sell a cannabis product in all 50 states.
2018 saw a record year for cannabis legalization. But keep in mind that only ten states (and Washington D.C.) have actually …