How Will the Cannabis Industry Evolve in 2020
| Zaid A.
One of the fastest growing industries in the country is the cannabis industry. A myriad of factors make the industry prime for some major growth and some interesting evolutions in 2020. Certain factors could cause the cannabis industry to explode in growth this year, making it an industry that investors are keeping their eyes on. So if you’re already in the cannabis industry or plan to get involved soon, what can you expect from it this year? Here’s how the cannabis industry will evolve in 2020.
One of the main ways that the cannabis industry will evolve in 2020 is the increased business opportunities resulting from legalization. Many U.S states have begun legalizing marijuana at the state level, and it's only a matter of time until other states begin to follow. By the end of the year, several new states may have already relaxed cannabis laws or completely legalized. In addition, 2020 is a presidential election year in the U.S. Many of the top Democratic frontrunners support cannabis legalization, something that can greatly expand the cannabis industry. The stronger the legalization movement becomes, the bigger the cannabis industry will grow in 2020.
Something that is equally important to the legalization movement is the social perception of marijuana. Weed has long been thought of as a huge health risk and something with many detractors. However many recent studies have pointed to the exact opposite, citing many health benefits from consuming marijuana. Medical marijuana is being used to treat things like anxiety, depression, chronic pain, migraines, and seizures. In addition, recreational use of marijuana can be seen as less disruptive and safer than alternatives such as alcohol. As time goes on, the social perception of using marijuana continues to soften, leading more people to be willing to try it. In 2020, marijuana will be as socially accepted as it has ever been, leading to a massive boost in consumption.
A major trend in the cannabis industry is major cannabis companies going public. Cannabis stocks are becoming extremely popular, and many investors are trying to buy as many as possible. Many people believe the value of these stocks will skyrocket once marijuana is legalized in the U.S, and as a result there has been a flurry of investments in the cannabis industry. Don’t be shocked if you see more cannabis companies going public in the future, and it should come as no surprise when investors invest heavily in them. If you want to invest in the cannabis industry, now is likely the best time to do so.
As mentioned before, cannabis is relatively close to legalization and is becoming more acceptable in society. As a result, companies have been quick to capitalize by selling products that are related to marijuana and smoking. In 2020 it likely won’t be uncommon to see cannabis apparel on the market, as companies try to tap into new markets. Stoner t-shirts could be a great way for businesses to reach marijuana smokers and allow them to show off their stoner pride. However, apparel isn’t the only type of merchandise you’ll see a rise in. Compliments to marijuana such as pieces like bongs, bowels, and vapes will also likely see a rise in purchases. As the cannabis industry expands and grows, so too will marijuana related products.