5 Trends To Watch Out For In The Cannabis Industry In 2021
The cannabis industry has shown phenomenal growth. Here are the emerging trends that show the demand for the cannabis industry in the marketplace-
1. Growth In Cannabis Sale
The cannabis industry has witnessed considerable growth in recent years. As of now, 11 states have legalized cannabis, and more are likely to do so soon. Experts in the field believe that cannabis can grow even across 130 million dollars per year. This figure shows the possibility of growth in the cannabis industry.
2. More States Are In Favor of Legalizing Marijuana
Federal laws are the biggest hurdle for the cannabis industry. Somehow, state laws are taking lead for the cannabis industry. But complete legalization is not possible immediately.
Although people are more supportive of cannabis growth as they are aware of the potential advantages of medicines and plants. The recent changes in the banking laws somewhere simplify the cannabis industry businesses in 2020 and more investors are expected to be involved.
Legalization is another aspect of the strange trip that the cannabis industry has undergone in the US since the outbreak of the pandemic. Marijuana sales have increased during this period, mainly because of federal stimulus money and stay-at-home orders. There are high prospects of continued growth also.
Activists are trying hard to get cannabis legalized in more states such as Connecticut, Minnesota, New Hampshire, New Jersey, New Mexico, New York, and Rhode Island. Furthermore, recreational marijuana dispensaries are going to be legalized in Vermont soon. Possession and home cultivation of cannabis have already been legalized there.
3. Diverse Marijuana-Related products Are Available
As more time is being invested in research and development, there has been an expansion of more cannabis-based products in the marketplace. Cannabis industries have open new doors for different sectors such as food and beverages, medical marijuana, plants. Companies like Coca-Cola are playing a big role in beverages and planning to create a carbonated drink that contains CBD.
Even CBD edibles are popular and are more likely to increase the variety of products in the market. Moreover, these products are sold by companies that are not usually involved in the cannabis industry due to the federal system. Though the popularity of edibles is increasing, marijuana flowers will remain on top of the list shortly.
4. Use of Medical Marijuana Is Increasing
Researchers are working on the creation of compounds that can prevent cancer. Studies are still going on and the plant itself has these properties. Although scientists are trying to synthesis new compounds based on natural cannabinoids. These compounds are likely to be capable of having a stronger anti-cancer effect.
Moreover, CBD has antibiotic effects that may capable of treating antibiotic-resistant infections. It leads to the CBD cream development that has antibiotic properties and bacteria that do not appear to become resistant to CBD over time.
5. Varied Marijuana Compound In Plants
THC and CBD both produce a cannabis effect. However, in recent years, scientists have also found benefits from other cannabinoid compounds in the plant, such as CBC, CBG, THCV, and CBN. Furthermore, marijuana contains terpenes substance that has a significant impact on the psychoactive effects of different strains.
CBN is typically found in low concentrations of around 1 percent in marijuana. It is slightly psychoactive. However, it does not carry strong anti-anxiety and sedative properties. Gradually, people are getting aware of this compound and CBN supplements are going to be launched in the market soon.
CBC is a non-psychoactive cannabinoid that has various health benefits and uses in medical marijuana.
CBG form in either THC or CBD when it is exposed to sunlight. Many CBD supplements will infuse with the cannabinoid in the future.
THCV is quite psychoactive, but it presents in low concentrations. Also, THCV is quite different from delta-9-THC. It tends to create a stimulating, euphoric, and intense but short-lived high. It is an appetite suppressant instead of causing ‘munchies’ like THC. Once the awareness of this compound increases, strains will be bred to contain a high level of this compound, and THVC supplements will be created.