Cannabis has been considered a taboo for the longest time, not only in the United States but the rest of the world as well. Today, two-thirds of American states allow the medicinal or recreational use of the plant. To most people in these states, cannabis has a precious commodity. On the other hand, experienced businesspeople see new laws as a prosperous opportunity.
Cannabusinesses Are Thriving
Investors in the United States are pushing the limits of the cannabis industry more than ever. In 2019, some cannabis stocks saw jumps of at least 50%, and many other larger ones have seen a triple- or quadruple-digit percentage rise from 2016.
It comes as no surprise that a fair portion of this success comes from the flower itself. Not only are people smoking cannabis for recreational purposes, but many are turning to the plant as an alternative to prescription drugs for chronic pain, glaucoma, anxiety, etc.
Many products derived from cannabis, such as oils, tinctures, edibles, and topicals, significantly boost the economy, creating a competitive climate in the cannabis industry, especially the CBD industry. So far, North America is the leader in the world’s cannabis market, as most of the big players in the industry operate in the US and Canada.
Of course, the 2018 Farm Bill made hemp legalization possible, which was particularly significant for American agriculture. Now, even with some restrictions, the US hemp industry is flourishing, allowing canna-businesses everywhere to explore this new side of the market.
What Makes the Cannabis Industry So Appealing?
Well, cannabis is an incredibly versatile crop. It allows businesses to have their fair share, and there are multiple fields of the industry you could invest in and make a profit. No matter if you are a flower grower, oil extractor, a hemp clothing brand, or a cosmetics brand that wants to make CBD creams, you will find a path toward profit. CBD statistics are particularly favorable.
Also, what many people fail to realize is that this relatively young industry needs workers who have experience in different fields. That would provide more opportunities for employment. As time goes by, it will be even more exciting to see to what extent the cannabis industry will grow.