The Future of the Marijuana Industry

Weed Delivery Malibu — Cannabis is the most widely farmed, traded, and used illicit substance in the world, and as the movement for its legalization in the United States and around the world gains momentum, investors, manufacturers, and academics are becoming increasingly interested in the sector. According to New Frontier Data, the legal marijuana industry in the United States was estimated to be worth $13.6 billion in 2019, with 340,000 jobs dedicated to the handling of plants. This is despite the fact that federal law classifies marijuana as a Schedule I drug, which makes the plant illegal.

There are currently 35 states plus the District of Columbia that have decriminalized the use of marijuana for medical purposes. As of April 2021, 16 of these jurisdictions will also decriminalize the use of marijuana for recreational purposes by adults. As more people in the United States come around to the concept that marijuana use should be decriminalized, it is possible that this number may continue to grow.

Alterations in Attitudes Toward Marijuana
Do you remember the movie “Reefer Madness,” which was released in the 1930s and aimed at educating parents and their children about the dangers of marijuana use? The movie was first created with the intention of enlightening viewers, but it has since evolved into a cult classic and an example of satire.

People’s sentiments about marijuana in general are shifting in the same way that people’s attitudes toward the movie have shifted. This is especially true when we gain more knowledge about the substance and the apparent benefits that come with employing it for therapeutic reasons. It was once designated a controlled substance, but now it is considered a controlled drug under the rules set forth by the federal government. However, the negative connotations are being dispelled at a dizzying rate, and it would appear that marijuana is on its path to becoming more acceptable in society.

According to the findings of a survey conducted by Pew Research, 67 percent of American adults think that marijuana usage should be made legal. This is five times higher than what it was in 1969, which was only 12 percent, and it has increased by a factor of two since the year 2000. According to a study conducted by New York University, the percentage of adults aged 50 to 64 who report using marijuana has increased seven times during the same period to nearly reach 3 percent, while the percentage of adults 65 and older who report using marijuana has increased by a factor of two during the same period. According to projections made by Cowen analyst Vivien Azer, the legal cannabis market in the United States will bring in revenue of $85 billion by the year 2030.

Experts are currently speculating about the future of the marijuana industry in light of the virtually likely boom in the availability of marijuana goods. Will major firms eventually come to control it and flood the market with products that are both inexpensive and generic? According to Ryan Stoa, a professor of law at Concordia University and the author of Craft Weed: Family Farming and the Future of the Marijuana Industry, this will be challenging due to the wide diversity of strains that are now accessible. He made this statement to The Verge. Another point that he brought up was the interest that the consumer base has in artisanal products that are either locally manufactured or locally produced.

According to what he said, “on the regulator size, states have a role to play.” “You can already see governments like California imposing a limitation or limit on the scale of marijuana farms. In essence, these states are saying that if they are going to legalize the sector, they want to ensure that the advantages are distributed to the greatest number of people feasible. There are a number of states that are able to imitate that approach.”

The sector is also being influenced by technological advancements. The cannabis delivery service Eaze has reportedly been valued at $300 million after raising $37 million in funding. It just just announced that it will be developing a platform that will allow CBD goods to be shipped to 41 states. Service for the supply of marijuana and cannabis on demand In 2018, Dutchie was successful in raising $3 million from a number of venture capital firms, including those belonging to artist Snoop Dogg and basketball player Kevin Durant, amongst others. Get in touch with Local Weed Delivery USA today to stay updated on the latest news and research about medicinal marijuana.

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