The marijuana industry is a massive one and this substance has become very popular over the last few years. In America, a total of 18 states have legalized marijuana for recreational use and 37 states have legalized it for medical marijuana use which means that most Americans have access to marijuana. One reason why marijuana is so popular is because of the innovation in the industry and the number of products available. Brands and manufacturers like molinoglass.com aim for total customer satisfaction and create products like bongs, dabs, and vapes for every taste, so no matter what your preference is, the market surely has it. Every industry and market sees trends and this is no different in the cannabis industry. Read on to learn about a few upcoming trends in the marijuana industry.
With the continuous rise in popularity, the cannabis industry will naturally experience a surge in sales. On 14 July 2021 alone, more than $400 million worth of marijuana was sold and according to experts, that number is expected to grow by as much as $130 million. As the stigma of weed works its way out of society we will see more and more sales on the substance taking place. Scientific research on the benefits of consuming marijuana will also influence sales statistics positively. It is predicted that in the future cannabis consumption will not only be restricted to cannabis-only locations and this development will see people purchase and consume more cannabis in the future. In no time, we will see cannabis transform into an industry as massive and successful as any other major industry.
For the longest time, cannabis was only grown outdoors because that is the natural climate of the plant. Before, it was expensive to grow marijuana indoors because it requires investment in expensive LED lighting that needed to shine on the plant 24/7 as it grew and matured. Indoor marijuana plants also require a specific environment and temperature to reach their optimal level. This is why purchasing indoor buds is generally more expensive. Thanks to innovation within the cannabis industry, we now have crop steering which is revolutionizing indoor cultivation. Crop steering works to increase yields, boost terpenes and save resources and this method has become very popular amongst farmers in recent years. Basically, crop steering is a way to manage crop growth by manipulating the environment which results in the crops growing a certain way. This is the most important method of crop manipulation.
More states will legalize
It goes without question that more states will legalize marijuana in the future. Before it was stigmatized and people believed it was harmful and dangerous to be under the influence of this substance but new research has been done and continues to be done that supports the function of marijuana and actually reveals the many health benefits of the substance. Many health professionals support the use of medical marijuana to treat patients suffering from health complications and this research as well as growing public interest will see more legalization happen. In 1996. The state of California became the first to legalize marijuana for medical use followed by many other states in later years including Alaska, Arizona, and Arkansas to name a few.
Access to banking
Many people believe that legal cannabis businesses will gain access to financial services and banking. Many people in the industry have to work with large amounts of cash which is potentially dangerous and puts them in a very vulnerable position so banking is very vital in this instance and will positively impact the legal marijuana industry because investments will start to flow more, cannabis business transactions will become a lot easier and valuations might also increase. Cannabis companies could also start seeking bridge loans from banks.
The growth and development of the marijuana industry is very interesting to observe and this is one industry that has massive growth potential. Society is quickly getting rid of the negative perception and stigma attached to this substance and with everyone embracing it more and legalization supporting the growth of the industry, it is not hard to imagine these trends becoming a reality. Sales will continue to skyrocket, indoor growing will become inexpensive and widely used, more states will legalize marijuana for medical and recreational use and finally, marijuana businesses will have access to banking.