You've probably heard by now that marijuana offers investors an incredible long-tail growth opportunity. Having already more than tripled worldwide sales in the past four years to nearly $11 billion, lofty projections call for weed sales to head considerably higher in the years that lie ahead. Plus, with the black market being as large as it is, there's clearly demand waiting to be tapped by legal channels.
Because cannabis legalization is currently a patchwork of state-level regulatory regimes, every state’s cannabis market is unique. No one set of rules applies everywhere, and, in states with both medical and adult-use markets, the regulations are often different for each type of sale.
This situation can make life complicated for medical cannabis dispensaries looking to shift to adult-use shops. While adult-use opens access to an exponentially larger customer base, that opportunity comes with new laws, systems, compliance requirements, and other variables.
Lawmakers are scrambling to keep pace with the ever-changing landscape of the cannabis and hemp industries here in Florida. As proponents of legalization lay the groundwork for a 2020 vote on adult use — more commonly known as recreational marijuana — officials are still trying to get a hold on the cannabis and hemp industries.
New cannabis technologies have the potential to transform the industry as advanced cultivation techniques and testing practices improve.
New cannabis technologies, including quality control and contamination testing along with other health and safety practices, are key to building and maintaining consumer trust in the legal cannabis industry.
Mexico has delayed marijuana legalization. The Supreme Court’s deadline for legalization was October 23. On October 18, the Senate committee unveiled the final bill, which was then being reviewed. However, the process will take a little longer because Mexico missed the deadline. Let’s see what happened.
One reason diversity has been so difficult to achieve is that most industries are established. The workers with the most experience began their careers when companies rarely discussed diversity, much less invested in it.
In July 2016, the Colombian government enacted Law 1787, which regulates the use of medicinal cannabis and its trade in the country. With this decision and a series of subsequent resolutions, Colombia joined the more than a dozen countries that have put into practice different types of regulation to explore the advantages of this plant as an alternative pharmaceutical.
Cannabis is likely to be one of the fastest growing industries over the next five to 10 years. The State of the Legal Cannabis Markets report from Arcview Market Research and BDS Analytics suggests it's an industry that could see worldwide sales nearly quadruple from $10.9 billion to $40.6 billion between 2018 and 2024. Meanwhile, investment bank Stifel has a pie-in-the-sky global annual sales target of $200 billion in place in a decade.
Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries, Hon. Floyd Green, says the growing global market for cannabis provides the opportunity for Jamaica to become a first-choice destination for travellers who want to use medical cannabis.
Mr. Green, who was speaking at the official opening of Apollon Formularies Limited in Westmoreland on October 25, said “the fact that Jamaica is already a world-renowned hospitality and tourism destination is a guaranteed formula for a successful cannabis industry”.
The Cannabis World Congress & Business Expo wrapped up on Saturday, October 26th. Held at the Haynes Convention Center in Boston, Mass., this show is focused on business-to-business within the legalized cannabis industry and is one of three CWCBE Shows held each year.
