You must have witnessed a remarkable momentum in the cannabis industry in recent years, especially in California. However, the United States cannabis market saw some rough months as major companies were impacted negatively by the regulatory variables. This also put a pause on the growth initiatives, Hence, many are asking for more clarity in regulations with some flexibility to help them grow their business.
Cannabis is still getting more popularized in the states. And the biggest reason for this is the benefits it offers. With a medical marijuana card in California, a person can buy medical cannabis for his health condition. Medical cannabis has become an alternative to many pharmaceutical medicines, as it does not have harmful side effects. So, the year 2020 is likely to bring some important changes and trends to the cannabis market.
The industry is set to grow with more products in the market. Customers are likely to get more educated about these products and cannabis in general. 2020 will also be an important year for cannabis businesses. So, here are the top 5 trends related to the cannabis market that you should look out for in 2020.
1. The Legalization Movement Becoming More Powerful
In 2019, recreational cannabis got legalized in Illinois too. Many states have legalized the use of cannabis in the past few years. And the activists are trying their best to get cannabis legalized in as many states as possible. There are some chances that some states including New Jersey, New Mexico, Rhode Island, New York, New Hampshire, Connecticut, and Minnesota may legalize cannabis soon in 2020. In Vermont, it is legal to possess and cultivate cannabis at home, and soon recreational dispensaries may also become legal there.
Currently, cannabis legalization is getting a lot of support from the people. Almost two-thirds of the U.S. population is supporting federal legalization. This figure is set to rise with time as more people become aware of the benefits of cannabis.
There are a few states that are about to decriminalize cannabis or legalize medical cannabis. This can be a step forward towards full legalization.
2. You Will See More Kinds of Cannabis Products on The Market
This is making me so excited! You may get to use some new cannabis products in 2020. And not only that, but it’s also very much possible that breeders will create some new strains. If you like cannabis-infused beverages, here is something nice for you; the availability of these beverages can increase. Cannabis-infused beverages are slowly becoming popular. Some of these beverages will likely be produced by manufacturers that are in the alcohol industry.
While we are talking about cannabis-infused beverages, we can’t leave the edibles behind. Edibles need no introduction, they are like those high-school kids that everyone knows about. You may soon see some more varieties of edibles on the market. But, no matter how many products we get, the cannabis flower is going to stay on the top.
3. People Will Learn More About The Cannabis Compounds
How many cannabis compounds are you familiar with? THC and CBD, right? While these two compounds are the most commonly talked about and are the major reason for the effects of cannabis; these are not the only compounds that can benefit you. The plant has many other cannabinoids compounds like CBG, CBC, CBN, and THCV. These compounds can also offer some benefits. Not to mention, terpenes, that can impact the psychoactive effects of various strains significantly.
Cannabis users are becoming more familiar with the effects and benefits terpenes have. All these things may influence the breeders to produce strains that tend to have a high content of specific terpenes and other beneficial cannabinoids (other than CBD and THC).
4. Cannabis Sales Will Increase
Cannabis is completely legal in 10 states now, this means there will be more sales than before. According to experts, the cannabis industry can grow up to 130 million dollars per year in the coming years. This is not going to in 2020, but this surely shows the rapid growth of the industry
5. More Studies on The Uses of Medical Cannabis
Researchers recently discovered that some compounds in cannabis may possess anti-cancer properties. So, it is very likely that more studies will be done to learn more about this. Scientists may also try to synthesize new compounds based on these natural cannabinoid compounds to fight cancer. And chances are that these synthetic compounds will have a much stronger anti-cancer effect.
Studies have also found that CBD has antibiotic effects, and may also be able to treat infections that are antibiotic-resistant. This can lead to the production of topical CBD creams that will have antibiotic properties.
With all these things happening in the cannabis industry, many cannabis stocks will likely become an excellent investment target. Furthermore, as scientists are becoming more aware of the benefits of medical cannabis, doctors will also recommend this treatment to their patients more often. So, brace yourself to witness some of the best cannabis market trends in 2020.