The Future of the Cannabis Industry
Gone are the days when marijuana is relegated to the lazy stoner stereotype so long perpetuated by society and culture. Cannabis has become a massive multi-billion industry that has evolved from its grassroots era into a sophisticated market that serves millions of people from all walks of life.
By 2030, the entire cannabis industry is projected to be valued at $57 billion, potentiated by the fact that legalization is continuing its spread throughout the country. The future of the cannabis industry is an exciting topic of interest, as it is in such stages of infancy that there is plenty of room for major innovation. Let’s explore the possibilities of the future of the cannabis industry, and what we can expect.
Consumers will replace alcohol with marijuana
It has long been said that cannabis is often used as a substitute for alcohol, and this claim could have more truth behind it than we know. In states where marijuana has been legalized, there has been an average of 13 percent less binge drinking overall, along with fewer alcohol-related deaths.
Uber for marijuana
Cannabis delivery services are already a popular method used by dispensaries to move their product to customers. However, marijuana delivery will become a much more efficient and convenient method used by consumers. Companies like Eaze and GreenRush are already implementing efficient networks for marijuana delivery services, making it easier than ever to get your hands on marijuana.
Science meets marijuana
Jake Browne, Cannabis Critic for The Denver Post, says that by the year 2030, smokable marijuana will be considered low-tech compared to the advances we will have made by then. We will have perfected our methods or being able to blend THC and CBD, allowing for specialized strains that will be able to perfectly mimic the effects of marijuana flower. He says “Instead of a glass of wine after work, someone might take a couple puffs of Relax before making dinner. This will increase the social aspect of marijuana, making it a normal social experience.
The traditional industry will enter the cannabis foray
Companies belonging to the food, beverage, pharmaceutical and more will become involved with the cannabis market. Brewers like Blue Moon and Constellation Brands are exploring cannabis-infused brews, while vegetable growers are exploring new and innovative ways to grow marijuana. There are endless applications for companies to expand into the cannabis industry, and it will be exciting to be able to the innovations that will inevitably come along with such a strong entrance.
Marijuana prohibition will end at the federal level
As legalization spreads across the country at the state level, Congress will eventually be faced with the move to legalize marijuana at the federal level. By 2030, it is entirely possible we will live in a country where marijuana is no longer a Schedule I drug. In states where legalization has taken place, there has been a strong increase in tax revenue on cannabis sales, and if legalized at the federal level, it could provide a massive influx of tax dollars.