The legal cannabis sector has set itself up to see epic growth in 2019. 2018 was an exciting year for the movement and industry. The nation of Canada legalized adult use recreational cannabis for the entire country on October 17th of 2018. The United States currently has 33 states with legal medical access and 10 states that have adopted adult use recreational cannabis laws.
These numbers are only going to grow in 2019. Countries around the world are starting to realize that this plant isn’t going away. Likewise, they are wanting to be part of the multibillion-dollar global trade that it’s creating. Trends with consumers have shifted towards healthier options. For example, in the past smoking, a joint, bowl, bong or blunt was one of the most popular ways of consuming this amazing plant.
The Canna Shift and Canopy Growth
Today those trends have shifted towards vaping cannabis oil, consuming cannabis concentrates, and cannabis-infused edibles. From beverages to foods cannabis is showing up in virtually everything we eat and drink. Thc-infused soda and coffee along with CBD infused coffee, water and every snack food imaginable have become the in trend. To give you an idea on the scope of certain businesses and how they operate in the Cannabis sector let’s take a look at Canopy Growth Corporation. In addition, in 2018 Canopy Growth Corporation sold an estimated 2,197 kg of cannabis.
Big Time Players Getting the Green Light and Others Being Buried in Denials
The company has a market capitalization of an estimated 14 billion dollars. Bruce Linton warned smaller competition that they will be facing increasingly long odds come 2019. This shows you that large mega-corporations are getting the lockdown on an industry thanks to the size of their wallet. Small mom-and-pop craft cannabis producers barely have a chance in an industry that is being taken over by corporations and celebrities.
While the legal market will see more success in 2019, the heart of the culture seems to be being smashed apart. There’s more to this plant than just medicating or getting high, there are a community and a lifestyle that revolve around it. These fabrics are in danger of being destroyed by those who have opposed them for decades. Now that they see the green, big-time players are jumping in with both feet.