The year 2016 witnessed big election victories for marijuana in many states. Besides this, Colorado crossed one dollar billion mark for yearly marijuana sales. Now in this New Year 2017, a new top-level management for the cannabis industry is prepared to navigate. Hence, it’s the time to look forward and view what are the surprises in store for the marijuana industry in this year 2017. In this article, let us discuss the top five predictions for marijuana industry in 2017
Los Angeles Is Anticipated to Turn into Marijuana Capital
The Chief Executive Officer, Adam Bierman of cannabis asset company Medmen Capital trusts that Los Angeles will take away the spotlight from the Mile High city. He also said that with few estimates the Los Angeles’ medicinal marijuana market by itself is already near to one dollar billion, which easily overshadows Colorado’s complete market. The city is anticipated to pass a rule this New Year that will probably clear the path for an appropriate licensing program and will expose the recreation market.
Sports League Will Approve Marijuana
In the year 2017, Biermen trusts that the main sports league will show green light to marijuana for using cannabis for medicinal purposes. Most of the expert athletes have started using cannabis to cure head injuries and pain and are refusing prescribed opiates. Since medical marijuana became legal in twenty nine states, the players are forced to be treated and considered like the other patients.
Growth in Interest for Synthetic CBD
With the DEA and Hemp Industries Association fighting over the legitimacy of cannabis extracts like CBD or cannabinoids, there is anticipation for bigger interest in synthetic cannabinoids.
The chief executive major, Seth Yakatan of biotech firm Kalytera said that through AG sessions and DEA’s explanation that plant resulting in CBD is not lawful federally. Hence, there will be likely interest in synthetic procedures of CBD and in fact Kalytera has been testing the efficiency for few years apart from the argument over whether CBD is legal or not. Yakatan is correct that synthetic goods do not have legal restrictions compared to other products. Yet according to few patients, synthetic products are not so effective like other natural products and due to fear of legal issues there could be a demand for synthetic products.
The Development of Craft Marijuana
Vaporizer distributor, Greenlane Chief Marketing Officer Sasha Kadey said that he anticipates that as market supplies develop, there are probabilities of drop in prices, which will cause commoditization leading to ‘premiumization’. Similarly, the alcohol industry experienced while its growth with producers pursuing to distinguish with brand building, premium packaging, better known as seed to sale storytelling, and other add-on values. Other cultivators stress their organic topographies, whereas few push for celebrity authorisation. Overall, this year will be the year of craft bud.
Recycling Failures of Marijuana
Cannabis Business Association is anticipating to work with the politicians to make options for marijuana, which failed in pesticide testing. Presently, marijuana manufacturers have to abolish the crops that fail testing. CBA is occupied towards a new law to permit for these harvests to be converted into solvent-based essences, which can be considered as harmless.
Thus, these predictions signify that there’s going to be a wide acceptance of marijuana legally and we can expect lot of demand in the near future.
