The cannabis industry, until now, has been subjected to constant backlash and has been misunderstood to a great extent. But with the growing knowledge about the uses and advantages of cannabis, several states that have legalized it, are expected to witness revolutionary changes in the economy in the year 2021. We shall take a glance at the upcoming trends in the cannabis industry this year:
A surge in the sale
The sale of the drug is expected to skyrocket given the fact that it has been legalized in 10 states. So 2021 comes with a great opportunity for the sellers of cannabis. Furthermore, according to the experts, the cannabis industry has the potential to grow 130 million dollars per year. This gives us an idea of the kind of impact this industry can have on the economy of these states.
Increase in the types of cannabis products
The upcoming trends in the cannabis industry will not only increase the sale of newer cannabis products but will act as a game-changer altogether. For instance, cannabis-infused beverages are likely to become popular and widely available in these states, with several popular alcohol companies making these beverages. It is also widely known that Molson Coors is considering creating a cannabis-infused beverage and Coca-Cola may create a carbonated drink containing CBD.
More states will legalize cannabis
With the legalization of cannabis in Illinois, there’s a possibility that it will be soon legalized in other states such as Connecticut, New Hampshire, New York, Minnesota, New Mexico, and Rhode Island as activists have been working on it relentlessly. As a result, public support for legalizing cannabis is at an all-time high, where around two-thirds of the country supports the movement. Further, this support is likely to increase with more people beginning to understand the uses and benefits of cannabis.
The diverse range of customers
The number of elderly people using cannabis is quite likely to increase over time as the drug is popular for its medicinal benefits. Moreover, the number of female marijuana customers is also expected to increase radically.
Given its medicinal as well as recreational benefits, the support for legalizing cannabis is increasing day by day. Further, since the cannabis industry can have a remarkable impact on the economy as well, the upcoming trends give us a glimpse of the potential this industry holds.