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The Development of the Marijuana Industry


Since the Middle Ages, relations between Western people and cannabis have changed several times, becoming the subject of moral speculation or touching on issues of economic gain. While the church was chasing the Europeans who used cannabis, the Spanish conquerors grew it around the globe to produce sails, ropes, clothing, and other purposes, about which the sailors, slyly smiling, kept mum. Whole cannabis fields often grew near the western port cities, as cannabis fibers are the most durable and waterproof. Of course, both the collectors, the producers, and the Mariners knew about the psychoactive properties of this plant.

The authentic history of hemp in the Americas begins with the XIV century, when the Spaniards brought the weed in Peru and Chile, although some researchers suggest that this plant was known to the indigenous people of the New World long before the invasion of Europeans.

The legal market for marijuana is on the verge of a global gold rush: in 2017, the overall assessment of the cannabis market was about $ 9.5 billion.

According to a study by ArcView Market Research and BDS Analytics, growth is expected to reach at least $ 32 billion by 2022, and to 57 billion in 2027.

Recently, the marijuana industry has been developing by leaps and bounds. And the shares of manufacturing companies are rising at a record pace. To see this, just look at the growth dynamics of the seven largest companies engaged in the production and sale of marijuana over the past year: Aphria up 251%, Canopy Growth up 241%, GW Pharmaceuticals up 34%,  Medical Marijuana up 224%, Zynerba Pharmaceuticals up 145%.

Investment firm Cowen & Co. believes that by 2026 this figure will increase to a record 50 billion (with an annual growth of at least 23%). Such rates look attractive both for business and investors. And there is every reason to believe that the marijuana industry will soon attract even more investors. JAMA Pediatrics says, two millions of middle and high grades, use marijuana in wax pens (more info here).

The main reason is the increase in public support for the legalization of marijuana. According to a CBS News survey, which was attended by more than 1,000 respondents, a record 61% of Americans support the legalization of the drug – compared with 33% opposed. At the same time, 88% of respondents noted that they support the widespread legalization of medical marijuana. The survey revealed two more curious facts. First, 53% of respondents consider alcohol more harmful than marijuana (whereas only 7% think the opposite). And secondly, the respondents ambiguously relate to the causal relationship between the use of marijuana and violent crimes. 23% believe that the drug leads to an increase in crime, while 22% believe that its use, on the contrary, reduces the number of crimes. 49% believe that there is no connection between them.

Since many adult Americans associate cannabis with addiction and immoral lifestyle, cannabis activists have decided to launch a large number of cannabis products. According to researchers at Yale University, in the United States is rapidly gaining popularity a new way of smoking marijuana. Almost 27% of schoolchildren in the process of smoking use not habitual roll-ups and glass tubes, but dab vape pen.

Outwardly, these products have nothing to do with the classic  (roll-up) but have the same narcotic influence on the body. “We want to break the stereotype that cannabis is bad,” says Bernard Duke, the founder of the cannabis cookies company. – For example, smoking hemp is wild for my grandmother. She gets angry when she sees me with a roll-up. However, she herself eats with tea a couple of cookies with cannabis seeds.”

Initially, they invented their dab pens so that people would smoke less classic tobacco and reduce their nicotine addiction. Now, this electronic device has become a revolutionary device among weed lovers. Currently, recall, smoking and storing medical marijuana is permitted in 23 states and the District of Columbia.

In other words, the inventors of alternative ways of using marijuana are planning to go the same way as pharmaceutical companies. The latter quickly competed with drug cartels, launching potent drugs for sale, which in essence are not much different from heroin or cocaine.

Today, over one hundred “start-ups” in the production of goods with marijuana can be found on Internet sites. These are chocolate, candy, patches, drops, chewing gum, tea bags, etc. Each item has a package that has nothing to do with classic marijuana. And there are a lot of new ways to consume weed – one of them is wax vaporizer.

Narcologists do not see anything good in the appearance of a variety of products with marijuana. “Many people call cannabis the engine of the economy and believe that the production of cookies and candy will breathe new life into a small business. – argues Stan McDal, a doctor at a rehab clinic in Maine. – In reality, cannabis products are the result of the population getting used to classic weed. Addicted people no longer enjoy organic medical marijuana, they want to use a concentrated drug in food, rub into the skin, smoke wax vape pen”. Advocates for the legalization of marijuana and the production of cannabis products continue to ignore all the data from researchers that marijuana is a dangerous drug. But the absence of open flame also dramatically reduces the duration of the smell in the room after cannabis use. The use of vaporizers makes cannabis use more invisible to others.

The popularity of marijuana with strong synthetic additives has grown, according to the Drug Enforcement Administration (DEA), by almost 100% over the last three years. This is evidence that Americans are accustomed to ordinary weed. Finally, it should be said that New York Governor Andrew Cuomo signed two pro-Cannabis bills. Their essence boils down to the maximum simplification of the procedure for obtaining documents for receiving marijuana for medical purposes. Members of the same party welcomed the decision of Cuomo.

About the author:

Christina Matthews, the journalist who studies the latest news in the health industry. Now she studies the effects of cannabis on health and development of the marijuana industry.

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