With the legalization of marijuana and the growth of the industry, the investment potential that lies in this particular commodity is considerable. Marijuana stocks have experienced an exponential increase over the past few months, and are set to increase on a steady basis in the coming months.
According to data from various sources, the legal marijuana industry in the United States grew by an incredible 33% within the span of twelve months. The sales amount that was generated during this time was also considered in light of this growth. The legal marijuana industry brought in an estimate of $9.7billion from sales alone. There is no doubt that changing policies and mindsets have played a big role in the developments that are being witnessed in this sector. When taking into consideration the growth that is being experienced here, it is safe to say that this is one industry that is going to be seeing a steady rise in the coming months, especially with more companies deciding to venture out into this sector. Analysts believe that the legal marijuana industry is set to increase by around 28% in 2019 and continue at that pace right up until 2021.
There is no doubt that the changes in the way people think and their views on cannabis have shaped the industry as a whole. With weed legalization being taken on across the world, people are now turning to this as a form of consumption that can help them in different aspects of their lives. A number of polls in the United States attested to this fact, showcasing an incredible majority in marijuana supporters who believed that legalization in this regard is beneficial for them as well as the economy.
The support for medical cannabis has been even higher, especially considering the numerous benefits that are now coming to light. People are turning to this as a better remedy over the systematic forms of medications that are being produced by big companies across the country. Being a natural alternative over synthetic substances is also something that has incredibly benefitted the industry, and has contributed to the growing demand for legal marijuana across the United States and Canada.
Even though the United States was traditionally thought to be the place where industries are born, and dreams come true, Canada is the country that is currently leading the charge in terms of cannabis development and market value. Because of the prevalence of strict laws that regulate the sale and storage of marijuana, businesses that want to start out within this sector have to go through a number of formalities and hurdles just to be able to run their businesses as they would with any other kind of store. However, in Canada, the laws are more relaxed in this regard, making it better for those who want to invest and start-up businesses that sell legal marijuana.
Because of the ease of setting up businesses within Canada, the estimated amount that will be seen is roughly five billion in sales, which is a considerable amount for an industry that has just started to develop.
With the growth of new industries, there is no doubt that the legal marijuana market is going to see an incredible amount of growth. Investing in this sector early is being seen as a smart move considering the pace at which it is currently moving. With a growing number that is moving into the billions range, and with the growing interest in medical marijuana, it is safe to say that this is one industry that is surely going to see an incredible amount of benefit in the coming year.
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