The marijuana industry has undergone a rapid transformation in a relatively short amount of time. Heading into 2018, this was an industry that, while gaining momentum, was still largely considered taboo. But with the legalization of recreational pot in Canada and the passage of the Farm Bill in the U.S., legalizing hemp and hemp-based cannabidiol, that’s no longer the case.
Now that it’s viewed as a legitimate business model that’s showing the early signs of maturation, investors can expect rapid sales growth and, hopefully, profitability in due time. After all, with Arcview Market Research and BDS Analytics calling for $31.3 billion in global sales by 2022 in a recently released report, these dollars have to go somewhere.