More Transparency, And A Tech Makeover, Will Help To Make The Cannabis Industry Even More Successful In 2020
2020 looks to be a good year for cannabis, with plenty of states looking towards legalization. Projections regarding the sale of both medical and recreational cannabis in the US are expected to jump to $30 billion by 2023. Vangst, a cannabis industry recruitment firm, made a few predictions for 2020.
In spite of losses in 2019, the industry is looking forward to stable sales this year thanks to legalization in many states. As of now, Rep. Joe Kennedy III signed the MORE Act, after a change of mind. The upcoming elections could take this forward either way.
The cannabis industry could get a tech makeover with more cashless and online payments. Companies manufacturing cannabis products are voting for more transparency, allowing users to be involved throughout. Besides CBD, other cannabinoids gain attention as well, such as THCv, CBG, and CBN.
Cannabis connoisseurs are looking more closely at terpenes, the aromatic oils that provide the identifying smell of a strain.
Cannabis researchers and enthusiasts are now looking at to understand its experience and benefits. While it has become popularly known that cannabis has huge potential, investors are being cautious about funding CBD-based efforts. To wrap up, convenience will play a major role. With cannabis more easily available in many states, it could even be made available in more retail stores, restaurants, and lounges.
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