Since the legalization of cannabis in 2018, the cannabis business has gone a long way. What was once a despised sector has now blossomed into a vibrant legal market that is constantly expanding and gaining new clients. In a short period of time, it rose to become one of the most successful niches even during the epidemic, when most businesses battled (and still to struggle) to stay afloat.
Not everyone, on the other hand, is delighted with the industry’s continued growth. Despite the fact that cannabis has been legalized on a federal level in the United States, numerous individual states continue to strictly control it or only allow specific cannabinoids such as CBD. As a result, should we expect stronger regulations in the future, or should we expect the cannabis market to continue to grow? Let’s have a look and see.
Legal Cannabis Users
The number of legal cannabis users in the United States has increased tremendously in recent years and is expected to continue to climb. When it comes to the top cannabis dispensary, United Strains of America, they report increasing numbers of devoted customers as more folks of all ages become aware of the potential benefits that particular cannabinoids may provide.
While cannabis usage has generally been linked with adolescents and young adults, the demographics of cannabis users are rapidly shifting. Legal marijuana is no longer reserved for a small group of people, but is available to anyone who might benefit from its potential therapeutic properties. A total of 40.3 million cannabis users were expected to be in the United States in 2019. By 2025, it is predicted to have increased to 46.6 million people.
Delta 9 THC
Only a few short years ago, cannabis was only known for one specific cannabinoid Delta-9-THC and was only utilized for that purpose. The fact remains that Delta-9 is still classified as a Schedule I substance and is therefore prohibited on a federal level.
However, it is the other cannabinoids, terpenes, and flavonoids found in the plant that make it so enticing to today’s consumers. These compounds are responsible for cannabis’s most potent qualities, and they are what make the plant so desirable to today’s consumers. Handling is one of the most important reasons why people use cannabis nowadays, and it includes the following:
- Pain that lasts a long time;
Spasticity associated with multiple sclerosis
Because of cannabis’s neuroprotective, anxiolytic, analgesic, anti-inflammatory, and other therapeutic characteristics, it is becoming increasingly clear that marijuana can be used to treat a wide range of physical and mental problems, including chronic pain and anxiety.
Availability Of Cannabis
Given the increasing popularity of legal marijuana, it shouldn’t come as a surprise that consumers may now choose from a wide variety of distinct products. Cannabis is available in a variety of forms and sizes today, with the most commonly purchased products including:
Candy, gummies, chocolate bars, and other edibles enriched with cannabinoids such as CBD are becoming increasingly popular.
The use of e-liquids laced with cannabinoids in the vaping industry
Joints that have been pre-rolled:
Cannabis flower that has been dried and is suitable for smoking;
Under the tongue, a food-grade oil infused with cannabis concentrates is administered.
Use moisturizing creams and lotions.
Externally applied cannabis-infused topical therapies are available on the market.
The majority of these products fall into one of three categories: isolates, broad-spectrum products, and full-spectrum products, respectively. Isolates are concentrated concentrations of a single, pure cannabinoid, such as CBD.
Broad-spectrum products contain all of the cannabinoids, terpenes, and flavonoids found in marijuana, with the exception of Delta-9-THC. Full-spectrum products comprise all cannabinoids, terpenes, and flavonoids, with less than 0.3 percent of Delta-9 found in full-spectrum formulations.
Despite the fact that THC is banned on a federal level, cannabis businesses and users have discovered a loophole that allows them to Buy Cannabis Seeds to continue the benefits from the euphoric effects of cannabis.
While the authorities rigorously monitor the THC content of all lawfully cultivated hemp, they primarily pay attention to the notorious Delta-9-THC. It’s a highly potent psychoactive cannabinoid that’s classified as a Schedule I substance, and any cannabis plant that contains more than 0.3 percent Delta-9-THC is considered illegal.
Delta-9-THC, on the other hand, is a less well-known relative of Delta-9 that is currently considered lawful on a federal level in the United States. Even though it is comparable to Delta-9 in terms of effects, Delta-8 is significantly milder, giving users with a more focused high.
Extraction Of Delta 8
As long as the Delta-8 is extracted from hemp with less than 0.3 percent Delta-9-THC, it is technically lawful and becoming increasingly sought after by consumers and businesses. Despite this, many states have begun to prohibit Delta-8 as well. The cannabinoid is now illegal in 16 states, which means its future is up in the air.
Legalizing marijuana was a revolutionary step, but it has caused much misunderstanding in recent years. It’s lawful on the federal level, but states can regulate it however they want. Because each state handles cannabis legalization differently, consumers and businesses cannot freely move between states.
That’s perhaps why Vice President Kamala Harris joined the Marijuana Justice Act’s senate sponsors. The act seeks to decriminalize marijuana on a federal level. The FDA recently approved the first cannabis medication Epidiolex which is a sure sign that the cannabis sector is on the rise.
The drug’s approval has opened floodgates for the cannabis sector and demonstrated that cannabinoids have significant medical potential, potentially improving the lives of thousands of patients worldwide. Although Epidiolex is the only FDA-approved cannabis drug, it is a positive milestone for the marijuana sector.
The cannabis industry is growing, and it is anticipated to continue to do so in the foreseeable future. The market was worth $20.5 billion in 2020, and it is expected to grow to $90.4 billion by 2026, according to predictions. As the cannabis sector matures and policy reforms are implemented, the cannabis market is predicted to become one of the most profitable in the United States.