Why Invest in Cannabis?
“As we usher in the transformative year of 2024, the cannabis industry stands at the threshold of unprecedented growth and evolution.
In 2024, the global cannabis market is expected to experience substantial growth, fueled by emerging legal markets, innovative product offerings, and technological advancements. This growth presents opportunities and challenges, especially in navigating complex legal and regulatory landscapes.
Projected Market Growth: The U.S. cannabis market is projected to grow significantly. Retail cannabis sales could reach $53.5 billion by 2027, with adult-use sales growing more rapidly. States like New York are working on finalizing details to launch approved programs, contributing to this growth.
The trend toward personalized cannabis products is expected to gain traction as consumers become more educated and discerning. Cannabis companies will likely continue tailoring their products to meet a wide range of individual needs and preferences. However, pre-rolls are projected to continue to be a top product sale item in 2024. As people progress in their exploration and knowledge of cannabis, we believe they will gravitate towards craft cannabis products, and artisanal flower, despite the enduring demand for “low-cost and convenient options.” (Parnell, CPA, 2024)
"With these negative forces at play, it is understandable that many potential cannabis investors are currently sitting on the sidelines. But with crisis comes opportunity. Investors considering current market conditions and potential for blue sky ahead should see that this could be the ideal time to put their capital to work in the cannabis industry."
Forbes 2023
How would the cannabis industry handle a possible recession?
"Though not recession-proof, cannabis is certainly a desirable product and the industry, to date, has proved fairly resilient.
Cannabis is also a young business, and even if the economy, in general, takes a dip, weed is just starting to test the waters in many U.S. states. This means there is potential for growth in the industry, even if the country, as a whole, witness a shrinking economy for a period of time."
Tom Gaffey • The Fresh Toast
Cannabis is a Resilient Industry
"Despite Covid and its economic impact, 2020 was a break out year for cannabis. Legal sales across the U.S.—14 states allow adult use, 36 allow for medical sales—hit a record of $17.5 billion, a 46% increase from 2019, according to a new report."
Forbes 2021
Reduced Opioid Prescriptions
"States that implemented adult-use (i.e., recreational use) marijuana laws, saw a 6.38% reduction in opiate prescribing"
Harvard Health Publishing
Taking a Longer-term Outlook on the Cannabis Industry
"There are lots of reasons to be optimistic about where the industry is eventually headed. Of course, it would be foolish to predict exactly when these changes will occur since many of them are reliant on legislative or regulatory changes that are outside the industry’s control. But the overall trendline of cannabis policy reform is clearly in the industry’s favor."
Kris Krane, Forbes 2023
