Health

/

ArcaMax

The Biggest Challenges The Cannabis Industry Will Face In 2021 And Beyond

By Benzinga Staff Writer, The Fresh Toast on

Published in Cannabis Daily

However, before we see the markets stabilize, we should still expect to see a lot of volatility in industry-level laws and regulations, especially within jurisdictions such as the U.S., where different states have different rules regarding cannabis. Yet, it is still considered illegal at the federal level.

With this paradox, cannabis companies should expect a lot of change in the coming years regarding regulations.

Startup funding, cannabis finance, and banking will continue to be ongoing concerns for countless smaller businesses in the industry, especially as cannabis awareness continues to rise and the industry establishes itself as an “addictions” industry, right along with the tobacco and alcohol industries.

But even with these challenges ahead, experts believe the overall outlook of the cannabis industry remains sound and that investors, businesses, and consumers alike should only expect to see more signs of strength in the future. The Importance Of Controlling The Cannabis Industry Many pot advocates would have you believe that the government should not be involved in their or anyone else’s marijuana use. They might even have you believe that the government is only legalizing it because it wants a cut of the market.

However, the truth is that regulations are crucial to keeping both consumers and cannabis companies safe.

And today, there are just as many pot advocates that believe that enacting better laws and regulations is the only way to make the industry a safe place for both consumers and cannabis companies to coexist peacefully.

 

In the US, before cannabis being decriminalized in states such as Washington and Colorado, there were very few, if any, laws regarding the production, processing, or sale of cannabis and cannabis products.

Today, on the other hand, there are many laws and regulations in place to oversee the sale of cannabis in legalized jurisdictions. And with this, consumers are getting the benefits of access to better, higher-quality cannabis products than ever before and more variety in terms of the cannabis products that are readily available from brands and dispensaries.

Along with this, we also expect that consumers will develop an increased awareness surrounding marijuana and cannabis-related products.

This increased awareness will eventually lead to pot brands and companies being required to adapt to changing consumer behaviours, resulting in economic boosts to other sub-industries, such as manufacturing, distribution, marketing and advertising, eCommerce, and many more that will rush in to cash in on mergers with the booming cannabis industry. Boosting The Economy With Pot There’s also much good to be said about regulating the industry when you consider that tax profits and proceeds for cannabis sales are single-handedly helping boost local, national, and global economies.

...continued

swipe to next page