The cannabis or the marijuana industry has been recently seeing a lot of growth as a result of many countries legalizing this particular drug. In fact, Uruguay became the first country in South America that made it legal to use marijuana recreationally. Jeff Lenney has more info on how to reap profits from this recent shift in the attitude towards the cannabis industry. According to this post, many people have already started taking advantage of the society’s acceptance of this recreational drug which is also used for medicinal purposes.
Interestingly, there is an industrial variation of cannabis available in the market known as Hemp. In fact, the credit for the decline of the stigma associated with cannabis marijuana goes to this particular product. In 2016, the Japanese First Lady voiced her support for Hemp to be used for medical purposes. She also went on to incorporate hemp within the Japanese cultural because of the many medical benefits it offered the users. This led to an increase in demand for hemp which also accelerated the demand for cannabis or marijuana.
According to recent reports, the global cannabis business will show a projected growth of up to 32 billion dollars by the year 2021. In the present day, the business is valued at around 8 billion dollars and is believed to continue growing at an accelerated growth rate of 60 percent. In fact, hemp is also believed to have a lot of financial potential in the long run. It is a flexible substance that can be used on creating many different products like clothing, food, jewelry and so on. Hemp twine is considered to be durable and strong, making it an excellent choice for creating jewelry or clothes that will last for a long time.
The entire hemp plant is deemed to be useful, similar to the banana plant. The medical use of hemp has already caused the demands to go sky high at the moment. Interestingly, hemp seeds are used for cooking purposes by adding them to recipes like salads, pesto and so on. Hemp seeds are an excellent source of zinc and phosphorus. It also has anti-aging antioxidants along with amino acids, making it an excellent choice for people who suffer from indigestion regularly. Given the fact that the hemp plant can be used in a variety of different ways, it is understandable that revenue can cross billions of dollars in the near future.
If you are interested in getting more involved with the hemp or cannabis market, it would be a good idea to look into exchange traded funds that are dedicated to marijuana stocks alone. In fact, Canada was the first country to establish the first ETF or Exchange Traded Funds called Horizons Medical Marijuana Life Sciences ETF. The United States of America also launched its own ETF in 2017. The experts predict more countries to follow suit in the near future. After all, with the current rate that the cannabis or marijuana industry is growing, it won’t be too long before it conquers the entire market.