Opportunities for growth in the evolving Cannabis Industry

Despite the challenges facing the industry, cannabis remains a growth sector with each new market it enters. This “evergreen” factor allows the industry to grow and innovate, even as some markets struggle. Overall, cannabis continues to attract growing adoption and sales. New states are coming onboard with increasing frequency and overall sales figures are increasing. The cannabis industry added more than $100 billion to the U.S economy in 2022 and more than 400,000 people are now employed by the industry, according to Flowhub. In addition, the industry is now attracting top talent from “traditional” CPG industries.

With this influx of new talent, freshly legalized markets and the eventuality of federal reform, cannabis remains a unique and attractive investment option. With 28 more states left to open recreational markets and a broadening product selection, the addressable audience is only growing. In fact, infamous cannabis skeptic Dr. Sanjay Gupta once dismissed cannabis as medicine but now recognizes it has a credible role to play for many patients. The physician and CNN contributor’s latest documentary reports that seniors (those over the age of 65) are now the fastest-growing segment of cannabis consumers in the United States, calling this a “senior moment” for cannabis. This makes cannabis a growth industry across multiple generations.??

Although the industry’s growing pains have yet to subside, there is growing acknowledgement that the cannabis sector continues to be poised for growth.

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