Currently, only 30 states have legalized the use of marijuana for medicinal purposes. But there are several more states considering the legalization of marijuana products. Also, of the 30 states that legalized the use of medicinal marijuana, seven of them also legalized marijuana for recreational purposes. Economic forecasts maintain that by the year 2022, sales of marijuana products will reach more than $22 billion. And that number doesn’t even take into account the potential of legalization nationwide. Cannabis tech companies are only one sector to invest in!
It Isn’t Just Medical Marijuana
Although medicinal marijuana sales are skyrocketing, there are other sectors within the cannabis industry that are also realizing an amazing surge. Products like marijuana-derived CBD oil are exploding as an alternative to many other pharmaceutical agents. So are CBD oils that are derived from hemp. Both of those products will help to increase the overall sales of cannabis and cannabis-derived products to explosive levels.
Where Are The Best Places To Invest In The Cannabis Industry?
From growers to distributors and cannabis tech companies, there are a vast number of companies and products that you can consider for investment. The key to investing in cannabis is to diversify. If you diversify by investing in more than one sector, you will ensure that your investments will be solid. Make sure to check out the many ways to invest in the cannabis industry before throwing all your investment into just one sector.
Recreational Pot Sales Are Forecasted To Double Medical Ones By 2022
Although only seven states currently allow legal use of marijuana for recreation, those states are witnessing exponential growth. Recreational weed is forecasted to rise between $12 and $14 billion by the year 2022. The sale of recreational marijuana has currently quadrupled since legalization. If more states find cause to legalize it, then economic indicators believe that the sale of marijuana could outrank cigarette sales nationally.
Why Now Is The Time To Invest In Cannabis
The key to realizing the greatest investment growth is getting in when the market is on the rise, not after the pinnacle has been reached. There is no reason to believe that marijuana sales are anywhere near the top. In fact, all signs point to the realization that they are just beginning. If you want to secure your financial future, investing in cannabis is a high-reward proposition, without the high risk involved in other ventures.
Marijuana might still be a controversial issue in political circles, but in medical ones, the tide is beginning to turn. If things remain the way that they are, marijuana sales will continue to rise exponentially. If more states legalize the use of marijuana either for medicinal or recreational use, that number will only explode, which is why you should call Maricap Financial today to discuss the best ways to invest in cannabis. From cannabis tech companies to growers there are a vast number of places to invest.