The Farm Bill and changes the most populated countries with regards to the cannabis plant will fuel expansion.
Changes that will fuel the industry include adult-use in California as well as Canada. It is anticipated that full federal legalization and continue to expect a nationwide resolution between the states-federal laws to be completed by 2021.
As this date approaches, there is the beginning of a legitimate pathway for banking and tax resolutions.
Businesses that execute their business plan better will see a big lift in 2019. Consumer spending is expected to jump 40% in 2019.
According to Forbes, More than 30% of all cannabis sales in California in 2018 were vapes. We should expect other states to follow California’s lead with surging vape sales in 2019. Low-dose products, designed to attract new consumers to the cannabis space, will start to make a showing this year. That includes ready-to-consume edibles, beverages, and vapes. Distillate oils, which are virtually odorless and tasteless, offer versatility and potency. Look for them to contribute to an explosion of new cannabis-infused products. At the same time, we’ll see flower sales start to decline as a percentage of total sales, as vapes and infused products eat away at the category. The beverage category will also make a lot of noise in 2019. It’s going to be a hot topic and will get some additional traction. However, despite the hype, it probably won’t get a lot of actual market share until 2020 or 2021. It will take time to fine-tune beverages, but they are expected to be a $600 million business by 2022. (Source: Forbes, January 2, 2019)