![]() states and also international markets, more companies are venturing into cannabis, its research and development, testing, and manufacturing.Ĭannabis is a herbaceous plant, and also an umbrella term meant to refer to either marijuana and/or hemp. As cannabis has steadily achieved legalized status in several U.S. Investors have increasingly shown interest and demonstrated participation in several aspects of the cannabis industry, with a key factor fueling the industry growth being the expanding demand for legal cannabis. In the last two decades, the cannabis industry has grown significantly. ![]() This information is available as a downloadable eBook > As a psychoactive drug, cannabis continues to find extensive favor among both recreational and medicinal users. The cannabis industry has grown and matured over the years as it continues to be advocated for its medicinal benefits. Companies in the cannabis industry are driving research, innovation, technology, and product development, to explore ways to increase their expertise in the application of cannabis, new forms of delivery, and expanding product range. Regulations governing cannabis use, change in market perception, growth in the cannabis user base, usage frequency, medical advancements, and the development of new ways to consume cannabis are all major drivers that will determine the future of this industry. As the regulatory environment has evolved and continues to evolve, governments in many countries have now started to legalize cannabis for medical and adult use, prompting entrepreneurs and multinational companies to tap into this growing opportunity. The cannabis industry is a niche industry, which gained prominence around the late 1990s, but the industry growth was hindered by regulatory roadblocks in many countries. The major stakeholders in the cannabis industry are cultivators, processors, medical and legal professionals, regulators, dispensaries, law enforcement, multinationals, and end-consumers. The primary activities of companies in the cannabis industry include the legal production, transportation, sale, and consumption or use of medical marijuana, recreational or adult-use marijuana, and hemp, as well as all products derived from them. The cannabis industry encompasses all activities that are directly or indirectly involved in the production and sale of cannabis and its derived products.
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