Head-Spinning Facts About the Cannabis Industry

The cannabis industry is at its all-time high. With many states legalizing cannabis use (Illinois being the most recent one), the industry is simply booming at an incredibly fast pace. 

Current cannabis usage facts say that there are 24% of young adults (between the ages of 18 and 29) in the US who have admitted to using cannabis on a regular basis. Furthermore, 33 states in the US have legalized medical cannabis, with California being the one with the highest number of users. 

So, what exactly is cannabis?

First things first, cannabis usually refers to the dried leaves, flowers or stem of the plant called Cannabis sativa or indica. It contains the mind-altering chemical called THC, and the non-psychoactive CBD. These are the most renowned cannabinoids, though the other 100 or so also deserve praise. THC and CBD have a bunch of favorable health benefits that can help with certain conditions — hence the cannabis approval for medicinal use. Cannabis is successfully used for treating diabetes, epilepsy, cancer, acne, loss of appetite, opioid addiction, and lots of other conditions. For these reasons, the cannabis industry is earning billions.

Most Impressive Facts

– Based on the latest report provided by the United Nations, there are 183 million cannabis users in the world. 

– The global legal cannabis market increased by 37% in 2017. 

– The total US demand for cannabis (legal and illegal) is over $50 billion.

– Seniors are the fastest-growing group of cannabis users in the US. 

– The average price of an ounce of high-quality cannabis is $326.

– 93% of American voters agree medical cannabis should be legalized.

– No one has ever died from a cannabis overdose.

As you are able to see, the cannabis industry is one that is getting more and more attention every day. With its legalization and people finally seeing the full potential, there are only going to be more growers and dispensaries around the states. If perhaps you are willing to invest in it, you should jump on the bandwagon while there is still time!

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