5 Predictions for the Cannabis Industry in 2019

5 Predictions for the Cannabis Industry in 2019

The growth of the cannabis industry showed no sign of slowing down in 2018, and that growth can be expected to continue in 2019.

Anything is possible for the legal weed industry this year — new ideas, new products, new companies, and, of course, new legislation.

Here are a few of our pot industry predictions for 2019:

The CBD Market Will Only Keep Growing

We recently discussed the rapid expansion of the CBD market. This year, we are likely to see even more products infused with the cannabinoid, allowing it to reach an even larger population.

Cannabis Growers in Canada

While Canada legalized cannabis in 2018, a supply shortage quickly forced some shops to temporarily close. It took a long time for growers to get their licences approved — and while some intermittent shortages are still to be expected — many growers will finally be able to planting their crops this year.

Illinois Could Be the Next State to Legalize Recreational Weed

Nothing is final just yet, but Illinois could might be legalizing the recreational use of cannabis in 2019. According to a report from the Illinois Economic Policy Institute, legalization would create more than 23,600 new jobs and $525 million in tax revenue.

Legal Cannabis in Spain

Spain could very well become the next country to fully legalize the possession and consumption of marijuana. For now, possession on the streets is illegal, but you are allowed to consume cannabis in private clubs, thanks to strict private property laws. According to MJfreeway.com, 2019 might be the year in which cannabis will be legalized “in a licensed, regulated, compliant and taxable model.” This would also have a positive influence on the country’s tourism industry, by attracting people who now visit Amsterdam to ‘legally’ consume cannabis.

The Big Boys Will Take a Bigger Seat at the Table

Spurred by the need to keep customers who might prefer cannabis to their products, major alcohol, tobacco, and beverage companies are expected to launch a significant number of CBD- and THC-infused products in 2019. And when they do, they will likely become some of the biggest players in the industry.