2019 Cannabis Forecast from Industry Leaders
These industry leaders have some interesting insight for the climate of cannabis as we roll into 2019. It looks like this year will be one of the best yet!
"Cannabis is the future and the future is now. Joint ventures and leading investments by Fortune 500 corporations are aggressive. Venture capital is pouring investment into building mass-market businesses centered on cannabis cultivation, devices and dispensaries. Large CPG companies have to acquire or step aside and give up shelf space, as legalization has created an infused goods industry worth billions." — Garyn Angel, CEO of MagicalButter.com
“2019 will see the rise of craft cannabis as well as the rise of corporate cannabis. As the cannabis consumer becomes more educated and sophisticated, there will be a natural tendency to gravitate towards a higher quality products and demand for true craft brands will increase. At the same time, we will see a lot of consolidation as big canna swallows up the little guys. Consumers will be left to choose between larger corporate and smaller craft cannabis. I also think there's a good chance that we will see legalization happen at a national level.”— Danny Sloat, Founder of AlpinStash
“In states with established adult use, I believe we'll see increased interest in minor cannabinoids such as CBG, CBC and THC-V, all of which have enormous medical promise. As new states come online, they will follow the pattern of established legal states: there will be burgeoning use in the over-55 demographic, starting with topicals and CBD-dominant edibles, and then THC-dominant products as they grow more comfortable with their euphoric effects.” — Katie Stem, CEO of Peak Extracts
"Now that industrial hemp is federally legal, we'll see an explosion of investment and new interest from alcohol companies, who will be aggressively looking to cut-off competition. This will likely lead to new lobbying agendas from alcohol-affiliated groups, such as the California Beer & Beverage Distributors, who notoriously fought against cannabis reform in the past. Some alcohol conglomerates have already begun to embrace the change (e.g. Constellation Brands, AB InBev)." — Charles McElroy, Founder of Goldleaf
“2019 will bring more structure and safety to the cannabis industry. As California’s legal market continues to work itself out, we will see the east coast push heavily for legalization, and eventually we’ll be at a point where the majority of the states in the US have a legal system for cannabis in place. In Oregon, there’s a push for legalizing product exportation, and we’re seeing the global market take shape.” — Stephen Gold, Co-Owner of Fore Twenty Sports & Co-Founder of The Daily Leaf
Cheers to a bountiful 2019!