One of the industries that have found foot rapidly across the world in the last few years is the marijuana industry. Marijuana is not only a substance that brings along recreation use with it but is highly efficient in enabling medical treatments for a wide range of diseases. However, this is one industry that finds itself embroiled in a lot of controversy. It is high time for us to get to know the facts that matter. Read on to debunk the myths regarding the marijuana industry and find out the truth.
Fact: The Industry will split into Two
The marijuana industry has two diverse fields of operations, one being the recreational use and the other is medical use. The fine line between them is coming to the fore quite clearly and shall be prominent in about a decade from now. However, the difference between the two has not been that obvious historically. When the state of California gave a nod to the medical use of marijuana in the 1990s, it did not deem it important to put up a regulatory system to govern the change in laws. This paved the way for the recreational users to obtain prescription cards, thereby bridging merging that industry with that of the medicinal. With time, the states and the industries are identifying the apparent difference between them.
The industries focussing on recreational aspect take into account the customer insights, behavior, marketing, and segmentation. The medical one lays its vision on science, distribution, research, and development. Thus, investors should take these factors into account before they invest in a particular field.
Myth: The prices shall fall
It is not a fad among the people that will sustain the marijuana industry only for a limited period of time. The industry is here to stay, with the demand increasing day-by-day as the acceptability and the awareness about the herb grows. According to an article, there may appear a phase where there shall be an oversupply of marijuana. This will directly affect the prices, thereby bringing them down to some extent. However, this trend is only going to be short-lived. The public base that uses marijuana is increasing rapidly with the advent of the discovery of the benefits of CBD and THC, as per a study.
Besides, the increasing salaries of the people shall allow them to invest in the high quality of the product. This will have a positive effect on the increase in the prices and the quest to procure the best quality of the product will increase. More credit shall facilitate R & D of marijuana, thereby helping in the discovery of new varieties and uses. Hence, the marijuana industry shall see a spur in its growth in the future and the demand will only sore with the passage of time.
Myth: Marijuana use causes cancer
Although it is true that marijuana smoke contains carcinogens, similar to cigarette smoking, even heavy usage of it does not normally lead to lung cancer, according to a study. On the other hand, marijuana can play a vital role in fighting the growth of cancer cells in the body. Not only can it be important in inhibiting the spreading of the cells, but can also help in killing the existing ones. The treatment of cancer involves a number of rounds of chemotherapy sessions. These can cause vomiting and nausea among patients. Medical marijuana can be quite helpful here as its consumption facilities in bringing about relief to the patients and curb the sensations.
Those who seek to grow marijuana on their own can turn to the system of hydroponic growing. It involves growing the marijuana plants submerged in water and facilitates in achieving high yields.
Fact: There is high scope in the market
Millennials see recreational marijuana at par with drinking when it comes to leisure. However, their results over the body differ widely. Alcohol is a high-caloric drink that inhibits the neurological capacity of the body. It bears a direct link to poor performance at work, partner violence, and incidences of rape. Marijuana, on the other hand, is a calorie-less substance, which is known to provide treatment to as many as 60 conditions. It is also highly effective in increasing the libido and drastically improving the sex lives amongst the users.
This shows that there is a huge opportunity for the industry in the market. Since getting high seems like a healthier alternative than getting drunk, a lot of the millennials are turning their preference to the former. A weed concentrate, known as shatter, is becoming popular amongst the people for its heavier hitting ability and higher cannabinoid content. Hence, there is a high scope for the improvement of the popularity of the marijuana industry across the world.
Myth: The industry does not get credit facilities
The marijuana industry does not get the support of banking facilities as other industries do. Large companies can still get depositary services, but the smaller companies struggle in that respect. Even though the situation seems grim when it comes to finding the required credit, the number of banks providing loans to marijuana companies is increasing.
As many as 400 federally chartered banks are offering credit services to the cannabis companies currently. The situation is only going to get better in the near future with the increase in acceptability of marijuana among the masses.
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The number of investors ready to expand the business of the industry is growing by the day. It is of utmost importance for the companies to identify their customers and the group of people they want to focus on as consumers. With the right strategies and strong marketing, the marijuana industry is sure to reach heights in the near future.