Cannabis Industry Poised for Tremendous Growth Global Legal Marijuana Spending Expected to Reach $32 Billion Major Beer Manufacturer Invests $4 Billion
Los Angeles, August 16, 2018. More and more U.S., states are legalizing medical cannabis for medical and/or recreational use. After Oklahoma just recently legalized medical marijuana, 30 U.S. states now have laws that allow the legal use of weed for medical purposes. Germany, the most heavily populated country in Europe, a thought leader and trail blazer in the European Union, legalized medical cannabis last year.
Beer Manufacturers will dominate the Industry?
It seems nearly painfully obvious; marijuana could be the next big boost for many of the major beer manufacturers’ staling sales. Beer companies know how to deal with prohibition issues , complicated laws and regulations and with the prosperous periods that typically follow the fall of prohibition. No difference between beer and weed, correct? You get a DUI for both if caught.
A $4 Billion Investment
The most prominent beer maker in the US, Constellation Brands is planning to increase its stake in Canopy Growth, a leading Canadian marijuana company to 35%, announcing that its initial investment in the company has been rocket fuel for the company and produced an absolutely incredible return for their early investment. Constellation Brands was the first to take the plunge into the cannabis market, investing hundreds of millions of dollars into Canopy Growth in order to bring THC-infused brews to market in the northern nation.
Now, Molson Coors has assembled a team in Canada to actively explore the risks and opportunities of entering the cannabis space and Heineken-owned Lagunitas Brewing Company has disclosed its plans to manufacturer and distribute a cannabis-infused sparkling water, called Hi-Fi Hops, throughout California, despite the continuing uncertainty of such products under Federal law.
Global Legal Marijuana Spending Expected to reach $32 Billion by 2022
While medical marijuana spending jumped 34% last year, it fell by 18% during 2018. Following this dip in 2018, however, medical marijuana sales are expected to increase again. Leading analyst firms, such as the ones quoted above believe that the growth rate over the next four years should be nearly as impressive as the period between 2014 and 2017.
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