IF YOU OWN A CANNABIS-BASED COMPANY IN CALIFORNIA,
What to know about cannabis
Cannabis is made up of more than 120 components, which are known as cannabinoids. Cannabidiol (CBD) and tetrahydrocannabinol (THC), are the two most well-known and researched cannabinoids.
THC is responsible for the “high” that many people associate with cannabis, while CBD is a non-intoxicating, non-euphoric component, which you may have seen in the form of oils, gummies, drinks and other products for medical purposes.
TYPE OF MEMBERS AND GOAL:
Cannabis Companies uniting with Doctors via fun, educational, social/networking mixers.
“CALIFORNIA CANNABIS MIXERS”
According to the 2021 Annual Marijuana Business Factbook, U.S. cannabis sales will climb to $48.4 billion in 2021 – a 31% increase over 2020 sales ($36.9 billion).
The majority of sales (54.55%) will happen in the adult-use market ($26.4 billion) with the MEDICAL market not far behind ($22 billion).
Growth is expected to continue well beyond 2021. In 2025, Marijuana Business Daily projects legal U.S. cannabis sales could hit $84.3 billion with $45.9 billion of those sales (54.45%) happening in the adult use market.
Cannabis sales will be driven by a handful of key states in the coming years. The states with the highest legal cannabis sales this year will account for 28% of overall sales in the country: California: Up to $5.7 billion
There is no doubt that the cannabis industry will grow in the coming years. The questions that remain are how fast and how much will it grow, and which states will have the most significant growth? One thing everyone can agree on is that this is an industry filled with opportunities that is having a measurable, positive impact on the U.S. economy.