Five Marijuana Industry Predictions for 2017

By: med_admin Published: January 24, 2017

The 2016 elections green-lighted marijuana initiatives in states across the nation. With the added exposure, business legitimacy, and medical research associated with the marijuana industry, predictions for what the industry will bring in 2017 are plentiful. Here are five common themes that stand out amongst predictions from multiple sources.

  1. Industry Maturation and Professionalism. With more than half of the states in the union legalizing marijuana, regulatory adoption, business practices, financing, and market logistics will continue to grow in sophistication. With bipartisan support during 2016, and a greater exposure to legal pot throughout the country, the product has never been more openly discussed as a legitimate business venture. Many sources hint at a multi-state, self-governing body to promote the strength of the industry and encourage best practices.
  2. Secondary Market Growth. As new and larger markets prepare for legal use of recreational and/or medical marijuana across the country, such as in California, Florida, and Massachusetts, businesses supporting the green industry will see considerable growth. Product manufacturing for marijuana accessories, software and technical platforms to support business management and data analytics, and plant farming and harvesting logistics and technology are just some areas that will see growth and development in support of the industry.
  3. Synthetic Cannabinoid Focus. Though cannabinoids (CBD) continue to be seen as a safe and viable medical pain relief alternative, particularly in the wake of a nationwide opioid epidemic, federal regulatory agencies still see hemp-based CBD as a Schedule 1 controlled substance. Fear of legal repercussions may cause a growth in demand for synthetic CBDs, which do not have the same regulatory restrictions as the plant-based version.
  4. More Marijuana on TV. With less stigma and greater acceptance of marijuana as a legitimate product and business venture, taboo surrounding weed has dissipated. Expect mainstream television to reflect this change in view with more marijuana-themed shows coming to the small screen.
  5. Professional Sports to Accept Marijuana. A bold prediction, more than one source believes a professional sports league will accept marijuana as a medical treatment alternative to treat injury-related pain. Many players already use cannabis to treat injuries, preferring it to the harmful effects of prescribed opioids. Those players in states that legalize medical marijuana believe they should have access to it without league repercussion.
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