There’s no question that the cannabis industry is booming and changing daily. MJBizDaily recently released a publication that expects marijuana sales to boost the economy by $92 billion in 2021 alone. That statistic is up 30% from last year, and the same analysis predicts it will reach upwards of $160 billion by 2025.

With all of this incredible growth, significant changes are on the horizon. So, we decided to ask five top leaders in the cannabis and CBD industries about the changes they anticipate happening in the next five years. 

Here’s what they shared. 

The global cannabis industry is maturing, demands are increasing and better reforms are being enacted for the industry to attain a mature market. The not-so-new innovation that is becoming prevalent now is the "cannabis consumption lounge".

The basics

The best way to explain this is to liken it to a bar. Simply put, a bar is an alcohol consumption lounge, that is a public space where alcoholic drinks are consumed. Therefore a cannabis consumption lounge is a licensed and safe space for a group of people to consume cannabis.

Cannabis lounges may just be the best element to make cannabis socially acceptable by all age groups in the country. It will go a long way in ensuring an equitable industry that caters to all.

Canadian Cannabis Stocks In 2021

Currently in June Canadian marijuana stocks are showing the most upward momentum in the market. After several months of consolidation, the cannabis sector appears to have found its bottom. So far this month some top Canadian marijuana stocks have gained double-digit percentages in the first two weeks of June. But Canadian cannabis companies are waiting for the US to open up the cannabis market federally so they can enter the American market.

10 people are facing charges after OPP seized $16M worth of pot from a licensed cannabis grow op in St. Catharines.

Members of the Provincial Joint Forces Cannabis Enforcement Team, OPP, along with Niagara Regional Police Service, executed a search warrant at a Health Canada licensed cannabis grow operation, where infractions to the Cannabis Act were believed to be taking place.

As a result of the warrant being executed police seized 14,536 cannabis plants worth approximately $14,536,000, and 2212.2 pounds of processed cannabis worth approximately $2,212,200.

10 people were charged with one count each of harvesting cannabis without authorization, contrary to the Cannabis Act 12(6)(a). 

In his 2022 budget proposal, President Joe Biden included a rider first introduced by Republican Maryland Rep. Andy Harris that would block D.C.’s ability to legalize and tax recreational marijuana, even after the city’s residents voted to legalize possession back in 2014. While the budget provision is plainly at odds with Biden’s support of D.C.

Imagine this: you go to an airport or train station. You are walking past rows of vending machines full of snacks and healthy prepared meals – then you stumble upon a smart vending machine full of CBD products. This is the future. This is now.

It is no secret that Amazon is one of the largest companies on earth. In fact, it’s the third largest company worldwide according to available data.

Estimates put Amazon’s total online net sales in 2020 at roughly $386 billion dollars. That figure does not appear to include revenue from other products and services that Amazon sells.

Amazon has literally revolutionized the way that consumers buy things, much to the dismay of small and large brick and mortar retailers alike. That is true across the globe.

Over the past couple years, farmers have been looking to branch out their growing opportunities. As the prices of row crops fall, agronomists are desperate to improve their financial bottom line. Ever since the 2018 Farm Bill was passed, a number of growers have looked into the hemp industry to make a bang for their buck. Of course, growing hemp is not easy. It comes with its own baggage – farmers need to comply with certain rules for example, make sure that the hemp the grow and distribute is below the standard 0.3% THC. Initially, hemp fell into the same category as marijuana and was considered a controlled substance. But ever since the passing of this new bill, things have taken a turn for the better. Hemp has been declared an agricultural commodity!

2 Marijuana Stocks That Are Slowly Starting To Recover In The Market

Currently in June marijuana stocks are still building more momentum. Which has been much needed after the last 12 weeks of trading. However, even as parts of the sector start to recover there is still time to find good marijuana stocks to buy. In the last 3 months starting from the second week of February cannabis stock drastically dropped in price.

Zoning rules for cannabis stores have left potential businesses frustrated, and amendments could be made to alleviate those concerns, according to a report from City administration

The report said Regina is the only city in Canada that has a reciprocal buffer zone which means schools, parks, day care centres, enclosed rinks, public libraries, and public community centres are not allowed to move within one block or 600 feet of an already established cannabis shop. That rule has kept two to three new businesses from opening so far.