Everything You Need to Know About the Cannabis Industry

stats and facts about cannabis industry

 

The cannabis industry is growing every single day. This comes as a result of its legalization across various countries and adoption in medicine for treating serious conditions such as cancer, neurological disorders, and Parkinson’s disease, among other things.

A lot of psychotherapists also recommend it for dealing with anxiety and other difficult psychological problems. Last but not least, the need for a more effective chronic pain remedy with less side effects gave cannabis the needed boost for achieving unlikely popularity throughout the entire world.

But is cannabis really good for you? The truth is that there are good and bad sides from both occasional and regular use. The most important downside that should be remembered is that people who started consuming cannabis by smoking it as teens and continued to do so as adults lost an average of eight IQ points between the ages of 13 and 38.

This is not something that should be overlooked. On the other hand, many studies prove that medical cannabis is showing incredible potential for treating conditions that seemed desperate until recently. More research is needed, but from what we can tell so far – moderation is the key if you want to experience the good sides of consuming cannabis.

That being said, how much is this industry really worth? The numbers will leave you speechless. In 2018, the cannabis industry was worth a staggering $13.8 billion. Medical cannabis recommended by physicians is worth $5.1 billion, recreational cannabis used for its mind-altering characteristics is worth $3.2 billion.

Hemp is the version used as an industrial material and is worth $820 million, while CBD oil, the purified nutritional supplement, stands around $202 million. And that’s not all. The predictions say the numbers will only go up in the following years.

Want to know more about the cannabis industry? Check out the infographic below to learn all the basics, starting from the history of cannabis and general facts to more in-depth statistics that will help you understand why this industry is currently the fastest growing one in the world.

80 Stats About the Marijuana Industry

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