As the global marijuana industry continues growing, major businesses are partnering with companies in the industry, conducting research and exploring marijuana in an attempt to develop new product lines for the medical and recreational segments of the industry. In addition, regulatory changes are being made through supportive federal legislative action in the marijuana space allowing marijuana extraction companies to grab innovative economic investment opportunities as well as develop a new generation of edibles. Estimates show that by 2026, the global marijuana industry will reach $97 billion, with a compounded annual growth rate of roughly 32% in that period. However, while marijuana and its byproducts are utilized in various medical and recreational capacities, preliminary sector growth has shown that more profits will be made via products that need specialized techniques and additional processing to manufacture, such as beverages, oils, and edibles. This explains why a number of companies are focused on marijuana extracts and the production of new edible products.
CannabisNewsWire, 06/15/2021 04:20:00