The Sky’s the Limit for the Cannabis Industry in 2022
January 7, 2022 08:00 am ET
Estimated Read Time: 2 Minutes
After a strong 2021, all signs are pointing to an even bigger year for the cannabis industry in 2022. According to a report from Marijuana Business Daily, U.S. legal cannabis sales are predicted to surpass $30 billion in 2022. The number may seem high, but there are plenty of reasons experts believe the prediction will be spot on.
For starters, American support of cannabis, already at a record high, will only increase as cannabis becomes more accessible. A Gallup poll from 2021 revealed that around 68% of Americans were in support of cannabis legalization.
The poll highlighted how accessibility and education about cannabis have begun to peel away old stigmas surrounding the plant. With more states entering the legal market in 2022, experts expect cannabis to become even more socially acceptable.
Accessibility isn’t just great for consumers either. Another large part of experts’ optimistic forecast for cannabis is an increase in research about the plant. Before 1999, there were fewer than 5,000 published studies on cannabis. In 2020 alone the number of cannabis studies was over 3,500.
2022 is looking to be an even bigger year for cannabis research, featuring exciting studies like one on non-THC and CBD cannabinoids by Colorado State University. Studies like this one not only help to further destigmatize cannabis, but they can also lead to the creation of new and more effective cannabis products.
Between growing cannabis accessibility and education, there is no limit to the heights this skyrocketing industry may reach this year.
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