By Unknown Author | pmmi.org/research |
A Look at the U.S. Cannabis Market
Despite being controversial, the U.S. cannabis industry is growing rapidly. With a product that is quasi-legal, the industry faces many uncertainties regarding its future direction. At the same time, the speed at which the industry is growing leaves companies struggling to keep up with demand as well as the frequent changes common to any nascent industry. The complexities can seem daunting. Yet the upsides are often worth the risk, and many cannabis producers are rising to the task of balancing stringent regulations, rising consumer demand, and shifting market landscapes.
The cannabis industry shares many similarities to the pharmaceutical, cosmetic and food & beverage industries but must also address unique needs and challenges. Cannabis companies and their ancillary partners have to be innovative and flexible to keep up with the fast pace of change.