What to Expect From the Cannabis Industry in 2021
Voting day is finally behind us and a new year is on the horizon. What can we expect for the state’s cannabis industry in 2021?
The Cannabis Industry Journal has some thoughts. The publication recently explored 9 developments that it thinks will affect California’s weed market next year. These include:
- Expanded banking access for cannabis businesses.
- A continued rise in cannabis consumption, driven in part by the pandemic.
- The expansion of local retail permits as more cities allow cannabis businesses to make up for a loss in sales tax revenue.
- The expansion and fine-tuning of social equity programs.
- Establishment of appellations of origin — a potential game-changer for cannabis marketing.
- A possible reduction in pot prices.
- Ongoing uncertainty or “turmoil” for businesses, especially if prices do drop.
- Greater consolidation between the various cannabis industry sectors.
Read more about what you can expect here.