The cannabis market of 2023 ended with more than just a bang – it ended with a booming yell of triumph. After decades of being pushed to the sidelines, cannabis has finally been able to take its rightful place in the marketplace of legal crops and products.
In the last two years leading up to the end of 2023, cannabis-based products have taken the world by storm. From CBD oils to edibles, cannabis-based products and services have grown exponentially in size and scope.
In North America, public opinion on cannabis took a major leap forward in 2023, with major cannabis-based companies being publicly traded on the stock market for the first time. Progress in the legal cannabis market has also led to the emergence of many new business models, with hemp being used for medicinal purposes, and new start-ups popping up in the industry to meet the growing demand for these products.
The end of 2023 also saw a sharp increase in public awareness of the health benefits of cannabis. Numerous studies and research have shown conclusive evidence that the use of cannabis can help alleviate various chronic conditions, such as chronic pain and epilepsy. This has led to an expansion of the medical cannabis industry, with more states passing legislation allowing for medicinal cannabis access.
At the same time, the recreational cannabis market has seen massive growth in the past few years, as more and more states have legalized the use of recreational cannabis. With legalization expanding in the United States and Canada, and a legal market beginning to emerge in Europe, the future of the cannabis industry looks bright.
While there are still some issues that will need to be addressed before the cannabis industry reaches its full potential, such as regulations and public opinion, its potential for growth is clear. With the rapid expansion of the industry, it is evident that the cannabis market of 2023 has marked a major turning point in the history of the industry, and has opened up the world to a new era of cannabis.
“2023 in Cannabis: A Year-End Review of the Growing Market
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